As coaches we are trained to listen, to observe and to customize our approach to individual client needs. We elicit solutions and strategies from the client. The coach’s job is to provide support to enhance the skill, resources and creativity that the client already has.
Coaching is an industry that has come of age in the last decade and is here to stay. From small business to Fortune 500 companies, the use of coaching to drive results is seen as a Great Investment.
The sports metaphor for a coach best describes the relationship of an executive coach. A coach partner’s with a client, (player) to determine his/her strengths and challenges.
Once these are defined the coach works with client to build on the strengths and eliminates the gaps. Like on the field or court, the coach in the observer, trainer, encourager and reformer, with the focus always on the client!
What happens when you hire a coach?
You take yourself more seriously.
You take more effective and focused actions immediately.
You stop putting up with what is dragging you down.
You create momentum so it’s easier to get results.
You set better goal that you might not have without the coach.
Why does coaching work?
Synergy between the coach and client creates momentum
Better goals are set – ones that naturally pull the client toward the goal rather than those that require the client to push themselves to the goal.
The client develops new skills, and these skills translate into more success.
Executive Coaching Statistics
Research: A study of Fortune 1000 companies, who had engaged in coaching for performance, skills or change
Most respondents were executives at VP level or higher
60% aged between 40-49
1/3 earned $200,000 or more per year
Coaching lasted between 6 months and one year
Executives stated coaching benefits:
Improved working relationships with direct reports by 77%
Improved working relationships with immediate supervisor by 71%
Improved team work by 67%
Improved relationships with peers by 63%
Improved job satisfaction by 61%
Conflict reduction by 52 %
Improved organizational commitment by 44%
Improved relationships with clients by 37%
Organizations gained these benefits:
Improved organizational strength
Improved customer service
Reduction in customer complaints
Retention of executives who received coaching
Bottom line profitability
ROI in coaching:
On average $7.90 for every $1 invested in coaching according to Fortune 500 firms in MetrixGlobal Research
One firm in the same research reported a 529% return on investment
A survey of Manchester Inc. of 100 executives found that coaching provided an average return on investment of almost six times the cost of the coaching. Source: Manchester Inc.