Coaching is the art of facilitating the performance, learning and development of another which closes the gap between thinking about doing and doing thereby accelerating a person’s potential to maximize their own performance.
The purpose and desired outcome for a coach is the “immediate, visual change in performance” of their client. Our Intentional Coach™(s) utilize two models (our Intentional Living Model™ & our Intentional Coach Model™) to guide our clients to achieve more than they ever thought possible.
Coaching and ‘life coaching’ have become very popular over the past five years. It is one of the fastest growing industries in the world. According to studies there are over 50,000 coaches in the US and that number is growing at a rate of 18% per year. There are varying opinions as to the value of coaching. Much of that comes from the vast differences in styles as well as the levels of skills and abilities of the coach. Coaching, at its most professional and skillful, can produce substantial results. Here are some industry statistics and a general overview of the value and ROI executive coaching offers:
In one study conducted by MetrixGlobal LLC, companies including Booz Allen Hamilton received an average return of $7.90 for every $1 invested in executive coaching.
A recent study of Executive Coaching in a Fortune 500 firm by MetrixGlobal reported a 529% return on investment and significant intangible benefits to the business.
A survey by Manchester Inc. of 100 executives found that coaching provided an average return on investment of almost six times the cost of the coaching.
An internal report of the Personnel Management Association showed that when training is combined with coaching, individuals increase their productivity by an average of 86% compared to 22% with training alone.
A Hay Group study of Fortune 500 companies found that 21 to 40% utilize Executive Coaching; Coaching was used as standard leadership development for elite executives and talented up-and-comers.
A 2001 study on the impact of executive coaching by Manchester Inc. showed an average ROI of 5.7 times the initial investment or a return of more than $100,000, according to executives who estimated the monetary value of the results achieved through coaching*.
Productivity (reported by 53% of executives)
Organizational strength (48%)
Customer service (39%)
Reducing customer complaints (34%)
Retaining executives who received coaching (32%)
Cost reductions (23%)
Bottom-line profitability (22%)
Working relationships with direct reports (reported by 77% of executives)
Working relationships with immediate supervisors (71%)
Working relationships with peers (63%)
Job satisfaction (61%)
Conflict reduction (52%)
Organizational commitment (44%)
Working relationships with clients (37%)
*The respondents were executives from large (mostly FORTUNE 1,000) companies who had participated in either “change oriented” coaching, aimed at improving certain behaviors or skills, or “growth oriented” coaching, designed to sharpen overall job performance. The programs lasted from six months to a year. About 60% of the executives were ages 40-49, a prime age bracket for career retooling. Half held positions of vice president or higher and a third earned $200,000 or more per year.
How do you know if you are a candidate for coaching? If you have ever said or felt any of the following, coaching could be of tremendous benefit to you.