2023: The Perfect Year to Hire a Coach?

The coaching industry has never been more popular. People all over the globe now understand that, at least in some areas of their lives, they need the support of an objective party who can assist them in navigating certain challenges.

Whether it’s leaders, executive, or individual coaching, 2023 is the perfect year to collaborate with a coach and achieve your goals, for a few key reasons:

Murky Waters Ahead

Unfortunately, many of the issues that began in 2022 will leave their marks in the next year or beyond. Whether it’s the changing work environment that leaves executives scrambling for optimizations or the financial recession that requires people to make some changes in their lives, 2023 will not be without its challenges.

And a good coach can assist you as you’re navigating these challenges. They can help you plan for your future, establish new goals, and assist you while you are implementing your desired changes.

Achieving Your Best Self

There comes a time when people can become frustrated for putting off their dreams, be they on a personal or professional level.

Unfortunately, once you get into a specific routine, it can become difficult to find the time and resources to invest in your development. By working with a coach, you can learn how to prioritize your schedule and find the necessary tools to work on your personal goals.

For instance, an individual coach may help you achieve certain goals such as improving your public speaking abilities or becoming more assertive. A leadership coach can provide you with the right tools and support to better lead your team. On your own, achieving either of these things can seem like an impossible task with a busy schedule.

Learn About Yourself (or Your Company)

The coaching process isn’t all about learning or changing. It often involves many moments of reflection and assessments, which offers both individuals and companies a way to fully understand their strengths and weaknesses.

Once you understand what you’re good at, and what areas still need some work, change often comes much easier.

Leverage This Growing Industry

The coaching industry is continuously growing and improving. Today, coaches rely on proven frameworks and strategies to assist their clients in achieving their goals.

Moreover, since the industry is growing, it is able to provide lots of options in terms of types of coaching, preferred methodologies, and even how the coaching sessions are delivered. In a way, coaching has never been more convenient.

Choosing the Right Coach

2023 is a great moment to start working with a coach, but know that not all of these professionals are the same. Each coach can have different styles, methodologies, or strong points, so it’s up to you to do your homework and find a coach that truly meets your needs.

One of the first things to look for in a coach is whether they understand the challenges you or your company are dealing with. If they don’t tick this box, then they will not provide the right support.

3 Major Challenges Healthcare Executives Will Face in 2023

The healthcare industry is currently going through some changes that can affect health institutions big and small.

These changes can put a lot of pressure on healthcare executives who may struggle with effectively preparing for the changes in the healthcare landscape.

Let’s quickly examine 5 major changes that healthcare executives will need to face in 2023 and beyond:

1) Price Transparency 

Lack of price transparency in the healthcare system has historically imposed great burdens on a patient’s ability to choose their provider (by analyzing costs) and especially paying off their medical bills.

Now the CMS has imposed new regulations to make hospital pricing more transparent and clearly publish the prices they negotiate with insurers for various medical treatments, medications, and even devices.

2) Patient Experience

People expect a higher level of satisfaction from their healthcare providers, fueled in part because of the high costs often associated with even basic health services.

Healthcare organizations will likely face a tougher time retaining patients if they do not increase patient satisfaction levels. Growing competition in the industry means the hospital can quickly lose even its long-term patients, especially if prices become more transparent and people can research providers’ different rates.

3) Introducing New Payment Models

New payment models are becoming more and more present in the healthcare industry. Systems such as bundled payments, shared savings, or even medical subscriptions are slowly becoming a necessity for every hospital to introduce at some point.

Of course, adding a new payment model comes with a lot of challenges, as executives have to balance current systems, integrate new ones, and effectively monitor their performance to determine whether this new model yields the desired results.

4) Staffing

Staffing will unfortunately remain one of the biggest roadblocks hospital managers and executives will face in 2023. Finding qualified individuals is made even harder for smaller practices that may not be able to offer the same incentives that bigger healthcare institutions have.

And the issue isn’t just about finding doctors. Hiring nurses, medical assistants, and auxiliary personnel can also pose some difficulties for managers.

5) Staff Satisfaction

Apart from patient satisfaction, managers need to care for the happiness of their staff, a lot of whom are still feeling the burnout of the Covid-19 pandemic.

Ignoring these issues can, unfortunately, underline the staffing issues as current staff may leave or retire early due to the unaddressed pressures of their work environment.

How Can Hospital Executives Prepare for These Changes?

Many hospitals are finding themselves in the midst of a much-needed transition. Apart from the 3 new trends discussed, many healthcare executives are also facing increasing pressure to respond to various consumer demands, such as more accessible eHealth services.

