Executive Coaching: Benefits
According to a study by the International Personnel Management Association, training alone increased productivity by 22.4% while training plus coaching increased productivity by 88%. More details are available about the impact coaching is having in corporations based on study results.
None of these dramatic results is surprising. Of the 25 Emotional Intelligence Competencies identified by Daniel Goleman, fully 17 are either highly or moderately impacted by Co-Active Coaching. Learn more about coaching and the impact it has on emotional intelligence competencies.
Manchester Inc. recently released the results of a study that quantifies the business impact of external executive coaching. The study included 100 executives. Companies that provided coaching to their executives realized improvements in productivity, quality, organizational strength, customer service, and shareholder value. They received fewer customer complaints, and were more likely to retain executives who had been coached.
In addition, a company’s investment in providing coaching to its executives realized an average return on investment (ROI) of almost six times the cost of the coaching.
Among the benefits to companies that provided coaching to executives were improvements in:
- Productivity (reported by 53% of executives)
- Quality (48%)
- Organizational strength (48%)
- Customer service (39%)
- Reducing customer complaints (34%)
- Retaining executives who received coaching (32%)
- Cost reductions (23%)
- Bottom-line profitability (22%)
Among the benefits to executives who received coaching were improved:
- Working relationships with direct reports (reported by 77% of executives)
- Working relationships with immediate supervisors (71%)
- Teamwork (67%)
- Working relationships with peers (63%)
- Job satisfaction (61%)
- Conflict reduction (52%)
- Organizational commitment (44%)
- Working relationships with clients (37%)
Information provided by Coaches Training Institute, www.thecoaches.com
