|Quotes About Coaching
"Today's managers, professionals and entrepreneurs
are hiring coaches to help them with time management, a change
in career or balancing their work and personal lives."
"48 executives (surveyed) about their experiences with personal coaches...there was almost unanimous agreement that having a coach helped in all aspects of life and enhanced both business and personal relationships."
- Training Magazine
"A major benefit of coaching is having someone who helps you see your strengths and weaknesses and use them to accomplish your goals."
- Minneapolis Star-Tribune
"If you want to build your business and at the same time have a rewarding personal life, you call a coach."
- Denver Post
"A coach can help a client bring the goal into focus."
- Las Vegas Review Journal
"...want to get even further ahead?...What you need is a coach, your own personal motivator. They're not just for top-ranked tennis players any more."
- Miami Herald
"Between 25 percent and 40 percent of Fortune 500 companies use executive coaches"
- Recent survey by The Hay Group, an International Human Resources consultancy
"Asked for a conservative estimate of the monetary payoff from coaching they got, these managers described an average return of more than $100,000, or about six times what the coaching cost them."
"Who, exactly seeks out a coach?... Winners who want even more out of life."
A 2001 study on the impact of executive coaching by Manchester Inc. showed an average ROI of 5.7 times the initial investment or a return of more than $100,000 - according to executives who estimated the monetary value of the results achieved through coaching*.
Among the benefits to the companies that provided coaching:
Among the benefits to executives who received coaching were
- Productivity (reported by 53% of executives)
- Quality (48%)
- Organizational strength (48%)
- Customer service (39%)
- Reducing customer complaints (34%)
- Retaining executives who received coaching (32%)
- Cost reductions (23%)
- Bottom-line profitability (22%)
*The respondents were executives from large (mostly FORTUNE 1,000) companies who had participated in either "change oriented" coaching, aimed at improving certain behaviors or skills, or "growth oriented" coaching, designed to sharpen overall job performance. The programs lasted from six months to a year. About 60% of the executives were ages 40 to 49--a prime age bracket for career retooling. Half held positions of vice president or higher and a third earned $200,000 or more per year.
- Working relationships with direct reports (reported by
77% of executives)
- Working relationships with immediate supervisors (71%)
- Teamwork (67%)
- Working relationships with peers (63%)
- Job satisfaction (61%)
- Conflict reduction (52%)
- Organizational commitment (44%)
- Working relationships with clients (37%)
A 2001 study MetrixGlobal to determine the business benefits and return on investment of for an executive coaching program, found that "coaching produced a 529% return on investment and significant intangible benefits to the business, including the financial benefits from employee retention boosted the overall ROI to 788%."
In an article in Harvard Business Review, authors Rucci,
Kim, and Quinn, discuss how coaching contributed to the turnaround
of Sears … "In their "turnaround" effort, the company's
mission was to have Sears be a "compelling place to work, a
compelling place to shop, and compelling place to invest." They
set up rigorous measurements for (among other things) employee
attitude and satisfaction. One of their primary questions was
"How does the way you are treated by those who supervise you
influence your overall attitude about your job?" Their statistics
showed that consistently as the quality of management improved,
so did employee attitudes, and then customer satisfaction. The
numbers showed that "a 5 point improvement in employee attitudes
will drive a 1.3 point improvement in customer satisfaction,
which in turn will drive a 0.5% improvement in revenue growth."
In a billion dollar company, 0.5% increase in revenue is substantial.
Sears learned that when their managers fully value and develop
their employees (i.e., using the coach approach), they could
confidently predict future revenue growth in a particular district.
When employee satisfaction increased 5%, revenue growth in a
particular store increased by 5.5%."
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