These two issues develop in parallel with each other:
- Business coaching
- Employee engagement problem
Let’s look at the data briefly.
The Global Business Coaching Service market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2029. According to recent statistics, the global business coaching market is estimated to be worth around $17 billion by 2027, with a compound annual growth rate of 13.2%.
As for employee engagement:
Yes, it seems to be a problem because the statistics are clearly alarming.
Gallup’s “State of the Global Workplace” 2022 report found that globally, employee engagement is at just 21%. The report divided employees into three types based on their engagement.
It is no longer possible for companies to sweep employee engagement issues under the rug because the employee engagement measurement market is also growing at an incredible rate.
According to Data Bridge Market Research findings employee engagement and feedback software market is anticipated to experience tremendous growth, reaching USD 2,435.60 Million by 2029.
Meanwhile, the benefits of high employee engagement are also very clear:
- 21% Higher profitability
- 43% Less turnover for low turnover organizations
- 17% Higher productivity
- 58% Less safety incidents
- 20% Higher sales
- 18% Less turnover for high turnover organizations
- 81% Less absenteeism
- 41% Less absenteeism
- 10% Less absenteeism
The business coaching market is growing steadily, because business owners want to see beyond what they see in the mirror through the discipline of coaching.
It is obvious how employee engagement is reflected in the company’s bottom line.
This niche coaching field is vitally needed in today’s companies.
As a business, Employee Engagement Coaching promises: Success, good earnings, personal development, tangible results, reputation, and work-life balance.
If all this makes sense, contact us.
Let’s talk about the future of work.