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in Life AWARENESS Rss

The Business Results of Coaching

Posted on : 21-02-2013 | By : Cathy | In : Coaching, Metrics, ROI

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And to continue the discussion started on Tuesday…

For large firms, coaching consultancy MetrixGlobal suggests seven critical steps for measuring ROI from a coaching engagement:

  1. Set objectives for the coaching session that are specific, measurable, achievable, realistic, and time bound. Establish a benchmark for performance from existing appraisals and reviews.
  2. Ensure that coaching objectives flow from overall project objectives and/or business objectives.
  3. Communicate the methodology for measuring the monetary value of the coaching program before the program begins.
  4. Identify the opportunity costs of the client’s time for participating in coaching.
  5. Capture the monetary value of the coaching in tandem with the intangible value.
  6. Validate the calculation with the managers being coached.
  7. Communicate the results of the coaching program to key stakeholders in the organization.

Smaller firms, on the other hand, often cannot spend the time and effort to achieve the same level of measurement precision. In that case, there are several steps they can take to come up with quantifiable measures, if not quite ROI metrics. Among them are:

  • 360-degree surveys
  • Climate surveys within the organization
  • Employee performance metrics
  • Customer surveys

The Business Results of Coaching

Posted on : 19-02-2013 | By : Cathy | In : Coaching, Metrics, ROI

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Without a doubt, coaching is the hottest approach to enhancing the performance of the people in an enterprise—whether it’s teams of coaches working with managers in a Fortune 500 company, transition coaching for new C-level executive hires, or coaches working with the owners of small businesses or sole proprietorships. It is clear from the increasing acceptance and investment in coaching, among the broad spectrum of business in many countries, that we believe coaching works.

But how well does it work? And how hard is it to measure?

In recent years, there have been a couple of detailed, well-documented studies that put the ROI of major coaching engagements within Fortune 500 companies between 600% and 700%, depending upon how improved retention was calculated.

But studies of this precision—funded by the corporate clients—are generally too costly to be meaningful as a sustained way of assessing the business benefits of coaching even at the level of large corporations.

Moreover, the issue of the benefits of coaching is, if anything, even more relevant to small business. For many firms considering hiring a coach, the notion of funding a major study to assess the results is laughable, yet it is critical that they be able to associate the benefits they are deriving from their investment in coaching.

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