Professional Coaching
Professional Coaching is as much a perk to your employees as are their computers. Employees may view coaching as a value added benefit, but the successful organizations see coaching as something much more than a perk. Done right, professional coaching can drive sales, employee engagement, creativity, workplace satisfaction, and bottom line results. Wellness programs have been shown to provide approximately a 300% return on investment (ROI). In other words, companies who spend $1 in a wellness program (e.g., exercise clubs, personal trainers, smoking cessation workshops) earn $3 as a result of decreased turnover, fewer sick days, reduced health insurance costs, etc. It's no wonder wellness programs have experienced such tremendous growth -- it makes financial sense.
The ROI from professional coaching is even more astonishing. According to a Manchester Consulting Group study of Fortune 100 executives, the Economic Times reports "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. Additionally, a study of Fortune 500 telecommunications companies by MatrixGlobal found executive coaching resulted in a 529% ROI. The CIPD concludes "coaching is not just perceived as a nice-to-have intervention."our paragraph here.
Myth: Executive coaching is only good for upper management / Coaching is only good for entry level employees.
Fact: Coaching is good for anyone who is motivated to create a better life. Initially professional coaching or executive coaching was for upper management, and some organizations still focus their coaching efforts on their top performers. For example, a column by the Economic Times titled "A Personal Coach" says coaching is "designed to help senior leaders create and execute breakthrough ideas, develop strategic pathways and set milestones. Companies across the board are similarly opting for coaching to help their high-potential executives perform in larger, rapidly-changing roles in a globalized world."
Professionially, companies are recognizing the powerful benefits of providing coaching to rank and file employees. For example, online shoe and clothing company Zappos.com, known for their outstanding commitment to creating a culture of unparalleled customer service (they even teach this through Zappos Insights), has a full-time goals coach who works with any employee - not just management - on helping them create better lives.