Coaching ROI%A client survey conducted by PriceWaterhouseCoopers (April 2009) on behalf of the International Coach Federation and the Association Resource Centre found "a median return of 7 times the initial investment. In fact, almost one fifth (19%) indicated an ROI of at least 50 (5000%) times the initial investment while a further 28% saw an ROI of 10 to 49 times the investment"
Power of The Coach
We accept without question the power of coaching collaboration in the field of sport and its significant effect on performance. Indeed, if we are asked to list professional sports personalities at the top of their game who do not use a coach, we are hard-pressed to think of even one. Even amateur sports people will use coaches to facilitate improved performance. Is it not, therefore, sensible for business professionals to routinely use coaches – in order to leverage their natural talents, improve their performance and raise productivity and effectiveness? This makes all the more financial sense when seen in the light of the PricewaterhouseCoopers research.
What is a coach?
The success of a business, and the positive experience of the people within it, is highly dependent upon:
- The quality of decision making
- The robustness and versatility of business systems
- The insightfulness and imagination of the people within the business.
A coach helps leverage these factors to achieve personal and business goals. In short, a coach facilitates the achievement of goals faster and more effectively than is possible alone.
What does a coach do?
Facilitate the process of getting professionals from where they are now to where they want to be – more efficiently and effectively than would be possible alone.
An effective coach assists by supporting professionals in developing:
- Their organisation, or their role in it, to achieve organisational goals
- Themselves, to achieve their personal goals and leverage their skills and traits in their professional activities.
Essentially, coaching facilitates you to become physically, mentally and emotionally the best you can possibly be. Life is short; the brilliance endowed upon us all at birth should be fully expressed and exploited. This is achieved through a process of questioning, facilitation, suggestions and the use of various models or tools.
Often, coaching involves challenging current perceptions and mindsets – and opening up new realms of possibility.
The profitability of a business is significantly affected by internal factors – internal to the business but also internal to the people within the business. Human performance is heavily linked to physical, mental and emotional states. Coaching helps people develop an accurate appraisal of where they are on each of these levels and decide what they can do to self-actualise. Business is easy! It’s people that are difficult. And the most difficult person to get to grips with is ourself!
Benefits of using a coach
An Objective Third Party
It can be tough being the ultimate decision-maker in your business. Sometimes there are decisions to make that you cannot or do not want to put past your colleagues to gain confidence in a chosen course of action. A coach can undertake this role.
Understandably, business owners may get emotionally attached to, or influenced by, aspects of their businesses in ways that affect their judgement and the quality of decisions. This is a very human characteristic but can seriously impact business performance. A coach, not having these attachments, can reduce the negative impact of this dynamic on the decision-making process.
The ultimate decision-maker in a business normally has nobody to be accountable to. Inevitably, this affects focus and discipline. A coach can be an external, objective, third-party authority for the business owner to be accountable to and report to on a regular basis. This helps the business owner keep their commitment to themselves and keep acting in accordance with their plans.
As neurosurgeon, Dr. Henry Marsh, said:
“Other people are better at seeing our mistakes than ourselves” Dr. Henry Marsh, Do No Harm, Weidenfeld & Nicolson
A coach can give honest feedback and present it in a way that improves the quality of the decision-making process. They can support, motivate and inspire people by reminding clients of the overarching reason for doing what they are doing – and by reminding them that they already have the necessary skills and other resources to achieve their goals.
A coach improves the quality of decisions by helping clarify circumstances through exploration, discussion and debate.
Facilitate Personal Development and Creativity
A coach can bring out the best in people – while helping people identify and manage their Achilles’ heel. They can encourage self-discipline and the forming of habits that support the achievement of expressed goals. They can elicit creative powers by highlighting perspective shifts, facilitating brainstorming and the creation and management of vision boards and mood boards. Finally, a coach can encourage the balance necessary to live a healthy, fulfilling life – which recognises and celebrates each aspect of what it is to be human.
A coach may act as an advisor by filling the knowledge gaps of the people they work with. They may guide people by providing inspiration and ideas when they are not otherwise flowing. They help review and reflect upon circumstances and plans.
A coach can facilitate the decision-making process by providing unique insights from an alternative perspective, built on their experience outside the client’s business.
- Accelerates performance
- Helps measure success and progress
- Provides accountability
- Keeps you engaged
- Validates thoughts and ideas
- Stimulates creative thinking
- Identifies habits and unconscious behaviours.
a coach is a catalyst for success.
Unique 'active ingredients' of Refinity Coaching
How do I go about facilitating desired changes for a client? Although this depends upon the outcome of an initial assessment, it might be useful to elaborate.
This question has caused me to coin the term ‘Active Ingredients’ for what I do. What are the functional components of how I deliver my value? What do I do – and how do I do it to achieve my objectives? In a word, it’s my unique set of experiences and the intuition I have aquired from doing the same thing thousands of times with thousands of people over many years. More specifically:
- Rapport-building skills – preparing a relationship that facilitates trust and positive action
- Observational skills – listening and watching
- Questioning skills – asking the right questions, at the right time
- Analytical skills – making meaning out of what is said, how it is said and the context in which it is said
- Framing skills – presenting evidence in a manner that is most likely to facilitate a productive outcome
- Modelling skills – selecting and using appropriate models as tools to facilitate insight and action
Who uses a coach
People use coaches for multiple reasons in a wide variety of circumstances. The following sorts of people use coach:
people who are…
- at a turning point
- facing challenge
- thirsty for new challenges and growth
- wanting to develop their abilities and improve their performance
- wanting to improve their efficiency and effectiveness
- looking for inspiration
- wanting change or are dissatisfied with the status quo
- losing direction
- too busy and feel they are constantly firefighting urgent and important issues.
- creative and entrepreneurial but lack the discipline necessary to keep control over their business or businesses.
- generating great ideas but lack the business experience to make the best of these ideas
In other words, all of us need a coach at some time or other.
The consulting-mentoring-coaching continuum
Consultancy, mentoring and coaching lie upon a continuum
- Consultancy: A range of bespoke consultancy activities to support businesses and their leaders where they lack the resource (time or relevant relevant skill) or interest to complete it themselves.
- Mentoring: For young or inexperienced entrepreneurs who have great ideas – but lack the business experience to make the best of these ideas
- Coaching: For those who realise that they can be far more creative, productive and effective if challenged and held to account by an impartial, objective third party with a special skill set.
Types of coaching service offered (executive, corporate, group)
- 1-2-1 coaching for key individuals within the organisation. Helping them meet challenges and develop themselves as professionals.
- Offering a pool resource of regular 1-2-1 coaching for entire organisations or portfolios of employees. Helping them with current challenges within the organisation or just facilitating their professional and personal development. Coaching visits are made to the company premises, at an agreed frequency, for half or full days, as many times per week or month as the client requires. Hour slots are booked for each employee within the allotted time period.
Group Coaching & Facilitation:
- Boards of directors, groups of departmental managers, project teams or entire departments; stimulating growth and change while offering an external impartial perspective, guarding against groupthink and driving value in the organisation.