Companies that hire coaches can see a 529% ROI

Nov 25, 2018 | Money

The Rising Popularity of Coaching from Entrepreneur Magazine January 25, 2016

Albert Einstein once said: “Problems cannot be solved by the same level of thinking that created them.”

These words are some important especially for those of us who currently feel stuck, need a new approach, a change in life/business, more or different purpose, going through a transition or are not getting the results they want.

When you are in a situation like that, coaches can help you make significant changes in your life and business, and get the life/business and the results you always wanted to have.

Coaches are great in identifying when you are lying to yourself and pointing out any limiting beliefs that may be keeping you back from achieving what you want. A good coach will push you to your limits and will help you grow and get what you really want our of your life. While you may work hard at some point we all hit certain plateaus and have blind spots. A good coach can help you recognize and address that.

Finding the right coach is the very first step in making a significant change in your life and/or business. The right coach will be your biggest advocate. While he/she is not your friend, he/she will stand by you and support you and help you to succeed. The right coach will hold you accountable and challenge you in ways that may feel uncomfortable however; with their support you will grow more than you think you can do.

Additionally, experienced coaches will never tell you what to do or offer advice. Instead, your coach will help you identify your options and come up with the best choices based on the goals you want to achieve.

Coaching however is not only for individuals. A 2009 study of the professional coaching industry by the Chartered Institute of Personnel Development (CIPD), reported that coaching was used by 90% of the organizations surveyed. Additionally, even during the economic downturn, 70% of the organizations surveyed reported that they were increasing or maintaining their commitment to coaching.

When working with the right professional, coaching can increase sales, employee engagement and satisfaction in the workplace.

According to a study of Fortune 100 executives conducted by the Manchester Consulting Group “coaching resulted in a ROI of almost six times the program cost as well as a 77% improvement in relationships, 67% improvement in teamwork, 61% improvement in job satisfaction and 48% improvement in quality.” Even more so, a study of Fortune 500 telecommunication companies, conducted by Matrix Global, showed that executive coaching resulted in a 529% ROI.

The numbers speak for themselves on the impact the right coaching can have in an organization or an individual. If tis is not proof enough, some of the most famous people on the planet have used coaches such as Oprah, the metal band Metallica and more. Bill Gates put it best when he said: “Everyone needs a coach. We all need people to give us feedback. That’s how we improve.”

Written by Christoph Nauer.
Christoph is a Brian Tracey certified Time Management Master.
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