What used to be a method for dealing with troubled staff has become a tried and true way to bring successful businesses to new heights of productivity and profits. Executive coaching is the future of business, and the numbers speak for themselves.
Why should I spend money hiring a yes-man?
Coaches are more than personal cheerleaders. A good coach will inspire and push executives to constantly be motivated, have vision, and get results.
What ROI can I expect if I hire a coach?
According to a recent study by Forbes, the client-reported ROI consistently falls between 340 to 700%. A global survey by PriceWaterHouseCoopers and the Association Resource center reported an average ROI of 7 times the investment.
Why do so many companies and executives use coaching?
The short answer is leadership development. Rather than deal with employee issues and subpar leadership through costly individual interventions and waste resources on higher employee turnover or inefficiency and low productivity, businesses are now focusing resources on the growth of company leaders. With highly focused leaders realizing their potential, the above-mentioned issues are much less likely and the results are better communication, improved confidence, and interpersonal relations, a superior work-life balance, greater personal organization, business and time management, and increased productivity. Each of these improvements is a proven result of executive coaching. By developing great leaders from the start, there is no need for fallout or recovery from bad management, both of which are costly.
Develop great leaders instead of cleaning up the messes left by poor leaders. Take the initiative. Invest in coaching and see results.
Executive Coaching is considered the “best-kept secret of fortune-500 companies.”
Between 25 and 40 percent of the most successful Fortune-500 companies rely on the coaching of their leadership to further business and profits. This is no surprise to veterans in the coaching industry, considering the extraordinary results that come from taking the time to develop leaders. The profits and reputations of companies that use executive coaching encourage businesses considering this investment in their futures.
Not just for the big guys
The ROI of executive coaching is high no matter the size of a business. Small companies eager to grow would do well to take a page out of the books of large corporations in this regard. Leaders should be guided, trained, and developed into even better versions of themselves whether they are leading 5 people of 5000. Based on the current mean ROI of coaching reported by the ICF, coaching can only benefit your company.
What would I discuss with a coach?
Coaches are not for struggling businesses. They are for any leader hoping to make more money and grow their business. The best reason to hire a coach is to have an unbiased person with whom to talk and think through plans and decisions regarding business. Coaches are there to take as much time as you need to go over every detail of issues or changes you have or make. They see your blind spots and offer suggestions for improvement of both yourself and your business. Businesses fail for a huge range of reasons. Set yourself up for success with executive coaching.