Business and executive coaching can bring several benefits: fresh perspectives on personal challenges, enhanced decision-making skills, greater interpersonal effectiveness, and increased confidence. And, the list goes on.
Those who undertake coaching also can expect appreciable improvement in productivity, satisfaction with life and work, and the attainment of relevant goals.
What are some typical reasons someone might work with a coach?
An individual or team might choose to work with a coach for many reasons.
According to the 2014 International Coach Federation Global Consumer Awareness Study, consumers partner with coaches in order to:
- Optimize individual/team work performance (42 percent)
- Expand career opportunities (33 percent)
- Increase self-esteem/self-confidence (31 percent)
- Improve business management (29 percent)
- Manage work/life balance (27 percent)
Different studies have pointed to Return of Investment in coaching of 5X or more.
A CEO I coached wrote a testimonial saying his return was of 50X of his investment in coaching.
- According to a study of senior level executives at Fortune 1000 companies who received developmental coaching, the average return from the programs was nearly 5.7 times the initial investment. (Maximizing the Impact of Executive Coaching, The Manchester Review, 2001, Volume 6, Number 1, Joy McGovern, et.al.).
- According to a survey of 30 executives who participated in a large executive development program at a Fortune 500 company, coaching resulted in a 529% return on investment (Executive Briefing: Case Study on the ROI of Executive Coaching, Merrill C. Anderson, Ph.D., MetrixGlobal, LLC.).