Why Would You Invest in a Career Coach? What’s the ROI?
One of the first questions to consider when you work with a coach is, “What’s the Return On Investment?”
Not only should the answer add to your net worth, accelerate your job search and productivity, but it can also help you convince your boss or HR to cover the cost of coaching.
The return on coaching for most organizations is at least a 5% increase in productivity and job satisfaction. And some companies report their ROI is as high as 217%.
Studies also show leaders with a coach outpace their colleagues in income earnings.
Over the years, my surveys showed that not only did leaders earn more, but they rated their personal happiness higher than their peers.
And there are other transformative benefits, including these 3 ways my client’s see a return on their investment, check it out here.
The ROI of Coaching
7x the return on initial investment
The mean return on investing in leadership coaching was 7 times the initial investment, although more than one-quarter of programs revealed returns ranging from 10% to 49%. Two in 10 recouped more than 50 times the amount they put out.
Source: Forbes, “Executive Coaching – Another Set of Clothes for the Emperor?”
There is a huge distinction between bossing and coaching. Workers who are aware of their strengths routinely increase their sales by 19% and generate up to 29% more profits.
Source: Gallup, “Give Up Bossing, Take Up Coaching: You’ll Like the Results”
Dana’s video how-to tips for hiring a coach here.
FAQs about Executive Coaching here