EXECUTIVE COACHING DAY



EXECUTIVE COACHING DAY, MAY 1, 2023

Coaches make our lives incredibly easy; therefore, May 1 every year has been designated the Executive Coaching Day to celebrate these coaches. Coaches are the backbone of any business because it is very hard to grow in the professional sector without their expertise and guidance. Businesses are incomplete without executive coaches that ensure we get the correct advice and guidance for personal and professional development. This will enhance contentment and performance, making life easier for the corporate sector. Because of their deep understanding of the world, executive coaches help students create positive life changes.

 

EXECUTIVE COACHING DAY HISTORY

 

Based on evidence from the prehistoric cave paintings in the Pyrenees that show men who seem to be taking children on tour, it is believed that the idea of mentorship originated in ancient Africa. However, the term ‘mentor’ was initially used in literature in Homer’s “Odyssey” in 725-675 B.C. The Goddess Pallas Athena takes the form of a Mentor when Odysseus has to leave for the Trojan war and fulfills most mentoring roles like guiding, protecting, and enabling. Socrates (469 B.C. to 399 B.C.) is considered one of the first coaches. Aristotle and Plato emulated Socrates’ way of asking questions. Plato is famous for taking notes about Socrates’s teachings and preserving them for future generations.

 

During the Renaissance, aristocrats and scientific communities mentored, educated, or financed promising young people to shape and sharpen their skills. In “The History of Pendennis” by Thackeray, the term ‘coaching’ was first used to indicate personal support. The story talks about students who travel in a coach as they receive support from their tutor. Later by the 19th century, paid coaching was established to support sportsmen, and the terms ‘mentor’ and ‘coach’ originated during this period. Coaching refers to the physical, while mentorship mainly relates to knowledge.

 

The advancement in technology has affected the perspective toward mentorship or coaching. Klages and Baumgarten studied the human’s “inner states” in 1920 to better describe personality and to understand personal support. Feud explained the human mind and developed a theory around human behavior, making development a reality in coaching and mentoring.

FIVE  FACTS YOU WILL FIND INTERESTING ABOUT BUSINESS COACHING

  • Business Coaching is More Effective on Phone
    •

    Contrary to what many believe, doing business coaching on a video or phone call is more effective than through a meetup.

  • Coaches Are Used in Fortune 500 Companies
    •

    Business coaches are used in between 25% to 50% of the Fortune 500 companies

  • Helping In Achieving Goals
    •

    With the help of business coaches, you can track your professional and personal goals.

  • Female-Domination
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    Females make up close to 67% of all business coaches.

  •  Highest Number of Coaches
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    Western Europe boasts 35% of business coaches.

    WHY EXECUTIVE COACHING DAY IS IMPORTANT

     Day for Helpers

    Knowing that we need the efforts of those who help us through the sidelines to make our businesses successful without them getting much credit, this day allows us to recognize them. 

    Promotes Learning

    This day celebrates those who integrate learning into us since learning is an essential yet inevitable part of life.

    Personal Growth

    This day makes growth and dealing with our day-to-day issues much more manageable because business coaches are helpful to our personal and professional development.

    STATISTICS ON EXECUTIVE COACHING

     The Business Coaching industry has a market size of US$15.2 billion by revenue in 2023 and is expected to remain steady throughout the year. Between 2018 and 2023, the market size has grown 2.3% annually in the U.S.

    There is a growing demand for executive coaching. The certification is projected to grow at a CAGR of 11.3 percent from 2022 to 2032, surpassing a valuation of US$27 billion in the next decade.

    Are you a small business operating in the Executive Coaching Industry? 

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