A 2014 Study conducted by the International Coach Federation found that of those individuals who had received coaching experienced an:
- 80% improved level of self-confidence
- 73% improved relationships
- 72% improved communication skills
- 70% improved work performance
- 61% improved business management
- 57% improved time management
- 51% improved team performance
99% of those surveyed indicated that they were “somewhat or fully satisfied with their coaching experience” and 96% said they would do it again.
Coaching top executives at large companies yields 5-7x the company’s initial investment. To be more precise, in a survey commissioned by the International Coach Federation and conducted by PricewaterhouseCoopers it was found that companies that made use of professional coaching for business reasons have noticed an average return on their investment of 7x of their initial investment.
Maximizing the Impact of Executive Coaching, The Manchester Review, Volume 6, Number 1, assessed the ROI at Fortune 1000 companies for developmental coaching for senior-level executives stated the average return was nearly 5.7x the initial investment.
Metrix Global, LLC was hired by a Fortune 500 company to calculate the ROI for a leadership coaching program. The results pointed out that coaching produced a 529% ROI and also fetched other immeasurable benefits to the business, for instance, employee retention.
A professor of clinical education at Drake University, Merrill C. Anderson, at Nortel Networks, calculated employees estimated that their coaching programs earned the company a 5.2x return on investment. It also brought major intangible benefits to the business. It included the financial benefits from employee retention that boosted the returns to 7.8x of the initial investment. You can find the full case study at Coaching the Coaches, Psychology Today, 2004, and Case Study on the Return on Investment of Executive Coaching, Merrill C. Anderson, Ph.D., 2001.
In Forbes in a report about executive coaching, it was reported that corporate America is spending over $1 billion yearly on executive coaching. This rise in coaching is a result of the heightened focus on rising high potential leaders instead of a remedial effort to help to derail employees. And even the leaders themselves say it is working.
In a study conducted by MetrixGlobal LLC, pointed out that companies including Booz Allen Hamilton made an average return of $7.90 for every $1 invested in executive coaching.
In an internal report given by the Personnel Management Association, it was revealed that when you combine training with coaching, individuals increase their productivity by an average of 86% compared to 22% with training alone.
Currently the Coaching Industry is an unregulated industry. There are an extraordinary number of coach training courses all working to cash in on the current unregulated industry, meaning anyone can use a title and charge what they want, but this is changing with the International Regulator of Coaching & Mentoring (IRCM) becoming more and more well known in the world as the industry Ombudsmen. Furthermore customers are now more intelligent and savvy online, they want protection to avoid being scammed. As a professional, award winning accredited coach training company, whoever you choose to train with we recommend:
- Training with an accredited life coach training provider
- Training with an accredited life coach training provider endorsed by the IRCM
Look at other factors like who else is in the company, if they hold additional qualifications or experience in fields like: Psychology, Psychotherapy, Counseling or Business Development. What clients has the accredited life coach training company worked with? What visible Google reviews do they have, etc. to determine if a company is reputable or just a want to be.
Work to find an accredited life coach training company that is as much interested in your success after they have trained you as a Coach, as their accredited life coach training!