Starting an Online Career Coaching Platform – Working & Key Features

Starting an Online Career Coaching Platform – Working & Key Features

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Driven by the disruption brought about by technological advances and the unprecedented emergence of the pandemic, which led to ‘The Great Resignation’ that forced people to reexamine their personal and professional priorities, the landscape of work is rapidly evolving. A lot of people are seeking guidance and support to navigate the changing career terrain as it is getting increasingly difficult to map out a path on the basis of existing knowledge and skills. This presents an opportunity for entrepreneurs to better harness and leverage technology by launching an online career coaching platform and allowing individuals to cultivate career agility.

Table of contents

Surge in Demand for Career Coaching

As mentioned above, the workforce market has been in a state of flux ever since the emergence of Covid 19, which was followed by massive layoffs, remote work and redefining of job roles. All of this cumulatively led to a surge in demand for career coaching services that holistically range from writing simple and substantial résumés to helping with interview preparation, salary negotiation, confidence building, finding work-life balance and more. That said, according to IBIS World, the market size of the Job Training & Career Counseling industry increased by 9.1% in 2022 and reached $18.4 Billion in the same year.

From being a luxury in the past to being a necessity in the present, career coaching has come a long way with several trends driving its popularity and shaping the market. Let us explore a few of them.

Technology Acceleration

Technology acceleration has accentuated virtual coaching where suitable assistance is now accessible at the tap of a button. Additionally, coaches can provide personalized coaching using data driven insights by using tools provided by career coaching platforms.

Increasing Interplay Between Humans and Machines

In a world where “technology is evolving from automating the business to being the business,” effective collaboration between machines and humans is becoming increasingly crucial in the modern work environment. Career coaches can help clients understand their strengths and how to effectively collaborate with machines for an era where human-machine interaction is essential.

Culture to Upskill and Reskill

Technology acceleration is reshaping job roles, thereby increasing the need for people to upskill and reskill to stay relevant in a technology driven world. Therefore, career coaches are the ones who identify skill gaps and encourage clients to reskill and upskill in order to meet their professional goals.

The Rise of Remote and Flexible Working

People are increasingly trying to achieve a healthier equilibrium between their professional and personal lives. This has given rise to remote and flexible working.

Career coaches are poised to help clients navigate through this new mode of work and in guiding them to focus on work-life balance.

Provide Professional Growth Services with an Online Career Coaching Platform

Top Online Career Coaching Platforms – Market Players

By leveraging technology, several online coaching platforms have risen to prominence.

A few of them are as follows:

  • Koachee – Koachee is an online coaching platform that helps coaches in connecting with individuals who are looking for career coaching services, i.e. using the platform, individuals can pick and choose coaches, schedule a session and get the advice they need.
  • Stay Nimble – Is an on demand career coaching platform that connects qualified coaches with those who are looking to take control of their careers by offering tailored support. Individuals can meet an experienced coach during a free coaching session to discuss their goals and challenges via video conferencing or real-time chat.
  • Leland – Is an online marketplace for people to access coaching in order to reach their career and educational goals. Individuals can sign up to either become a coach or to avail coaching services. Further, personalized coaching and group coaching is offered to coachees.
  • BetterUp – Is a professional coaching platform that focuses on providing bespoke coaching in areas such as career growth, leadership development, and personal resilience. The platform has certified coaches. All you need to do is answer a few questions, and they will match you with a coach that is right for you.
  • Mento – Mento is another platform that aims to help individuals navigate their career paths more effectively with effective 1-1 coaching. Individuals can start their coaching journey by answering a series of questions and the team of Mento will match with a coach.

Working of an Online Career Coaching Platform

Transcending geographical boundaries, an online career coaching platform caters to a diverse global audience. In this section, we explain the workings of an online career coaching platform.

User Types:

  • The Client
  • The Coach
  • The Admin

Business Model - Online Career Coaching (2)

The Client

  • Signs up on the career coaching platform.
  • Browse for any career coach on the basis of experience, price, language, expertise, and so on.
  • Check the schedule of the career coach from the availability calendar and then book the session.
  • Make the payment for the session.
  • Share the feedback in the form of rating and review post the session.

The Career Coach

  • The career coach creates a profile and sends the request to the admin for approval of their profile.
  • Upon approval, add info to the profile such as skills, classes offered, availability and more.
  • Accept or reject session booking requests.
  • After the successful completion of every session, receive payments from the admin.

The Admin

  • Approves the profiles of career coaches.
  • Management of session booking requests, commission, payment methods.
  • Send payment to career coaches after the successful completion of the session.
  • Check reports and analytics for better decision making.

For any business to sustain itself, monetization is vital. In this section, we discuss a few ways to monetize an online career coaching platform.

Commission

This is a popular way to monetize an online career coaching platform, i.e. the admin can charge a commission on every booking.

