It looks like you enjoyed the CBS Money Watch article post on the myths of coaching. Here is another one for you: Myth 2: Executive coaching is a nice employment perk. Fact: Coaching is as much a perk to your employees as are their computers. Employees may view coaching as a value added benefit, but the successful organizations see coaching as something much more than a perk. Done right, professional coaching can drive sales, employee engagement, creativity, workplace satisfaction, and bottom line results. Wellness programs have been shown to provide approximately a 300% return on investment (ROI). In other words, companies who spend $1 in a wellness program (e.g., exercise clubs, personal trainers, smoking cessation workshops) earn $3 as a result of decreased turnover, fewer sick days, reduced health insurance costs, etc. Its no wonder wellness programs have experienced such tremendous growth -- it makes financial sense. The ROI from professional coaching is even more astonishing. According to a Manchester Consulting Group study of Fortune 100 executives, the Economic Times reports coaching resulted in a ROI of almost six times the program cost as well as a 77% improvement in relationships, 67% improvement in teamwork, 61% improvement in job satisfaction and 48% improvement in quality. Additionally, a study of Fortune 500 telecommunications companies by MatrixGlobal found executive coaching resulted in a 529% ROI. The CIPD concludes coaching is not just perceived as a nice-to-have intervention.
Posted on: Thu, 19 Jun 2014 18:01:56 +0000
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