ROI of Coaching

16 November 2017 03:29

I was at a charity event one Friday evening a couple of weeks ago with a business owner friend of mine, who has been seeing a coach for a couple years now. Someone he knew came to join us and inevitably she asked what I did.

I said that I am a leadership coach to which she responded, "What a load of baloney. You can never tell if that stuff's working." I have to admit to not being the first person out of the three of us to defend my profession as my friend jumped in to tell her about the benefits he receives from coaching. I came a close second!

It's a common question though (but more often just a thought) that people have of an industry that is still in its infancy - it did only start about 25 years ago in the 1990's - and, when you have almost anyone calling themselves a coach (from bank tellers to financial planners) it's no wonder that the industry has an image problem.

However, as the industry matures, more and more research on the benefits of coaching is being undertaken. This latest article by the Association of Talent Development in the United States states that 86% of organisations saw a return on their investment and 96% of people who underwent coaching would repeat the experience.

In terms of how the benefit can be measured for the individual, then that's all in the skills suite of your coach.

An easy way for the benefit to be measured is to set out at the start of the process what you want to achieve from your coaching sessions. If you don't have clear ideas or goals, then your coach will idealy start you off visualising your BHAG (Big Hairy Audacious Goal). Then they will work backwards with you to get to your actions that you need to achieve to get to where you want to get to.

Each action will have a timeline against it, your coach will check in with you each session on how you are getting on and give you someone external to whom you can be accountable. This is the test and measure part of the Return on Investment (ROI). If you aren't progressing, then sack your coach.

You do also have to be a good fit with your coach. Any productive working relationship is built on trust, respect and a willingness to journey together for a period of time.

You need to check the credentials of your coach too i.e. associations/institutes that they belong to, qualifications that they have, recommendations from other clients, your coach's experience, etc. You should also be confident that they are willing to ask you the questions that need to be asked, listen actively (at a bare minimum, your coach generally has two ears and one mouth and they should be using those in equal proportion) and encourage you to take risks after exploring all possible opportunities.

How long should your coaching period last for? Well, that depends on you. I've had a client who only needed 3 months coaching, whilst I've been working with another individual client for nearly 3 years.

The important part is to insist on a complimentary session with your prospective coach before entering into a contract and/or handing over any money. This is the ideal, and probably only, way of seeing if your coach is the right fit for you.

Our Christmas Offer until the end of the year is 3 coaching sessions for $550, normally priced at between $1,100 and $2,200. To secure one of these 4 available offers, go to www.firsttrain.com.au/2018 or contact Chris on 0405 784017 or chris@firsttrain.com.au .

  

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