This is a time for transformation, and to effectively navigate all these changes, executives may want to collaborate with healthcare coaches that are trained to guide these institutions through new waters.

A healthcare coach’s role may be instrumental in helping hospital leaders effectively plan for these new trends and take their health institution further.

Top 4 Questions CEOs Should Ask For 2023

One of the most important tasks of an executive coach is to help CEO clients ask the right questions.

People in these leadership positions often need to take a step back from the day-to-day of the company and think a few steps ahead. Weaknesses and strengths need to be fully determined. Potential obstacles need to be known and prepared for. Opportunities need to be identified and leveraged fully.

And because 2022 is almost up, it’s time to look ahead at what 2023 can have in store for your company. To do that, you may want to ask yourself these 4 critical questions:

  1. What Future Economic and Geopolitical Issues May Affect Your Business in 2023?

    Companies don’t live in a void. World events, even if physically on the other side of the globe, may have a direct impact on a company’s operations.

    CEOs may need to ask themselves how current economic and geopolitical events could impose certain obstacles in 2023, and the company’s vulnerabilities. Then, it’s worth taking a look at the company’s growth plan to determine how these vulnerabilities may (or may not) slow it down.

  2. How Does the Company Plan to Improve Its Diversity and Inclusion?

    Young workers (Gen Z and Millennials) are known for having a very low tolerance for a lack of diversity and inclusion in the workplace. Companies across the board are facing increased pressures in tackling these issues head-on.

    The task cannot be postponed anymore. Becoming a more inclusive, diverse, and even sustainable company is one of the best ways for companies to attract qualified talent, and retain them better.

  3. What’s Going on in the Company’s Market?

    There are world events, and then there are market events. CEOs will need to take a close look at their industry and identify growing trends and moments that make sense to be leveraged in 2023.

    Whether it’s a new technology, a growing consumer need, or changes in the workforce itself, next year may be the perfect opportunity for CEOs to take their company forward and stay ahead of the curve.

  4. Has the Company Transformed Enough Since the Pandemic?

    The scars of the COVID-19 pandemic are still quite visible. Many businesses have found themselves in the position to make rapid changes out of necessity, from transferring their workforce to a remote work model to even drastically changing their operations to accommodate the “new reality” of lockdowns.

    Some of these changes will go away, others are expected to remain in place. CEOs should figure out which of these changes make sense to keep around.

    Moreover, it may be the perfect time to look over the mistakes of the past and plan for the next potential disruption.

So How Can You Answer These Questions?

An executive coach may help you tackle these issues and make more sense of the noise, but very broadly your job at hand is to:

Gather data.

Analyze.

Plan.

These are the steps one needs to take to effectively take their business further in 2023.

Coaching vs. Mentoring: Are they the Same?

What is a mentor? What is a coach?

Are they the same? Do their roles intersect? As both coaching and mentorship roles and programs become more and more of a necessity in business landscapes across all sectors, it may be useful to establish the key distinctions between the two roles.

Because yes, they are vastly different, even though you may also notice some similarities between the two.

The Key Differences Between a Mentor and a Coach

  • Formality

Coaching is a bit more formal than mentoring (in most cases). Usually, a coach will work as a consultant with clear definitions as to their role, activity within the company, and even the methodology used to assist organizations or employees to meet their goals.

Mentorship is often an informal agreement between two parties, such as a team leader providing a new employee with a bit more support to help them navigate their tasks.

  • Training

Mentors don’t need official training to become mentors. It can simply be someone with enough hands-on experience in a certain role helping a coworker or employee improve their skills. The approach itself can be less structured and function on a need-basis, based on the challenges the mentees face.

Coaches, on the other hand, are specifically trained to assist individuals and companies in reaching their goals.

  • Who Benefits

With mentorship, the major beneficiary is, of course, the mentee. They receive counseling from their mentor in order to better handle tasks and challenges, which can indirectly benefit the company as well. Moreover, in a mentorship program, the mentor can benefit from the process too.

With coaching, the line between the company and the employee is more blurred. Coaches take into account both parties’ needs and expectations of the coaching process.

  • Business Knowledge

Since mentors are usually from the business, they are obviously the party with more knowledge about the organization and industry in which they activate. While coaches can develop their expertise in a niche industry as well, it’s very common for them to take on clients from multiple sectors and adapt their approach on a case-by-case basis.

  • Contractual Obligations

Because mentors are usually part of the organization, they usually volunteer to take one member under their wing and provide counseling. Coaches on the other hand are hired by the company to provide these services and have clearer contractual obligations.

Coaching or Mentorship: Which One Yields Better Results?

