Biggest Trends Affecting Executive Coaching in 2019
December 12, 2018
Unlike what most people may think, executives also need a lot of coaching in order to excel at their job.
Most executives are pretty raw when they get a promotion as they experience various issues leading a team and making decisions. This is why executive career coaching has become such an important factor for companies and individuals alike. A coach can help you out learn more about your new post, its requirements, how to handle individuals, make tough decisions on a daily base and so much more.
Like most other professions, executive coaching is constantly changing. Innovations are being introduced each and every year. That being said, here are some of the major trends that will affect career coaching for executives in 2019.
1) Increase of regulation
Nowadays, the coaching industry is pretty chaotic. Everyone can be a coach regardless of their knowledge or experience. The trend is pretty ridiculous but is also common for new professions. Having in mind that coaching is going nowhere in the near future, we can expect that it will become more regulated. This is especially true when it comes to executive coaching. The Importance of this profession cannot be overlooked; in the end, it affects some of the biggest companies on the market. This is why in near future we can expect more laws when it comes to executive career coaching, state and federal testing and licensing and so on.
Now, it is really hard to predict whether or not coaching will be taught in colleges. However, we can safely presume that it will be more featured within institutions and will become a part formal and informal education. Private schools may start teaching new coaches, providing licenses, and dealing with other things related to executive coaching. This isn’t particularly surprising if we presume an increase in regulation. Unlike some other newer professions, this one is likely to stay.
3) Greater acceptance
Like most new things, lots of executive and companies find it hard to accept executive coaching. For them, this is still a new thing that hasn’t been tested and might even produce negative results on company performance. However, as time goes by, it will become more obvious that the coached executives are able to provide better results for their organisations. Because of this, both executives who wish to propel their careers, as well as companies that wish to improve its internal processes, will start supporting career coaching for executives.
4) Becoming an integral part of companies
Major global companies have a constant fluctuation of employees. Lots of them will get promoted along the way so they need improvement. As a result, don’t be surprised if coaching departments become an integral part of companies. You will no longer have periodic seminars and training. Instead, they will become a constant part of the development process. This is especially true for executive training given its importance on the company. However, it probably won’t appear in all kinds of companies; just in bigger ones.
5) Industry-specific executive coaching
At this point in time, executive coaching is a general field meant to educate any type of company executive. No matter what kind of an industry you’re working in, you can be taught some basics. As the profession becomes more vigorous and companies try to get a competitive edge for their managers, we can expect that executive coaching will slowly start to branch out and specialize in specific areas and industries. So, in future, we might have car industry executive coaches, IT executive coaches, textile industry executive coaches and so on.
6) More nuances
Because of specialization, we can also expect to see more nuances. Executive coaching will become tailor-made for individuals and the processes, as well as methodology, may change in order to adjust for specific personal characters, industry requirements, teams that executives are leading and so on. In fact, it wouldn’t be surprising if team members become a part of the process given that the executive has to adjust to them. That being said, there might be more emphasis on communicational and interpersonal skill development.
7) Merging with other talent-specific services
Improving their employees’ skills has long been on the main focus of companies. Basically, by having a highly skilled workforce, you are more likely to succeed on the market. In that sense, it is really interesting to see where coaching will fit. As previously mentioned, there is a good chance that coaching departments will start opening up within big companies. However, there is also a possibility that this department will start merging with other departments such as HR to form new sections meant to internally develop the workforce. We might also see much more crossover in terms of knowledge and methodology.
8) Global experience
Companies are always trying to reinvent themselves. Whether we’re talking about traditional research and development or stealing other companies’ ideas, organisations are always trying to get an edge over their competition. The same way economy and other fields use case studies from various countries, executive coaching will become more reliant on global experience. It will no longer be enough to be coached by a popular local coach; instead, companies will try to find global experts who have a different point of view and different type of experience.
9) Digitalisation of executive coaching
For all of this to be possible, we will have to rely more on modern technology. Online coaching will become a much more common way of learning and will allow accumulation of previously mentioned global experience. We might also encounter lots of different tools for helping us simplify and automatize the whole process.
10) Better measurement of success
At this point in time, there are lots of people who are questioning the successfulness of executive coaching. This is mostly due to the fact that the results still cannot be properly measured and quantified. As a result, everyone can make their own judgment. As the profession goes forward, there will be more inclination for executive coaches to develop systems which will allow them to measure results. Everything will become quantifiable as a way of demonstrating success. But there is another reason to do this: executive coaches want to get paid according to their performance. If you have a measurement system in place, it will be much easier to judge a coach and pay accordingly.
11) Big coaching companies
Today, executive coaching is mostly done by individuals. However, this will likely change in the future. As companies start separating themselves from the pack, they will accumulate more revenue and likely start providing other services. As a result, big coaching companies will emerge. Some of them will also be interdisciplinarily allowing you to get all the training in one place. Because of that, there will also be more scrutiny and reviews will play a big part in how companies are performing.
12) Better diversification of services and prices
Although there are lots of executive coaching companies and professionals out there, it still seems that the market isn’t segregated enough. The prices are fairly similar (if we exclude some of the best experts) and sometimes, it seems that there is no difference where you will attend your training. In the future, as more companies and professionals start offering coaching services, we will see much better diversification of prices. According to our prediction, it will no longer be a service available to the upper management but instead, everyone will be able to afford it from their own budget. In that sense, even if you don’t have coaching available within your organisation, you will be able to get the service yourself and work on your skills.
We have only scratched the surface of executive career coaching.
Like most other professions in their inception, this field is still not regulated properly. While there are some great experts out there, it is one of those services that you can primarily find online. But, going forward, this is probably going to change.
Coaching, in general, has already had a profound impact on our society. It will likely continue in the future so we can expect a much better service, more flexible prices, as well as different approaches to the subject.
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