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.
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.