Credits: Photgraphy by Amoghavira
Time to think, tailored to each customer:
helps people think outside the box
.... but doesn't come out of one
So why pay (probably a fair amount of) money for a coach? Apart from the issues outlined here, there is strong evidence that the right kind of thinking space can generate huge returns.
The Manchester Review (2001- Volume 6, see link) claims that the return on investment (ROI) from coaching senior executives can be at least 5.7 times the original outlay.
Quilken (2005, see link) quotes a return on investment ranging from 3 to a staggering 1250 times cost, executives in 13 companies across 9 industries pointed out benefits: 93% cited interpersonal skills benefits and 83% cited self-management and leadership style benefits.
An influential survey of the coaching industry in the UK carried out by Jessica Javis of the Chartered Institute of Personnel and Development (CIPD 2007, see link p41) showed a wide range of benefits from those who use coaches in the world of work:
increased self awareness 68% better goal setting 62% more balanced life 61% lower stress levels 57%
enhanced self discovery 53% increased confidence 52% improved quality of life 43%
enhanced communication skills 40% increased project completion 36% improved health or fitness level 34%
better relationship with co-workers 33% better family relationships 33%
A straightforward approach to coaching ROI can be seen from WJM’s Tim Morin (2004, see link). In brief: if a client feels coaching influenced, say, sales volume, they can apply a percentage adjustment or weighting to the monetary value of the sales increase to reflect this impact.