ROI of Coaching
There are hundreds of articles articulating the value of leadership coaching based on decades of successful engagements. Some of the benefits include:
Driving Retention of Key Leadership
We often invest tens of thousands of dollars recruiting and hiring the very best leadership for our organizations. Replacing managers costs upwards of 200% of their salary, resulting in hundreds of thousands lost when we fail to retain key leaders. Providing 1:1 coaching to key leaders – especially during periods of initial onboarding – is a proven, effective way to improve retention and engagement of their high potential team members.
Increasing Employee Satisfaction
Self-reported employee turnover risk is at an all-time high. Employee engagement is not a given and according to Gallup, disengaged employees are costing the world $8.8 Trillion (9% of our GDP!). Employee engagement is an intentional, ongoing effort to create and nurture and engaging employee culture and it is driven by culture and leadership. Coaching increases awareness for key leaders, helping them identify their blind spots, engage with a 360 approach to employee satisfaction, and develop deep connections of trust and reliability with their team members.
Improving Culture
Investment in coaching for your leadership indicates a culture of trust and engagement that translates to a competitive advantage with your employees, customers and partners. A coaching culture has proven highly effective in improving bench strength for succession planning, improving team performance, increasing retention of highly valued team members, and ultimately improving productivity and profitability of your organization.
Unleashing better Results
Creating a culture of engagement results in 23% higher profitability, 18% higher productivity (sales), 18% lower turnover for high-turnover organization and 43% lower turnover for low-turnover organizations.
Encouraging Communication & Collaboration
As one develops their influence in an organization , the ability to connect with their team, peers, and leadership is critical. Enhancing communication and collaboration is essential. And coaching with real-time feedback, advice, and confidential support is one of the most effective ways of accelerating the ability of leaders to build these essential skills. Coaching clients report improvements in their relationships, conflict-resolution, and negotiation skills as well, driving better results across teams, client relationships, and organizational success.
