Professional coaching is a growing industry around the globe and in the Rockford area
The professional coaching industry is currently generating nearly $10 billion every year worldwide and is expected to reach $25 billion annually by 2031.
The American coaching market has been growing since the pandemic and is expected swell to nearly $6.3 billion this year as more employees experience fatigue and burnout, adjust to hybrid work environments and struggle with work-life balances.
According to the International Coaching Federation, the top areas of coaching include leadership coaching and executive coaching.
"The organizations that invest in building a coaching culture will be a step ahead for retaining and drawing in top talent," Magdalena Nowicka Mook, CEO of the International Coaching Federation said in a news release.
The American coaching market has been growing since the pandemic and is expected swell to nearly $6.3 billion this year as more employees experience fatigue and burnout, adjust to hybrid work environments and struggle with work-life balances.
As companies increasingly pay top dollar to coach their employees, local experts say not all coaching is the same.
There is life coaching, which is also a booming industry, one valued in the U.S. at $1.4 billion, as well as career coaching, which can get lumped in with professional coaching.
Forest City Consulting is a Rockford-based firm that specializes in leadership, performance and team coaching.
"We help them look inside," said CEO Jan Selander. "They look internally to identify what they bring to the table and what they are capable of bringing to the table. So the coaching is to look at what's intrinsically driving different behaviors and performances. We help them tap into their creativity and resourcefulness and walk with them to find the answers."
If it sounds complicated, it can be, which is why employers pay anywhere from a few hundred to a few thousand dollars per employee so they can communicate more efficiently in the workplace, resolve conflicts, improve their emotional intelligence and enhance leadership skills.
"It is very therapeutic for the client," said Forest City Consulting's Stephanie Linquist. "We are trained that the client has the answers. We aren't there to give them answers. They have the answers within themselves. And that's the cool thing about it."
Jim Hagerty writes about business, growth and development and other general news topics for the Rockford Register Star. Email him at jhagerty@gannett.com.
This article originally appeared on Rockford Register Star: Rockford-based company specializes in workplace coaching
