5 Ways Coaching Can Benefit Your Business

April 10, 2013  |   Executive Coaching Blog   |     |   0 Comment

There are a wide variety of claims made for the benefit of coaching in organisations. In some cases the ROI for coaching seems to be better than any other investment. In others there appears to be no quantifiable benefit at all.

 

Here we present 5 key benefits of coaching identified by the International Coach Federation. This is based on an article written by the ICF for the Human Capital Institute. In it the ICF quotes from its own Global Client Coaching Study on the benefits of coaching.
The key benefits of Coaching are:

  1. Coaching supports organizations with key business goals. Within the coaching partnership, the coach will work with your employees to identify and create clarity around key business goals and establish effective management strategies to ensure goals are met.
  2. Coaching enhances effectiveness. This is especially important if you have employees taking on new or leadership level roles. Coaches are trained to work with clients to inspire them to their personal and professional potential, thus increasing productivity and effectiveness. Within the coach-client relationship, a focus will be placed on learning and clarity for forward action. According to the ICF Study 70% of clients reported a positive improvement in work performance.
  3. Coaching builds communication skills. The ICF Coaching Study revealed that 72 percent of those being coached noticed an improvement in communication skills. Furthermore, individuals who have engaged in a professional coaching partnership have walked away with fresh perspectives on personal challenges and opportunities, enhanced thinking and decision-making skills and enhanced interpersonal effectiveness.
  4. Coaching gives the resilience to manage uncertain economic times. Coaching is a very powerful tool in the face of uncertainty—organizations of all types and sizes have experienced the value coaching brings including: increased business performance, improved product quality, higher employee retention and morale, greater employee commitment and leadership development.
  5. Coaching restores self-confidence to organizations hit by the recession. Organizations that have experienced workforce reductions through downsizing, restructuring, or a merger place extremely high expectations on the remaining workforce. Restoring self-confidence to face the impending challenges is critical to meet organizational demands. The ICF Coaching Study shows 80% of those in coaching saw an improvement in their self-confidence.

The article identifies 5 key individual benefits of coaching. In terms of the overall benefit of coaching to business coaching offers a significant return on investment. The ICF Study found that 86 percent of companies made back at least their investment. Of those, 28 percent saw an ROI of 10 to 49 times the investment and 19 percent saw an ROI of 50 times their investment.

 

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