Scope of Coaching
By Bhuwan Sharma
Coaching industry is gaining momentum worldwide and the revenue from it has risen to $15 billion in 2019 from $2 billion in 2012. It seems to have enough market and social support to reach $20 billion by the end of 2022. We are witnessing US leading the way in this industry for now and Europe followed by US, are learning from them.
With the economic growth and the rapidly expanding industrialization in emerging markets, it is clear that business executives and professionals will seek coaching opportunities from outside of their organizations to enhance their performance and to support their personal well-being. Of course, this will eventually lead to these executives to discuss the potential of using coaching services to analyze the scope of enhancing their employees performance or to resolve any specific issues or problems they may be facing. Ultimately, even in new emerging markets like ours, businesses will start featuring coaching as a permanent strategy.
“With the economic growth and the rapidly expanding industrialization in emerging markets, it is clear that business executives and professionals will seek coaching “
Coaching industry is now on its way to our side of the world. With increasing global acceptance and the roaring demands for these services, I feel, we will soon see number of coaches in Nepal, multiply exponentially. Specially, if we consider that we are living in uncertain times and a lot of professionals are looking at possible alternative career for better financial foundation and coaching seems to be a popular one at that.
We need to keep in mind that places like UK, Australia, US, Dubai are facing market saturation as a big problem and this will eventually happen in our side of the world too. As coaches, we need to keep in mind, ultimately, in order to survive, we will have to be the best.
As business leaders or owners, one key issue could be scrutinizing untrained and incompetent coaches who may have been certified by long list of dubious credentialing organizations. There are thousands of entities that certify coaches worldwide. We will soon face the challenge of keeping coaches accountable and design a system of keeping them supervised.
