Coaching is an investment. Many professionals who consider coaching go straight for the price tag in order to do a quick cost vs. benefit analysis. However, your dollars aren’t the only thing you spend on coaching. You’re also spending time and potentially, a lot of emotional energy (often your most valuable resource).
Is coaching worth your money, time, and effort? What types of benefits can you expect from coaching? How can you quantify it before committing?
Fortunately, you aren’t the first person to ask these questions.
The effects of coaching can be quantified.
In fact, they have. Several firms over the past decade have tackled this topic and come up with intriguing results.
The Manchester Review found that executive leaders who were coached up to one year experienced:
- 67% improvement in teamwork
- 71% improvement in working relationships with immediate supervisors
- 77% improvement in working relationships with direct reports
Metrix Global released a case study on the ROI of executive coaching and found coaching produced a 529% ROI, along with “significant intangible benefits to the business, including the financial benefits from employee retention, boosting the overall ROI to 788%.”
Fortune Magazine also did a study that found 74% of executives reported that coaching “provided them with tools and perspectives to better address stress.” Some executives reported a decrease in stress by as much as 47% after coaching.
This data is pretty compelling. Even so, is it the whole story?
Truth be told, data is only part of the story.
While coaching can produce profound quantifiable results that you can measure in dollars and cents, personally, I think the biggest “bang for your buck” in coaching is intangible.
Think about what you want to achieve. Now think about what’s standing in your way of achieving it. What if coaching was the solution to closing the gap?
How much would it be worth to you if you:
- Turned your dream into a reality?
- Developed balanced and harmonious relationships with your family, friends, colleagues, and clients?
- Experienced inspiration and motivation each day?
In my opinion, there’s no contest. Becoming a fully integrated human being who resonates with the confidence to play big, the self-respect to set healthy boundaries, and the contagious joy to incite others to succeed is valuable beyond compare. When you come into coaching with an open heart then the results you’ll get can be priceless.
As I wrap up this post, I want to share a powerful story from one of my clients, Heather, who wrote to tell me how she was able to become the best wife, mother, friend, daughter, employee, and human being through her coaching experience. Imagine the return on her investment she attributes to this success! Take a minute to read her priceless story.