Coaching is the second fastest growing profession in the world according Ray Williams (and other reports). Coaching is the new buzz word in companies around the world. This is because it works.
What is the Return on Investment, ROI, for hiring a coach? Simply Google coaching ROI and a wide range of studies are listed. Most cite 500 to 700% ROI. A few site less and a few site more.
How is the ROI measured? Many of the benefits of a coaching relationship are qualitative and based on personal evaluation and opinion. In some studies, participants are asked to place a value on qualitative benefits such as skills developed or relationships impacted. Then after a coaching engagement they are asked to determine the amount of change and assign a percentage to coaching as the reason for that change.
There are quantitative measures to coaching. For example, an organization might look at sales numbers, productivity figures, or the cost of turnover and compare from before coaching to after coaching.
Ultimately, the value of coaching goes beyond an initial measure because it has a ripple effect. Deciding the ROI of coaching is in part measuring and evaluating, and it is in part awareness. Before starting a coaching relationship, decide how you will measure the ROI.
