Growing studies reveal how executive coaching maximizes ROI for organizations. The Institute of Coaching (an affiliate of Harvard Medical School), indicates that 86% percent of companies reported receiving a full return on their investment and more.
Still, I’m often approached by savvy HR professionals and top executives who ask: when do companies invest in executive coaching instead of leaving it to the existing leadership development and performance management processes?
It’s a relevant question with several answers depending on the organization’s needs. Regardless of the response, they frequently follow with the question: but does it work?
While coaching can’t guarantee success for every individual, I can confidently say that most professionals I work with make notable strides and many reach a high level of achievement and satisfaction in their professional and personal lives. Executive coaching maximizes ROI by expanding emotional intelligence, leadership skills, and other growth points that directly impact the organization’s success.
Key Factors for Successful Outcomes
Leadership development through executive coaching is a targeted approach that elicits heightened performance from a well-compensated leader.
Successful executive outcomes depend on four key contributors:
· Clear communication of objectives