Does coaching work? That is a question I’m sure you are asking yourself and you should be asking yourself. A major component of coaching is helping you discover what gives you the greatest return on your investment of time, energy, effort and resources. This is a portion of just one study done on the ROI of professional coaching.
A study on a Fortune 500 telecommunications firm that ran a leadership development effort - in which coaching was a key component – found that a 529% return on investment was produced by the coaching process (excluding the benefits from employee retention, which were considered intangible but highly significant). Other findings from this study:
Coaching was a very effective developmental tool for the leadership development participants, producing financial and intangible benefits for the business.
Decision-making, team performance and the motivation of others were enhanced.
Three-quarters (77%) of the respondents indicated that coaching had a significant or very significant impact on at least one of nine business measures.
Employee satisfaction and customer satisfaction were considered significant sources of intangible benefits.
Respondents cited were work output (30%) and work quality (40%) improvements as a result of coaching.
(Executive Briefing: Case Study on the Return on Investment of Executive Coaching,
Merrill C. Anderson, Ph.D.)