“The Institute of Coaching cites that over 70% of individuals who receive coaching benefited from improved work performance, relationships and more effective communication skills.
They also reported that a huge 86% of companies feel that they recouped the investment they made into coaching, plus more on top.”
STRATEGIC COACHING PROGRAMS: THE RESEARCH & TWO CASE STUDIES
In late 2017, as I planned the expansion of Weatherby Healthcare’s coaching function, I conducted extensive research, including discussions with experts within the International Coach Federation (ICF).
In their 2018 report on how organizations use coaching, the ICF partnered with the Human Capital Institute and shared the result of their research (link to PDF of full report). With 432 coaches responding (75% from North America), 61% of those who embrace strategic coaching work in high performing organizations. The respondents in the HCI & ICF study reported a mix of approaches in how their organizations incorporate coaching:
“While nearly two in five organizations use all three modalities, this figure rises to 92% among organizations with strong coaching cultures. Organizations with more employees appear more likely to utilize all three coaching modalities.”
—Internal coaches retained on a contract basis to work with top executives
—A mix of internal and external coaches who work with executives, new leaders, managers in transition to new or bigger roles, and/or employees on personal transitions (pending retirees, new parents, balancing eldercare responsibilities, etc.)
Investment in coach training and credentialing for selective group(s) of employees to serve as embedded leader coaches, and /or volunteer internal coaches who agree to set aside monthly “office hours” to coach fellow employees in different divisions.
The bottom three numbers on this chart (I’ve checked them in red) underscore that it’s still early days as far as companies understanding the value of investing in the deployment of trained coaches internally—whether on retainer or as full time employees.
The competitive advantage goes to early adopters committed to making the most effective investment in developing talent.
As individuals and teams become increasingly skilled, the impact on leadership development, organizational development, and change management can be measured.
If you are a visionary leader in an organization of any size, whether for-profit or non-profit, contact me to discuss how you can capture the ROI of your own strategic coaching program.
Annually the ICF honors, with their Prism Award, a few organizations from around the globe that engender exemplary best-in-class coaching cultures. The criteria and selection process for receiving PRISM honors are rigorous.
The following quotes are from leaders of PRISM Award-winning organizations. Click on titles below to access brief case studies that inspire.
EY - 2017 Honorable Mention, PRISM Award
(click link above to go to PDF of Case Study)
“The people experiencing coaching across our organization are calling it ‘game-changing’…The relationship between coaching and building the highest-performing teams is straightforward. When we coach the leader…they get better and their team gets better.”
“…the survey indicated 89% improved their leadership brand and 94% would recommend coaching…leaders developed new habits around time management, are more self-reflective and engaged, converted goals into action, improved listening and communication skills, and created strategies for managing stress.”
“Data from coaching engagements with teams showed…31% revenue growth…and leadership promotions attributed to the growth of the team…”
GSK - 2018 Winner, ICF PRISM Award
(click link above to go to PDF of Case Study)
“Prior to 2010 coaching was reactive, with spiraling costs and dispersed and limited accountability…The organization reoriented coaching as a strategic tool in the transformation and success of its business. Coaching is now integral to GSK’s talent, leadership, and organizational development strategy.”
” Coaching has strong support from leaders within the organization, and more than 60% of the corporate executive team uses coaches on a regular basis.”
“…participants improved in manager effectiveness over time, improving more than three times faster than a control group.”