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JACKSONVILLE,
Fla.--(BUSINESS WIRE)--Jan. 4, 2001--Manchester Inc., a supplier
of customized executive coaching programs, has released the
results of a study that quantifies the business impact of
executive coaching. The study includes data on executive behavior change, organizational improvements achieved, and the return on
investment (ROI) from customized, comprehensive executive coaching
programs.
The study
included 100 executives, mostly from Fortune 1000 companies, who
received coaching.
Participating
companies realized improvements in productivity, quality,
organizational strength, customer service, and shareholder value.
They received fewer customer complaints, and were more likely to
retain executives who had been coached.
In addition, a
company's investment in providing coaching to its executives
realized an average return on investment (ROI) of almost six times
the cost of the coaching.
Half of the
executives in the study held positions of vice president or higher
(including division president, general manager, chief executive
officer, chief financial officer, chief information officer,
partner, principal, and practice leader). Almost six out of 10
(57%) executives who received coaching were ages 40 to 49, and
one-third earned $200,000 or more per year.
The coaching
programs that executives participated in were a mix of both
change-oriented coaching -- which is aimed at changing certain behaviors
or skills -- and growth-oriented coaching -- which is aimed at
sharpening performance. The coaching programs typically lasted
from six months to one year.
Among the
results of the study:
The coaching
programs delivered an average return on investment of 5.7 times
the initial investment in a typical executive coaching assignment
-- or a return of more than $100,000 -- according to executives
who estimated the monetary value of the results achieved through
coaching.
-
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%)
Other
benefits to executives who received coaching were improved:
-
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%)
Executive
coaching programs focus on helping executives adjust to new
organizational realities and not just survive, but thrive.
Quotes
"Recent
studies show business coaching and executive coaching to be the
most effective means for achieving sustainable growth, change and
development in the individual, group and organization." --
HR Monthly
"A major benefit of
coaching is having someone who helps you see your strengths and
weaknesses and uses them to accomplish your goals." -
Minneapolis Star-Tribune
"Using [coaching]
instead of sending executives and managers to seminars two or
three times a year can be more beneficial to ongoing career
development, not to mention less expensive..."
- PC Week
"Coaching takes a
holistic view of the individual: work, corporate values, personal
needs and career development are made to work in synergy, not
against one another." -British Journal of Administrative
Management
"Coaching started in
the business world to help stressed out executives cope with their
professional and personal lives, and it still thrives in the
corporate environment. But, increasingly, individuals are turning
to coaches for help with every sort of problem." - Boston
Globe
"If you want to build
your business and at the same time have a rewarding personal life,
you call a coach." - Denver Post
"A personal coach can
help you by getting you to spell out what it is that you really
want and then working with you to make the changes that actually
enable you to get there." -The Vancouver Province
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