Coaches and mentors provide very different types of help and support for individuals and companies. Choosing one over the other isn’t always wise, because when working together, they can both provide essential help for employees and the organization.

At the end of the day, it’s about the expected outcomes from each. With coaching, you expect the client to improve their skills and be better equipped to step into new positions. With mentoring, you expect the mentee to gain more confidence and learn the lay of the land from an insider.

And both are essential to the professional growth of an individual.

How Do You Measure Success in Coaching?

As more and more individuals and companies are looking for coaching services than ever before, it’s important to talk about how to measure success in this field.

Talk about the benefits of coaching is everywhere. No matter if it’s personal, executive, leadership, or other, the perks of working with a coach have not been lost on anybody.

But let’s imagine ourselves a few months or even a year down the line, as you’re working hard alongside your coach. How can you tell if the process is working for you? What are the metrics that you and your coach should be focusing on to determine if it’s successful?

How Coaching Results Are Usually Measured

Coaching is not a one-size-fits-all approach. Even if a coach works with a specific methodology, their approach will still be personalized to suit the individual needs and expectations of the client. As a result, success itself is defined based on the particularities of each client. Understanding this key aspect of coaching helps reveal the key metrics that should be taken into account when looking to review the coaching results.

So to measure the results, you need to look at the main focus areas of the process and establish the optimal way to review these areas. For instance, how you measure the results can vary widely from one focus area to another.

If the coaching process is designed to assist an employee to assume a leadership position, some metrics that could be useful to track can include:

  • Employee engagement
  • Employee/leadership satisfaction
  • Coaching self-assessments, etc.

This would be a very different review from an instance where a person receives coaching to improve their performance, which may look at:

  • How well the employee reaches targets and goals
  • New skills acquired during coaching
  • How the employee uses their new skills, etc.

How Can You Know If Coaching Was a Success?

Usually, the coach and the client will define success from the get-go to leave little room for interpretations or mistakes. This is done both at an organizational and individual level.

Moreover, it’s important to have a clear picture of where the process starts. To do this, coaches will often ask clients to go through short evaluations that help establish the baseline. These evaluations can then be repeated later on and when compared, the coach and the client can see the areas of improvement (or lack thereof).

At a personal level, of course, there are many other signs that coaching has yielded some benefits for you:

  • Achieving specific goals
  • Increased self-confidence in your abilities
  • Becoming more productive
  • Coming up with new creative ideas
  • Becoming more responsible
  • Becoming more independent and self-sufficient, etc.

Coaching reviews help track the client’s progress and even give the coach a better understanding of the areas that may require more work.

But naturally, you can define your own success when it comes to coaching. What you perceive as beneficial or an improvement is just as important as what the company or even the coach does.

Business Coaches Are Replacing Consultants. Is That Good?

Over the last few years, many companies have made a major change in their operations: ditching business consultants for business coaches.

While we won’t see business consultants going away for good, it’s clear that a lot of business executives and companies now come with different needs that coaching can fulfill much better than consultancy.

The key difference between the two lies in who will take the actual steps required for change. With business consultants, though some can provide coach-like support, it is common for these individuals to do the work and resolve the target problem. When it comes to coaching, the work is very much done by the person who receives the service.

But to understand why companies are moving from consulting to coaching, let’s take a closer look at each of them.

What Is Business Coaching?

Business coaches collaborate with owners, CEOs, and other actors in leadership and management positions in order to improve certain aspects that pertain both to the individual’s skills, and the company’s bottom line.

Coaches provide guidance and support to leaders and help them get the results they want both long-term and short-term.

For instance, they can:

  • Help leaders improve their communication skills
  • Assume the role of a mentor
  • Take a holistic approach when helping their clients
  • Guide clients through various processes, and help them overcome their challenges, etc.

What Is Business Consulting?

A business consultant is an expert in a specific discipline who provides their expertise for a company. For example, if a company wants to improve its IT systems, it may hire an IT consultant for more specialized support.

Business consultants will come in, analyze the issue at hand, and provide a solution designed to solve the issue. In some cases, they may even oversee the implementation of said solution.

Business consultants often:

  • Works in a project-based format
  • Focuses on business problems and not staff challenges
  • Creates an actionable plan to fix business problems, etc.

Why Are Companies Switching from Consultants to Coaches?

Consultants and coaches provide extremely different services. Yet, as companies are turning more and more to coaches for help, there seems to be a change in the needs that companies are looking to address.

Especially, the need to invest in people, not just the company operations. Business coaches work together with CEOs, leaders, and other key staff members to improve a company’s operation, yes, but the approach is vastly different here than in the case of a consultant.

