Executive Coaching brings many benefits, both tangible and intangible
The best way to justify the return on investment for executive coaching is by identifying specific challenges that your organization wishes to address with coaching. Then we can set specific goals and ways to measure progress throughout the coaching process. That way, measurement and results are baked in and you are more likely to achieve the return on investment you seek.
Research shows there are tangible and intangible benefits from executive coaching – for organizations, teams and individuals. Read on for details.
The International Coach Federation, the leading coach professional organization, has conducted and reviewed studies about coaching in organizations. They found:
- Tangible benefits with an average return on investment ranging between 430% and 790%.
- Training combined with coaching increases productivity by four times more than training alone (which makes sense given that coaching works over time to reinforce learning).
Benefits reported by companies include improvements in:
- Organizational strength
- Customer service (together with reduced customer complaints)
- Employee retention, especially among those receiving coaching
- Cost reduction and bottom line profitability
Executives and leaders receiving coaching report these benefits:
- Improved working relationships with direct reports, immediate supervisors, and peers
- Better teamwork
- Greater job satisfaction
- Reduction in conflicts
- Improved organizational commitment
- Stronger relationships with external customers
Fast Company Magazine did a survey and found that 92% of leaders being coached said that they plan to use a coach again.
As a component of my coaching engagements, I utilize a reliable assessment tool that measures leadership competencies before and after coaching. It pinpoints areas for development and provides evidence of improvements in specific leadership skills.
It is also worth noting that there are many intangible benefits that clients report, including: reduced stress, improved satisfaction and fulfillment, improved working relationships, better alignment and communication with their managers, and clearer understanding of expectations throughout the organization.
Further questions? I’ll be happy to discuss with you – book a call with me here.