What exactly is Coaching?
how can it help me?
well, that sounds great!
But Is it Worth the investment?
NOTE: Your coaching investment may be tax deductible. In the United States, all expenses for continuing education undertaken to maintain and improve business and professional skills are tax deductible. (Treas. Reg. 1-162-5, Coughlin vs. Commissioner, 203F 2d 307). Contact your tax consultant or if you live outside the United States check with your local tax authority.
One of the frequent questions that I get from prospective coaching clients window shopping coaching programs is about their “return on investment” or ROI.
They don’t always ask it in such an upfront way, using terms from the business world, but their question is all the same: “Your fee is pretty steep! I might be willing to invest that much, but I need to know upfront what the payoff for your coaching is. What can I expect in return for my money?”
Over the years various studies have looked at how coaching affects an organization’s return on investment (ROI). This research is easily found on the internet, but what it says boils down to this: Coaching pays big dividends!
Check out these notes from the field (compiled by Dan Kennedy from resultsthatmatter.com):
Forbes reports that a recent global survey of coaching clients by Price-Waterhouse-Coopers and the Association Resource Center showed that the mean ROI for companies investing in coaching was 7 times the initial investment, with over a quarter reporting an ROI of 10 to 49 times. Read more.
Fortune Magazine reports that in one study, when managers of a major firm were asked for a conservative estimate of the monetary payoff from the coaching, they claimed an average return of more than $100,000, or about six times what the coaching had cost their companies. Read more.
How many times have you went to a conference or training, received some great materials, got excited about the possibilities, and then went home to do nothing about it? Check this out...
In a study featured in Public Personnel Management Journal it was reported that managers who underwent a managerial training program showed an increased productivity of 22.4%. However, a second group was provided coaching following the training process and their productivity increased by 88%. Meanwhile, Business Wire has reported that Xerox Corporation carried out research that showed that in the absence of follow-up coaching to their training classes, 87% of the skills change brought about by the program was lost. And an International Personnel Management Association survey found that productivity increased by 88% when coaching was combined with training compared to a 22% increase with training alone.
Finally, an oft quoted study by the Manchester Group reports not only organizational benefits from coaching included ROI figures ranging from $100,000 to $1 million, but also an increase of intangible benefits, including:
Improved Relationships—77%
Improved Teamwork—67%
Improved Job Satisfaction—61%
Improved Productivity—53%
Improved Quality—48%
These “intangible” benefits are issues that I have found coming up again and again in coaching sessions with my private clients.
So, are you ready to get started? CLICK HERE to get on my calendar for a complimentary consultation.
They don’t always ask it in such an upfront way, using terms from the business world, but their question is all the same: “Your fee is pretty steep! I might be willing to invest that much, but I need to know upfront what the payoff for your coaching is. What can I expect in return for my money?”
Over the years various studies have looked at how coaching affects an organization’s return on investment (ROI). This research is easily found on the internet, but what it says boils down to this: Coaching pays big dividends!
Check out these notes from the field (compiled by Dan Kennedy from resultsthatmatter.com):
Forbes reports that a recent global survey of coaching clients by Price-Waterhouse-Coopers and the Association Resource Center showed that the mean ROI for companies investing in coaching was 7 times the initial investment, with over a quarter reporting an ROI of 10 to 49 times. Read more.
Fortune Magazine reports that in one study, when managers of a major firm were asked for a conservative estimate of the monetary payoff from the coaching, they claimed an average return of more than $100,000, or about six times what the coaching had cost their companies. Read more.
How many times have you went to a conference or training, received some great materials, got excited about the possibilities, and then went home to do nothing about it? Check this out...
In a study featured in Public Personnel Management Journal it was reported that managers who underwent a managerial training program showed an increased productivity of 22.4%. However, a second group was provided coaching following the training process and their productivity increased by 88%. Meanwhile, Business Wire has reported that Xerox Corporation carried out research that showed that in the absence of follow-up coaching to their training classes, 87% of the skills change brought about by the program was lost. And an International Personnel Management Association survey found that productivity increased by 88% when coaching was combined with training compared to a 22% increase with training alone.
Finally, an oft quoted study by the Manchester Group reports not only organizational benefits from coaching included ROI figures ranging from $100,000 to $1 million, but also an increase of intangible benefits, including:
Improved Relationships—77%
Improved Teamwork—67%
Improved Job Satisfaction—61%
Improved Productivity—53%
Improved Quality—48%
These “intangible” benefits are issues that I have found coming up again and again in coaching sessions with my private clients.
So, are you ready to get started? CLICK HERE to get on my calendar for a complimentary consultation.
