If you are considering Executive Leadership Coaching for yourself you may be asking:
- What can I expect from coaching?
- How will coaching impact my work, relationships results and sense of fulfillment?
If you are considering Executive Leadership Coaching for your employees you may be asking?
- What are the organizational benefits?
- What is the ROI of coaching?
In the last two decades, Executive Leadership Coaching has emerged as a powerful and proven way to strengthen and develop leaders. While leaders coached benefit from personal and professional development, coaching has been shown to have a positive impact on the the organizational bottom-line.
Reports on the ROI of coaching indicate a 5-7 times the initial investment.
How can this be so high? Perhaps one reason is that coaching provides a customized, focused learning experience designed specifically to help leaders strengthen and develop competencies. The coaching process happens at regular intervals and learning occurs between, as well as during, coaching sessions.
More benefits of Executive Leadership Coaching
- 67% improvement in teamwork
- 71% improvement in working relationships with immediate supervisors
- 77% improvement in working relationships with direct reports.
- The ROI on the initial coaching investment was quantified at 5.7x the initial investment%
– Maximizing the Impact of Executive Coaching The Return Investment of Executive Coaching, Behavioral Change, Organizational Outcomes and Return on Investment, The Manchester Review, 2001
Coaching produced a 529% ROI and significant intangible benefits to the business, including the financial benefits from employee retention, boosting the overall ROI to 788%.
– Executive Briefing: Case Study on the Return on Investment of Executive Coaching. MetrixGlobal, LLC. Merrill C. Anderson, PhD, November 2, 2001.
– Matt Bolch, Proactive Coaching, Training. 2001, 38(5), 58-64
– Olivero, Bane and Kopelman, Public Personnel Management, 1997
- “a conservative estimate of the monetary payoff from the coaching they received” was 6 x the investment the company made in the coaching services
- The nine-month, $18,000 coaching program for each Vice-President was rated, by the executive, as returning a value of $108,000, on average
- Some participants reported a reduction as high as 47% while 74% found that coaching provided them with tools and perspectives to better address stress
- 72% of participants found they were able to prioritize time more effectively
- 79% felt better able to make decisions based on what was important to them
- 81% said that through coaching they gained a deeper understanding of their thoughts and actions that get in their way
- 85% said that coaching has made a significant difference to them and has helped them make necessary changes
– Can Coaching Reduce the Incidence of Stress Related Absenteeism? J. Ramsey adn S. Stover Kjeldsen in cooperation with the University of Norwegian University Life Sciences Department, 2002
What Business Leaders and Others are Saying about Executive Leadership Coaching:
“Across corporate America, coaching sessions at many companies have become as routine for executives as budget forecasts and quota meetings.”
– INVESTORS BUSINESS DAILY
“Coaches are not for the meek. They’re for people who value unambiguous feedback. All coaches have one thing in common. It’s that they are ruthlessly results-oriented.”
– FAST COMPANY Magazine
“I absolutely believe that people, unless coached, never reach their full potential.”
– Bob Nardelli, CEO, Home Depot
“I never cease to be amazed at the power of the coaching process to draw out the skills or talent that was previously hidden within an individual, and which invariably finds a way to solve a problem previously thought unsolvable.”
– John Russell, Managing Director, Harley-Davidson Europe Ltd.
“A coach is part adviser, part sounding board, part cheerleader, part manager and part strategist.”
-THE BUSINESS JOURNAL
“Many of the world’s most admired corporations, from GE to Goldman Sachs, invest in coaching.”
-HARVARD BUSINESS REVIEW, Nov. 2004
“A coach may be the guardian angel you need to rev up your career.”
“Coaching is having a dedicated mentor; it’s getting knowledgeable support and encouragement and a new way of looking at things when you need it.”
– EXECUTIVE FEMALE MAGAZINE
“Coaching is unlocking a person’s potential to maximize their own performance. It is helping them to learn rather than teaching them. Clients say coaching brings out their best by helping them focus, break down tasks and clarify their values.”
– FORTUNE MAGAZINE
“Executives should seek coaching when they feel that a change in behavior-either for themselves or their team members-can make a significant difference in the long-term success of the organization.”
– Marshall Goldsmith, Fast Company columnist and one of Forbes’ five most respected executive coaches