The business coach helps the client improve their approach, enhance the skills they need for the job, and face challenges as a way to also enhance business operations. Companies now realize they need to invest in their people just as much as they invest in their operations.

Are Consultant Gigs Over?

Of course, there is a need for both. Consultants and coaches both provide essential services to improve a company’s health.

But the growing demand for coaches clearly shows that businesses are realizing they can’t ignore the need for stronger leadership anymore.

What Is Family Business Coaching, and Do You Need It?

Family businesses play a huge role in our nation’s economy, the fact remains that these types of companies can struggle to make ends meet. Whether it’s a small business that has been passed down through generations, or a multinational company, when it comes to family businesses, the “family” aspect is just as important as the “business” one.

And right now, family businesses are struggling. Most of them will shut down right before they reach their 3rd generation.

But on a positive note, there may be a way to prevent this from happening, thanks to the rise of something called “family business coaching”.

What Is Family Business Coaching?

Family business coaching offers support to help family businesses improve their operations and stay afloat. The coach can either work with an individual or a group to help the business improve its bottom line.

Family business coaches specialize in the unique challenges that most small family businesses face. Therefore, they can provide essential frameworks designed to be exclusively applicable within the context of a family business.

Not only that, but family business coaching handles the “family” aspect just as much as the “business”. Different generations can have different needs, expectations, and visions for the future. A family business coach helps the business navigate these differences to achieve optimal succession planning that can help the business live on even as it is transferred on to the next generation.

How a Family Business Coach Can Help

Family business coaches work to identify the key issues that affect a business’s performance, whether it has to do with the business itself, or something in the dynamic of the family.

Some areas where a family business coach may intervene include:

  • Family communication – In a family business, there is no way to ignore the simple fact that the way members communicate directly impacts business performance. A family business coach can help family members get on the same page and improve their communication;
  • Balancing values – One of the core elements of a family business is its values, as the business itself directly reflects the values of the family behind its helm. A coach can help family balance their values with current and future business needs;
  • Transition support – The moment when the business passes from one generation to the other is not just emotional, but it can have a negative impact on the company if it’s not done correctly. A coach can help plan this transition and prepare both the old and new generations as to what to expect during the transition, and how to handle it properly.

Do You Need a Family Business Coach?

A family business coach can help clients improve their business operations and strike a balance between company needs and family dynamics. While they will provide a lot of similar support as regular business coaches (improving communication, enhancing skill sets, etc.) their experience with family businesses specifically could prove extremely valuable in some cases.

Essentially, it doesn’t hurt to try, especially if the “family” component needs more support.

Bad Coaching Habits That Are A Huge Red Flag

Coaching can be a powerful way to help employees, team leaders, and even CEOs better navigate their daily challenges. It can make room for growth that benefits both the individual receiving the coaching, as well as the overall company.

However, it’s fair to say that not all coaches are created equal. Even with a thorough vetting process and analyzing their qualifications (that sound amazing on paper), it’s important to make sure the coach you work with is a match.

And if they are guilty of any of these bad coaching habits, you may want to rethink this relationship and keep looking:

  1. Trying to Fix Things

    The coach is not someone who will step into a business and start fixing everything that’s not working. Their role is not disruptive in any way – rather, they work with the client to help them change the way they operate.

    Coaches are often tempted to give people the answer or solution to a problem. But the good ones refrain from doing so and instead help the client reach that conclusion by themselves.

  1. Interrupting the Process

    Coaching is a lengthy process and may come with lots of silent moments. Some may try to “fill” these moments and shift the process needlessly to avoid these dull moments.

    But any good coach knows that silence doesn’t necessarily mean nothing is happening. If a coach doesn’t allow their client these moments of reflection, they can accidentally prevent them from saying something crucial or having an “aha” moment.

  1. Always Going Back to the “Book”

    Coaches can each have their own style or frameworks. But as a general rule, these guides need to be adapted to the specific needs and expectations of the person they are coaching, as well as the company.

    If a coach doesn’t seem to be flexible with their framework, and worse even disrupts the process by always going back to their set of rules, it could be an indication that the coach is not a great match.

  1. Doing the Client’s Work for Them

    Coaches can get very close to their clients – they get to know their wishes, expectations, and fears. Some may be tempted to help their clients here and there and do the work for them. It can be something as simple as writing an email on their behalf to even telling them exactly what to say during an important call.

    In either case, this is a huge red flag. Coaches should guide the process, not take charge of it.

  1. Overwhelming the Client

    Another red flag is a coach who gives the client too much homework, especially beyond the office hours. Business professionals have a lot on their plates on a daily basis, and coaches should not try to take hold of what little free time they have.

