COACHING'S RETURN ON INVESTMENT
The Metrix Global Survey reveals that executive coaching can result in a 259% increase in executive retention. According to a 2001 study by the Corporate Leadership Council, leaders awarded “meeting with an executive coach” the fourth most important development opportunity.
At Capital One, direct reports of coached executives outperform the direct reports of non-coached executives indicating that coaching is contributing to strengthening the leadership and management skills of the workforce.
According to a study of senior-level executives at Fortune 1000 companies who received developmental coaching, the average return from the program was nearly 5-7 times the initial investment.
Safeway is introducing a coaching scheme for 900 middle managers after a development program for senior management led to reduced staff turnover and increased profits. Senior management credits the executive coaching program for helping to reduce turnover by 15%.
A survey of 800 business executives by the Open University Business School and NOP Consumer Market Research found that 74% of the respondents believe that executive coaching reduces turnover by encouraging a more motivated workforce.
Kodak used executive coaching to address staff productivity and retention at a business unit with 1000 employees. The company believes that the coaching intervention contributed to double-digit productivity increases as well as decreases in waste-levels and overtime.
According to Alastair Robertson, manager of Accenture’s worldwide leadership development practice, a large employer in the hospitality industry saved between $30.7 and $61.2 billion by coaching its top 200 executives.