research
RESEARCH SAYS….
“Companies are realizing that there are substantial monetary benefits that can be identified as a result of executive coaching. In one Fortune 500 company study, coaching produced a 529% return on investment and significant intangible benefits to the business. Including the financial benefits from employee retention, this boosted the overall ROI to 788%.” -Merrill Anderson, Chief Executive Officer, Metric Global LLC
The average ROI on coaching was 5.7 times the investment made. That factor alone could result in over $100,000, according to 200+ executives who estimated the monetary value of coaching to their business. Results of 2001 study on the impact of executive coaching by Manchester Inc.
Turnover of your top management is tremendously expensive. According to one study*, replacing an executive costs roughly 150% of salary. Replacing a VP earning $200,000, for example, would cost approximately $300,000 in exit costs, recruitment and new hire expenses, training and lost sales or revenue. Many of the reasons that executives leave—stress, burnout, lack of satisfaction—can be prevented with the guidance, support and inspiration of a personal coach. Source: “The Cost of Employee Turnover”, William G. Bliss, Bliss & Associates
A current study (2005-2006) of managers worldwide cites that 51% of leaders have used a coach or mentor. The majority of those (91%) find the experience of working with a coach or mentor of moderate to great benefit to their careers.”
DDI Leadership Forecast, pg. 16.
“Training increases productivity by 22%. Coaching, which included goal setting, collaborative problem solving, practice feedback, supervisory involvement, evaluation of end results and a public presentation – increased productivity by 88%, a significantly greater gain compared to training alone.” Public Personnel Management, Winter Edition, 1997
“Some data show the quality of the relationship between boss and subordinate is a major predictor of intentions to remain. Coaching – which can help managers talk with subordinates about their developmental needs – absolutely affects the relationship positively. And there’s a big payoff.” Davis A. Thomas Fitzhugh, professor of business administration at Harvard Business School.
“ Fortune 500 companies such as IBM, Kodak, Dow Chemical, Marriott International and Glaxo Wellcome are offering personal coaches as a tool to help employees thrive.” Time Magazine, September 25, 2000
“Coaching in a corporate environment showed dramatic results in the areas of Communication, Teamwork, Leadership, Innovation, Customer Service, Productivity, Goal Setting – overall effectiveness improved 96%.” CLI, survey