BENEFITS OF USING A BUSINESS COACH*
Professional coaching brings many wonderful benefits: fresh perspectives on personal challenges, enhanced decision-making skills, greater interpersonal effectiveness, and increased confidence. And, the list does not end there. Those who undertake coaching also can expect appreciable improvement in productivity, satisfaction with life and work, and the attainment of relevant goals.
Professional coaching maximizes potential and, therefore, unlocks latent sources of productivity.
Building the self-confidence of employees to face challenges is critical in meeting organizational demands.
Return on Investment
Coaching generates learning and clarity for forward action with a commitment to measurable outcomes.The vast majority of companies (86%) say they at least made their investment back.
Virtually all companies and individuals who hire a coach are satisfied.
*Source: ICF Global Coaching Client Study, Executive Summary, April 2009, in consultation with PricewaterhouseCoopers LLP, and Association Resource Centre inc.
The Business Case for Executive Coaching – International Coach Federation ROI Study
The higher up the organizational ladder an executive goes, the less he/she can depend on technical skills and the more one must have effective interpersonal skills and emotional intelligence. Organizations invest large sums of money to hire coaches for top executives in an effort to improve these abilities. Are coaching programs effective in improving bottom line performance in organizations?
The International Coach Federation Global Coaching Study Reports that the ROI of Executive Coaching is 700%.
The ICF conducted a qualitative and quantitative global client survey and interview research project on the return on investment of executive coaching. The design phase of the research consisted of three components: First, fourteen in-depth interviews were conducted with an international sample of coaches to assist with the design of the questions to be utilized in the qualitative and quantitative study. Second, the qualitative research phase consisted of five focus groups with a total of 41 clients participating. The focus groups allowed for in-depth probing of qualitative issues. Third, the quantitative research component consisted of 2,165 coaching clients from 64 countries participating in a 20 minute online survey.
An often cited ROI study of executive coaching, “Coaching for Increased Profitability: How to Deliver and Demonstrate Tangible Results to the Bottom Line” by Merrill C. Anderson, Ph.D. MetrixGlobal (2003) had reported an ROI from coaching of 788%.
In an apparent confirmation of that finding, the ICF Global Coaching Client Study Executive Summary (April 2009) reports, “The vast majority (86%) of those able to provide figures to calculate company ROI indicated that their company had at least made their investment back. In fact, almost one fifth (19%) indicated an ROI of at least 50 (5000%) times the initial investment while a further 28% saw an ROI of 10 to 49 times the investment. The median company return is 700% indicating that typically a company can expect a return of seven times the initial investment.” One of the most powerful questions you can ask yourself is “Can Executive Coaching help me become a better leader?” Emotionally intelligent and socially intelligent organizations provide executive coaching to help leaders grow and develop their full potential.
You can become a leader who models emotional intelligence and social intelligence, and who inspires people to become fully engaged with the vision, mission and strategy of your company.