21st century business demands that we adapt – quickly, skillfully, and frequently. Developing emerging leaders requires this same agility where we can focus our resources on our high potential talent and get results quickly.
“Business coaching is attracting America's top CEOs because put simply, business coaching works. In fact, when asked for a conservative estimate of monetary payoff from the coaching they got... managers described an average return of more than $100,000, or about six times what the coaching had cost their companies."
– FORTUNE Magazine
Unlike leadership training where leaders gather off site to refresh and retool, coaching focuses the development dollars directly onto the job where the leader lives and breathes. Coaching engages learning where learning happens – on the job where the challenges actually arise – enabling the leader to apply new skills, experiment with new techniques and gather feedback real time. And when leadership training is paired with coaching the results can be significant.
“In one study, training alone increased productivity by 22%, but when training was paired with coaching productivity increased by 88%.”
– The Case for Executive Coaching, Lore Research Institute
Besides getting results and offering an excellent ROI, our coaching meets other rigorous business demands:
Coaching’s impact reaches well beyond developing individual leaders: coaching positively inspires the entire enterprise. In a study of 100 executives from Fortune 1000 companies who received coaching for six months to one year, the following areas showed improvement:
– Souurce: MetrixGlobal, "Executive Briefing: Case Study on The Return Investment of Executive Coaching,"
And productivity (+53%), retention of key executives (+32%) and cost reductions (+23%) improved as well.
“I absolutely believe that people, unless coached, never reach their full potential."
– Bob Nardelli, former CEO, Home Depot