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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

However, such broad measures can be disconnected from the effect of specific behavior changes that the coach and the executive are addressing. The challenge is to figure out the connections between the executive’s behavior and the behavior of the organization. Lore International Institute’s Bacon suggests these possibilities:

  • Improvements in productivity
  • Reductions in absenteeism and employee turnover
  • Reductions in cycle time
  • Improvements in quality and/or reduction in waste
  • Increased customer satisfaction
  • Increased value of the opportunity pipeline

Several of these measures can even be translated into dollar values if the goal is to determine an ROI number. In every case, however, they provide a benchmark against which to measure the effectiveness of coaching.

Thus, though challenging, the business effectiveness of coaching can be measured, or at least closely approximated. And if coaching is to prove its worth, it ultimately must stand up to the same test as any other investment in the business.

 

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