It’s not just a badge of honor to be coached in today’s business world. Leadership coaching provides tangible benefits. Subjectively, here are some of the improvements to expect when you receive coaching:
Executive assessments identify strength areas.
Capitalize on existing strengths to improve performance, productivity, and effectiveness.
Strategize and execute individual action plans to
Improve and implement core leadership competencies.
Create positive, long-term behavior change with organizational input.
Establish career planning and development
Assist in balancing career and personal lives
Leaders with coaches have a trusted adviser that provides objective feedback,without an agenda, and serves as a sounding board for thoughts and ideas. ‘It’s lonely at the top’ – and having a coach helps a leader feel more confident in decision-making and pushing forward.
Many studies have consistently shown ROIs of 5-12 times the coaching cost, with an average of a 7X return.
A study in the Manchester Review, Vol. 6, 1 (Jan. 16,2001) reported significant improvements to coached leaders:
New or improved skills +50%
Improved relationships within a team +50%
Seeing others’ perspectives +47%
Clarity in work life +43%
Increased motivation +43%
Improved work atmosphere +40%
Sales and revenue achievements +23%
Obtained goals +20%
In today’s increasingly competitive business environment, having a coach may be the difference you need to become your true best.
For Organizations
Providing leadership coaching to your executive personnel provides a host of benefits that not only maximizes the positive impact of the executive being coached, it improves the overall organizational workplace environment. Here are some of the benefits:
Greater productivity of and impact by your leaders (see left)
Improved organizational performance and strength
Increase morale and loyalty
Provide more organizational clarity with improved leadership clarity
Enhanced employee perception of senior management by showing vested interest in employees
Reduce turnover and retain high-performing executives
Succession planning and development of key executives
A study of 100 mostly Fortune 1000 company executives wrote coached leaders reported the following increased benefits for their organization:
Increased productivity +53%
Increased customer service +39%
Retention of executives +32%
Reduction in costs +23%
Increased bottom-line profitability +22%
Improved organizational strength +48%
With the ample evidence now available to support a positive bottom-line impact from leadership coaching, many organizations now budget for their leaders to have coaches.