Advertisements

This is an old yet effective way where the admin earns by displaying advertisements on the online career coaching platform.

Membership Fees

The admin can charge membership fees from the clients and the coaches. This can either be monthly, half-yearly or annually.

Sponsored Listings

If online career coaches want a spotlight on their profile, then they can pay a specific amount and get their listings highlighted on the career coaching platform.

Start a Career Coaching Platform with Higher Profitability

Necessary Features to Have in A Career Coaching Platform

A successful career coaching platform should have a comprehensive set of features that enhance the user experience and foster trust, so that individuals can achieve their goals and career coaches can effectively deliver guidance and support. Here are some necessary features to have in a career coaching platform.

User Registration

Both career coaches and clients should be able to register and create their profiles.

Availability Calendar

Using this feature, clients can book their coaching sessions, whereas coaches can synchronize their calendars.

Video Conferencing

Both clients and career coaches can have face to face meetings in real-time using the video conferencing feature.

Secure Payment Options

The platform should offer industry’s leading secure payment gateways so that the financial information of users is not compromised.

Review and Ratings

This feature allows clients to give ratings and reviews on the basis of their experience.

Push Notifications

An online career coaching marketplace should have a push notification feature so that the users get alerts/reminders for a scheduled session.

Analytics and Reports

This feature allows the admin to view critical information so that informed decisions can be taken on the basis of data and insights.

Online Forum

This feature allows participants to discuss a particular topic in the form of posted messages.

Multilingual

This is an important feature keeping in mind that an online career coaching platform will cater to a global audience with different languages. Being able to interact with a career coaching platform in a regional language makes the platform user-centric.

Multicurrency

Just like the multilingual feature, multicurrency feature allows users to pay for a career coaching session in their currency.

CMS Management

This feature allows the admin to create, manage and modify content on the career coaching platform without the need of technical experts.

SEO Management

Using this feature, the admin can update meta tags, sitemaps, SEO URLs and so on. All of this helps in improving the visibility of the career coaching platform in relevant search engines results pages.

Order Management

Using this feature, the admin can manage session orders, subscription orders, gift card orders and so on.

Starting an Online Career Coaching Platform

An online career coaching platform can be started by following either of the two approaches, i.e. custom development or choosing a readymade solution.

Custom Development

Under this approach, the online career coaching platform is built from scratch to meet the tailored needs of a business. It offers more flexibility, customization and scalability to meet the business needs. But custom development is time consuming and expensive as everything is done from ground up.

Opting for a Ready-made Solution

This is a suitable approach for those who are looking for a quick go-to-market solution. Such career coaching software solutions are cost effective and ready-to-use, encapsulating industry specific features.

How Can FATbit Technologies Help?

FATbit Technologies is a software development company that was founded in 2004 with a vision to help startups, entrepreneurs and well-established companies to stay ahead of the curve. With 19+ years of experience, extensive industry research and keen watch on the latest trends, the team of FATbit Technologies designed and developed Yo!Coach – A ready made career coaching solution. This purpose-built solution encapsulates a wide range of exemplary features and functionalities that enhance user experience.

Key Highlights of Yo!Coach

  • White Label Readymade Career Coaching Solution
  • Fully Customizable and Scalable
  • One-Time Payment, Lifetime License
  • 12 Months of Free Technical Support
  • Secure Payment Gateways
  • Multilingual/Multicurrency
  • Mobile App for Clients
  • Screen Recording Functionality (Lessonspace)
  • Decision Driving Analytics

Aha!Interview – Online Interview Coaching Platform Powered by Yo!Coach

Aha!Interview is an interactive online coaching platform that is designed to connect professional interview coaches with individuals looking for guidance in order to clear their interviews. The platform is built with Yo!Coach and consists of rich features like screen sharing, screen recording, video conferencing, audio chat, discussion forum, and so much more.

Leverage Yo!Coach to Launch an Online Career Coaching Platform

Final Words

The outset of the pandemic and “The Great Resignation” created a great reckoning among employees that ushered in a new era in the world of work. Additionally, latest technological advancements added to the turmoil. As individuals grapple with the challenges of the evolving job market, there is a raft of career coaches that help clients to not only survive but thrive. That being said, entrepreneurs who understand this shifting paradigm have an opportunity to leverage technology and launch an online career coaching platform so that the demands of the 21st-century workforce can be met.

Disclaimer: The Blog has been created with consideration and care. We strive to ensure that all information is as complete, correct, comprehensible, accurate and up-to-date as possible. Despite our continuing efforts, we cannot guarantee that the information made available is complete, correct, accurate or up-to-date. We advise - the readers should not take decisions completely based on the information and views shared by FATbit on its blog, readers should do their own research to further assure themselves before taking any commercial decision. The 3rd party trademarks, logos and screenshots of the websites and mobile applications are property of their respective owners, we are not directly associated with most of them.


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