Executive Coaching - Unlocking Human Potential
"Coaching is unlocking a person's potential to maximize their own performance. It is helping them to learn rather than teaching them. Clients say coaching brings out break down tasks and clarify their values." - Fortune Magazine
Executive Coaching is a comparatively young discipline which can significantly impact individual and business performance. Numerous executive coaching studies reveal that ROI from such an investment in executive coaching is high, due in large part to the opportunities executive coaching presents to integrate learning into real work experiences. In other words, what an individual or business learns from executive coaching is not soon forgotten, as can often be the case with other types of training programs.
One study found that 28% of executive coaching clients had seen a marked boost in job performance -- between $500,000 and $1 million, impacting productivity, sales or profits. Another study on the ROI of executive coaching demonstrated one large healthcare employer saved as much as $60 million by implementing executive coaching among 200 key personnel.
5 Primary Executive Coaching Benefits
According to the results of these studies and others, primary benefits of executive coaching include:
- Improvement in individual performance
- Greater profits and other bottom line
- Enhanced competitiveness
- Improved client service
- People Development -- confidence, self empowerment, goal achievement, retention, and relationship improvement
Joy Maitland, founder of inemmo Business Coaching & Consulting states, “Executives who received coaching report working relationships are stronger, teamwork is more effective, and job satisfaction is higher. Organizations also see benefits of executive coaching, including higher productivity, increased organizational strength, improved executive retention, cost reductions, and greater profitability.”
Critical Thinking is Key
An additional benefit of executive coaching is less visible, but just as crucial to executive performance: critical thinking facilitation. The well-qualified executive coach offers a safe place in which to discuss issues and challenges the executive cannot comfortably address elsewhere. Via individualized assessments and the creation of a game plan aimed at strengthening real or perceived weaknesses, the executive coach offers unbiased insights and dynamic feedback to help the executive make difficult decisions courageously.
© inemmo Limited 2010 Joy Maitland MIBC FCMI FinstLM is a director of inemmo Business Coaching and Consulting