Does Coaching Really Work?

If you have been following my blogs you now know the definition of coaching, the advantages of working with a trained coach, and the true role of a coach.  You also know there is a difference in a coach, advisor, mentor, consultant, and therapist

Now, you may be asking, “Does coaching really work?” 

Check out these discoveries…………………

One study found that productivity increased by 88 percent when managers received personal coaching after they completed a workshop, and that follow-up coaching could “facilitate the transfer of learning, especially if the coaching fosters the development and use of knowledge imparted during training” (Olivero et al., 1997, p. 1)

A Cambria Consulting Study found that 90% of participants — from Wachovia Bank, Credit Suisse and Deloitte — estimated the future value of their Coaching at over $50,000 (2006).

Bersin & Associates surveyed HR executives from 760 corporations about 62 ways they can impact talent development. Their #1 choice for talent development: Coaching (2007).

Individual Benefits: In a study of 100 executives from Fortune 1000 companies who received coaching for 6 months to one year, 
the 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%)

·      Working relationships with clients (37%)

Organizational Benefits: In the same study of 100 executives, benefits to their companies included improvements in:

·      Productivity (reported by 53% of executives)

·      Organizational strength (48%)

·      Retaining executives who received coaching (32%)

·      Cost reductions (23%)

·      Bottom-line profitability (22%)

(Source:  MetrixGlobal, “Executive Briefing: Case Study on The Return Investment of Executive Coaching,” November 2, 2001.)

In a 2004 survey by Right Management consultants, 86 percent of companies said they used coaching to sharpen skills of individuals who have been identified as future organizational leaders. (Excerpt from "What An Executive Coach Can Do For You" Harvard Business School).

Booz Allen Consulting invested $414,310 in a Coaching engagement and saw bottom line benefits of $3.3 million — a 689% ROI (2004).

(Source: Industrial and Commercial Training. Guilsborough: 2006. Vol. 38, Iss. 3; pg. 122. Vernita Parker-Wilkins, Executive Development Manager, Booz Allen Hamilton, McLean, Virginia, USA.)

In 12 of the 27 EU countries (all Western/Northern Europe), coaching is widely accepted and used as a business tool. (Excerpt from the Frank Bresser Consulting Report, Results of the European Coaching Survey 2007/2008, February 2008, 2nd edition, 2009)

"We've done lots of research over the past three years, and we've found that leaders who have the best coaching skills have better business results."  
~ Tanya Clemens, V.P. of Global Executive & Organizational Development at IBM, Time, 9/25/00

"Between 25 percent and 40 percent of Fortune 500 companies use executive coaches"
  ~ Recent survey by The Hay Group, an International Human Resources consultancy

This is just a very small sampling of coaching ROI.  There are numerous other case studies, articles and reports on the benefits of coaching. 

I have also personally experienced benefits from coaching, such as:

• Professional services business tripled in less than four years when I was the senior manger of a major technology company, (2003 thru 2006).
• Successfully managed 30+ team members thru two company acquisitions (2007 & 2009).
• Volunteered and donated with the local Food Bank (2010 & 2011).
• Volunteered to work with a youth group that focuses on building leadership skills (2011).
• I completed my first half-marathon (2011).
• Left corporate management to start my own coaching and mentoring business (2011).

I honestly believe in the power of coaching because it has improved my confidence, greatly improved my listening skills, and constantly redefines my comfort zones. 

If you are still wondering what coaching is really all about, let me know.  I will be very happy to provide you with a sample coaching session and answer any questions.

I will conclude with the following quote:

"I absolutely believe that people, unless coached, never reach their full potential."  
~Bob Nardelli, CEO, Home Depot

What is the Difference?

When I am speaking with individuals or groups about my business, one of the most common questions I am asked during our conversation is:  “what is the difference in a coach and a ___________”.  The blank can be filled with advisor, consultant, mentor, or therapist.

A “coach” is many times confused with other professions.  As stated in my previous blog:

I see the word “coach” used interchangeably with mentor, trainer, consultant, and to even work in a tanning salon.  “Coach” and “Coaching” seem to be the new buzzwords that sound current when it is used to describe job duties and getting the job done quickly.

It must be very confusing to people since these terms are use interchangeably in the business environment and entertainment industry describing professions, skillsets, titles, and roles.  Some of these confused people even have “coaching” as part of their job descriptions.

So, this is what I communicate when asked the infamous question, what is the difference? 

Advisor

A person that identifies the problem and provides the client different ways to resolve the problem.

Coach

A person that helps the client help themselves.  The client has all the answers and the coach assists in the journey of the client determining what is right for them.  The focus is on today and the future by looking at reality (the way things are now) and moving towards hope (the way things can be).

Consultant

A person that is hired to solve a specific problem identified by the client.  The consultant provides the answer(s) and solves the problem.

Mentor

A person who shares their expertise with others.  They demonstrate and/or communicate on how to do something based upon their understanding or success with it.  The person they are mentoring usually has completed training or has some knowledge of the subject matter. The mentor assists with refining the skills.

Therapist

A person that helps the client correct something, typically psychological, that gets in the way of the client moving forward with their life.  The focus is on today and the past so the client can eventually move forward.

The International Coach Federation or ICF defines coaching as: "partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential."

The Coaches Training Institute or CTI states:  “CTI coaching holds that people are naturally creative, resourceful and whole - completely capable of finding their own answers to whatever challenges they face. The job of a Co-Active Coach® is to ask powerful questions, listen and empower to elicit the skills and creativity a client already possesses, rather than instruct or advise.”

A coach has many different tools to use to assist you on this journey of discovery of reality and hope.  I like to focus heavily on values and goal setting in the beginning.  This gets the individual, team, group, or business focused on what is really important to them and how progress can be measured as you move towards the future.

Individuals that have coaches are making an investment in themselves.  Businesses that have coaches and utilize coaching are making an investment in their people.  People are a businesses greatest asset, but many times people are put last on company improvement plans.  There has been research completed on how performance has improved, revenue increased, and money is saved when coaching has been utilized

So, what are you waiting for?  Now that you know the difference, get a coach and get quickly moving towards the future.