With coaching on the rise as a personal, career, and leadership development method, organizations are studying whether coaching delivers on its promise.
The verdict? There is increasing evidence that coaching is a powerfully effective way to develop people and add to bottom line business performance.
In fact, the use of coaching is increasing because it is an economical way to achieve phenomenal results. Here are the highlights:
Executives Want to Be Coached
The Stanford Graduate School of Business conducted an Executive Coaching Survey of more than 200 CEOs, board directors, and senior executives, and learned the following:
“If CEOs are willing to be coached and make changes based on coaching, it stands to reason that companies and boards should make this happen.” ~ Professor David F. Larcker
Increased productivity tops the list
In a study of senior level executives at Fortune 1000 companies who used coaching as an approach to development, those executives reported the following benefits:
The executives also reported better relationships with others, less conflict, and improved teamwork.
Another study conducted for a Fortune 500 firm by Metrix Global LLC, showed that coaching yielded an astonishing 529% ROI, as well as significant improvements in employee satisfaction, customer satisfaction, and work quality.
In a 2017 report on Building a Coaching Culture with Millennial Leaders, the Human Capital Institute (HCI) and the International Coach Federation (ICF) discovered that organizations with strong coaching cultures* had:
(*Organizations with strong coaching cultures were defined as those that value + invest in coach training for managers, who then support employees in growing their skills + enhancing their value.)
Flexible support that grows with you
Investing in coaching allows you to tailor development to each individual's situation, and provide support exactly when needed. As individuals progress, their coaches adjust to offer new insight and challenges to ensure ongoing growth and development.
Your initial investment will continue to yield returns without the need for a new program!
We're confident you'll find the value of coaching will far surpass your investment, and will begin paying off immediately.