Is coaching recession proof?
By Martin Kornacki (01-10-2009)
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Many coaches have seen their business grow during the economic downturn, according to research published this week.
A joint survey of more than 600 coaches from the Association for Coaching (AC), European Mentoring and Coaching Council (EMCC) and International Coach Federation (ICF) found 70 per cent believed that their practice had either grown or stayed the same as a result of the recession.
For those coaches who saw their business grow in the last six months many said it was through existing clients, while others said they had switched to public sector work or had leveraged funding available to get people back to work.
Katherine Tulpa, chairwoman of the AC said: “The results seem to indicate clients feel more vulnerable and, as a result, are seeking support from coaches who can help them manage in a volatile environment.”
The survey found more than half of coaches questioned said they had helped clients through career transition or managing through a recession, which researchers say is a clear indication that the downturn has affected confidence and raised concerns about clients’ careers.
However the survey highlighted that it is not all good news for coaches. Of the 30 per cent who witnessed a downturn in business, a third said it was a direct result of the recession.
Researchers say many from this group are relative newcomers to the profession and have found it difficult to win new business and others have lost essential HR contacts to redundancy, or the coaching function has been brought in-house to reduce overheads.
Surprisingly, more than half of respondents said they earned half or less of their income from coaching, with less than one in five earning all their income from coaching.
Kathryn Pope, president of UK ICF said ultimately the impact of the recession may have a positive impact on the coaching profession in the long-term.
“Though tough for some right now, we are seeing signs that the recession is helping to raise the bar in many areas; buyers are asking bigger and better questions and they are looking for excellent, qualified coaches to help them find the answers,” she said.
“Organisations are becoming more and more demanding and this may well help to drive standards even higher. We feel that this ultimately will be good for this growing profession.”
And Mike Hurley, president of EMCC UK concluded: “Our results confirm the value organisations and individuals place on coaching support. It also highlights the resourcefulness of coaches in adopting a flexible approach to their professional practice.”
A joint survey of more than 600 coaches from the Association for Coaching (AC), European Mentoring and Coaching Council (EMCC) and International Coach Federation (ICF) found 70 per cent believed that their practice had either grown or stayed the same as a result of the recession.
For those coaches who saw their business grow in the last six months many said it was through existing clients, while others said they had switched to public sector work or had leveraged funding available to get people back to work.
Katherine Tulpa, chairwoman of the AC said: “The results seem to indicate clients feel more vulnerable and, as a result, are seeking support from coaches who can help them manage in a volatile environment.”
The survey found more than half of coaches questioned said they had helped clients through career transition or managing through a recession, which researchers say is a clear indication that the downturn has affected confidence and raised concerns about clients’ careers.
However the survey highlighted that it is not all good news for coaches. Of the 30 per cent who witnessed a downturn in business, a third said it was a direct result of the recession.
Researchers say many from this group are relative newcomers to the profession and have found it difficult to win new business and others have lost essential HR contacts to redundancy, or the coaching function has been brought in-house to reduce overheads.
Surprisingly, more than half of respondents said they earned half or less of their income from coaching, with less than one in five earning all their income from coaching.
Kathryn Pope, president of UK ICF said ultimately the impact of the recession may have a positive impact on the coaching profession in the long-term.
“Though tough for some right now, we are seeing signs that the recession is helping to raise the bar in many areas; buyers are asking bigger and better questions and they are looking for excellent, qualified coaches to help them find the answers,” she said.
“Organisations are becoming more and more demanding and this may well help to drive standards even higher. We feel that this ultimately will be good for this growing profession.”
And Mike Hurley, president of EMCC UK concluded: “Our results confirm the value organisations and individuals place on coaching support. It also highlights the resourcefulness of coaches in adopting a flexible approach to their professional practice.”
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