What are the Benefits of Executive Coaching
Traditional benefits of coaching include, but are not limited to:
- increased self-awareness and self-reflection
- improved decision-making and problem-solving
- development of new perspectives and challenging the status quo
- improved teamwork
- improved performance
- leveraging one’s strengths
- overcoming obstacles
- gaining competitive advantage
In addition, recent research has shown that the ROI (return on investment) for coaching is 689%, while the same study reported great improvement in the development of leadership behavior, building teams and developing staff, with 86 percent of the respondents rating coaching as “very effective”*.
Another research that compared Fortune 500 companies to Fortune Magazine’s Most Admired Companies has found that in creating great leaders Most Admired Companies are much more committed to using individual one-on-one coaching than their Fortune 500 peers: 57% versus 22% use it to a great extent**.
* Vernita Parker-Wilkins, “Business impact of executive coaching: demonstrating monetary value.” (Industrial and Commercial Training, Vol. 38, No.3, 2006, 127)
**1999, Fortune Magazine/Hay Group