    Not only can that lead to burnout, but it can overwhelm the client to the point where they cannot even benefit from coaching at all. And this can render the entire process useless.

Coaching Someone Who Doesn’t Want Help

When we discuss how to coach someone, it’s always presumed that the person is open to being helped.

But as managers and HR specialists know, that’s not always the case. You may have a hard-working employee who could grow much faster with a bit of support but is resistant to help from their peers or even supervisors.

This can create a rather strange dynamic in the workplace. But can you overcome it and get this coaching-resistant employee to accept your help?

Why Do Some People Resist Coaching?

People can be wary of coaching for several reasons, but 3 common ones can be:

  • They Think Coaching Means They Are Not Capable

Some individuals may believe that when a manager reaches out and offers help it is because they are not capable of achieving a task or goal on their own. Of course, being coached doesn’t mean the person is not competent or qualified.

In fact, in most cases, it’s quite the opposite. A company may choose to invest in coaching the employee who shows the most potential. But if the employee struggles with their confidence, they may see it very differently than HR or managers do.

  • Change Is Difficult for Them

Coaching involves a lot of changes. From a person’s beliefs to their preferred approaches for navigating challenges or even specific actions, the coaching-resistant employee may simply not be comfortable with this level of change.

Whether it’s because they believe their way is the right way, or usually have a difficult time navigating new waters, fear of change is a huge deterrent to people’s willingness to accept help.

  • They Don’t Want to Be Held Accountable

Of course, coaching can be done for the employee who needs more support and to improve their performance. That’s a difficult position for some people to be put in, as it means they need to be held accountable for their actions.

And for some, shedding light on their misses, failures, or promises they did not follow through on is something to be avoided at all costs.

Can You Coach Someone Who’s Resistant?

Some ways to navigate this situation can include:

  • Hear them out – Simply ask your employee why they do not want to be coached. This can help you understand their position and even clear the air, which could get them to change their stance;
  • Explain your reasons – Tell your employee why you think they can benefit from coaching from the perspective of the company, but also their personal growth;
  • Bring someone from the outside – The employee may feel uncomfortable discussing their weakness or fears with a supervisor or someone from inside the company. In these cases, they are usually much more likely to open up to someone from the outside.

It’s important to understand that coaching is a two-way street.

You cannot force a person to accept your help, but you can try to level with them and understand where the resistance is coming from. This way, you may identify a better way to support them.

Accountability In Coaching: Why Credentials Matter

The world of coaching is fast-growing. It’s easier now than ever before to become a coach and start assisting people with a variety of goals, be they on a professional or personal level. However, in the past, many of these coaches have begun their journey after reading a few books on a dedicated topic, without holding much experience or expertise in the field.

This will soon stop as moving forward, people’s needs are changing greatly. More and more people have easy access to coaching services, which means we will see “new” problems that coaches will have to navigate.

And these new problems that people face will require a certain level of expertise from industry players. That, coupled with the natural rise in the entry barrier as more and more people enter the industry, are the reasons why it’s becoming more and more important to showcase your credentials in the coaching industry.

Why Are People’s Needs Changing?

It’s not necessarily that individuals encounter new problems in their personal or professional goals, though an argument can certainly be made for this as well, considering the aftermath of the global health pandemic.

More so, coaching services are today more accessible than ever. From companies that are offering employees at all levels programs to help them grow to virtual sessions you can access anytime and from anywhere, coaching is easier to tap into.

And this means that groups that have historically not been a part of the industry can also turn to coaches for help. One example would be the rise of BIPOC people seeking support and guidance in their professional journey.

It’s impossible to take out who they are, and the social-economic struggles of the community from their journey. This is why we can see a rise in BIPOC-focused coaches that specifically helps members of this community thrive.

And This Is Why Credentials Matter

As people are stepping into coaching more aware of the challenges they face in their career and personal journey, word of mouth and client testimonials aren’t enough to persuade them.

Coaching today and moving forward must instead place a bigger focus on legitimate credentials and proven models that can show the client the path they are about to follow can yield success. The promise of a big outcome won’t mean much if the coach cannot describe how they plan to get you there.

What Does This All Mean for the Client?

The industry will likely see a surge in new job openings and individuals entering the market. Clients will have more options than ever, but choosing between these options needs time.

Your coach is the person most qualified and capable to help you with your specific issue. Certification, experience, and proven models are just some of the elements you need to assess before beginning a relationship with a new coach.

So never base your decision on who makes the biggest promise. Review how the coach is planning to get you to reach your goals, to make an informed decision.