How To Recession-Proof Your Career With Coaching
In this episode John and Noelle discuss the Global Wellness Summit's 2022 industry trends report, and what this research tells us about the future of coaching.
The Everything Life Coaching Podcast, featuring Lumia Coaching founders John Kim and Noelle Cordeaux, is a deep dive into the experience and business of being a life coach. Subscribe to get new episodes weekly!
Coaching Industry Outlook: The Water Is Warm!
The 2022 Global Wellness Summit listed coaching as one of the top 10 trends that will be impacting the global wellness industry in 2022 and beyond. At Lumia Coaching, we’ve been taking a close look at this report because it very clearly signals that coaching is one of the fastest growing disciplines in the wellness industry.
Over the decade the Lumia co-founders John and Noelle have been working in the space of coaching, this is the FIRST TIME that such clear economic modeling has projected the staying power of coaching as an industry.
The Global Wellness report offers a detailed industry outlook for aspiring coaches who are considering working in or around this discipline. In this episode, we're going through the GWI findings that impact coaches.
A Growing Profession
As a profession, coaching is now more recognized and respected than ever before. According to the GWI, “coaches trained in the art and science of motivating people… have been the missing link in both healthcare and wellness.”
“Change is here: Training programs and standards are growing fast, new medical models are making the coach as central as the doctor, an explosion of digital health platforms are putting behavioral coaching at the center and the wellness world may be slowly waking up to their power.” (Global Wellness Summit 2022.)
What this means for coaches is that practitioners with legitimate credentials in evidence-based models are highly in demand.
Those with visible and recognizable credentials are on the forefront of elevating the field of coaching and will see a surge of job openings, especially as insurance is starting to cover coaching as a validated modality that bookends other health interventions.
Moreover, integrative health is becoming part of how and where we live.
Other sectors that are driving the boom in the coaching market according to the GWS include:
- “A new ‘care team’ medical model, where coaches are as central as doctors, is starting to shake up primary care and public health.”
- “Insurance companies (from UnitedHealth- care to Aetna) are now covering coaching. In the United States, the American Medical Association (AMA) has the coverage codes in place—they just need activation.”
- “An avalanche of heavily funded digital health companies (from chronic disease management platforms to weight loss apps) are claiming to put ‘personalized health coaching’ at the center.”
- “Wellness resorts, that work on the revolving door (and “a week-can-change-your-life”) model… are incorporating certified coaches to virtually extend coaching post-stay— and big resort players (such as Six Senses and Can-yon Ranch) are opening urban wellness centers to deliver more ‘everyday’ coaching.”
Another factor to take into account according to the GWS is the idea that “lifestyle diseases” (and their cost) keep surging, while “prescriptive” approaches to behavior change haven’t produced the desired results. What this means is that everyone in the wellness space is searching for tools that help people to initiate and maintain lifestyle changes that are sustainable.
Bottom line? A substantial body of research is now demonstrating that as the impact of coaching continues to grow, funding will be flowing into the coaching space to create jobs and the infrastructure for this field to expand.
Who is doing this research?
Lots of places, but especially noteworthy is The Mayo Clinic. It’s refreshing to us to see that the The Mayo Clinic has put forth its own documented definition of coaching!
According to The Mayo Clinic (as published in the GWS report), a coach is a “professional trained in evidence-based behavior change theory and communications techniques who help people develop the intrinsic motivation, skills and confidence to hit realistic, personal health/wellbeing goals. They always view the client as the expert in their own life and through motivational interviewing – which is a nuanced form of nondirective, empathic and mindful questioning and listening — they help you dig deep to find your motivation and goals and then support you each step of the way.”
If this sounds like you, consider joining us at Lumia Coaching. The water - and the outlook for our industry - is warm!
Ready to Become A Coach?
One of our values at Lumia is that we dare to be different. Our life coaches ignore the expectations society tries to impose on them, and seek to live from their own truth instead. If you are ready to step into your power and you’d like a partner in the process, come check out Lumia Life Coach Training. Grounded in science, our ICF accredited program features authentic instructors, a robust curriculum, and business instruction to prepare you for liftoff.