By Melissa Killeen
All through my 5 years at the University of Pennsylvania’s graduate program in Organizational Dynamics, and some 6 six years in executive coaching, I have flirted with this elusive acronym called a “ROI” (Return on Investment) like an old high school sweetheart. Using the terminology, but not really knowing what lies beneath the surface.
• According to Manchester Inc., a Florida-based coaching firm, investments in coaching were found to yield an average return on investment (ROI) of almost six times the cost of the coaching (Jan. 2001, HR.com)
• A recent study cited in the prestigious Public Personnel Management Journal found a typical management training program increased the manager’s productivity by 22%, but when combined with 8-weeks of intensive Coaching, the manager’s productivity exploded to more than 85%
• A Metrix Global LLC study (for a Fortune 500 firm and Pyramid Resource Group) found that “Coaching produced a 529% return on investment and significant intangible benefits to business. Including the financial benefits from employee retention boosted the overall ROI to 788%.”
• An Olivero, Bane & Kopermann study (1997) of a public sector municipal agency found that coupling one-on-one coaching with leadership training resulted in a near quadrupling of productivity results (from 22.4% to 88% when combined).
• The objectivity that a coach brings to a developmental opportunity is helpful to mangers seeking to make difficult changes in attitudes, work habits, perspectives and interpersonal relationships (McCauley & Hugh-James; Young & Dixon, 1996.)
• According to Personal Decisions International, a Minneapolis-based human resources consulting firm, 70% of the top 1,000 firms worldwide use some form of executive coaching (Source: HR.com, author Ann Vincola, President of a quality of life issues consulting firm, 2000)
• According to a Florida-based study of organizations and coaching (Manchester, Inc. 2001), 6 in 10 organizations currently offer coaching or other developmental counseling to their managers and executives while another 20% plan to offer coaching in the next year.
In general, the results of coaching most often cited in research studies include:
- Improved performance (both individual and team)
- Enhanced bottom line, including profit, quality, productivity, innovation, and other measures
- Improved customer service and enhanced public perception
- Professional development, including
- Enhanced goal setting and attainment
- Increased confidence and empowerment
- Skills development, especially when coaching and training are combined
- Leadership development
- Preparedness for advancement
- Enhanced balance and morale
- Enhanced relationships
- Improved retention of quality employees
“The goal of coaching is the goal of good management: that is – to make the most of an organization’s valuable resources.” — Harvard Business Review
FOR MORE INFORMATION ON HOW COACHING CAN IMPROVE THE PRODUCTIVITY AND PROFITIBILITY OF YOUR BUSINESS CONTACT A MARS VENUS COACH NOW BY EMAILING US AT USA@MARSVENUSCOACHING.COM OR BY CALLING (702) 835-9295
(Please find the original article at http://linkd.in/q5YpBV)
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