If you have hired a coach recently, have you viewed your coaching as an expense or an investment? Of course, any coaching support should, a prior, be considered an investment for the coach, his entourage, and the company. But what do companies use to measure the progress and return on real investment of corporate or business coaching?
The real return on investment of business coaching
In an article written, by ACC, on the return on investment in coaching, the coach reveals that despite numerous searches to find an answer to the question, the results remain unsuccessful and inconclusive.
However, he cites a research project set up to survey buyers of business coaching services to assess, among other things:
- If companies take the time to evaluate their investment in coaching;
- And, if they do, what means do they use to assess ROI in coaching?
This research made it possible to establish an evaluation model of ROI in coaching. Rather linear, the author explains this process of periodic evaluation which resembles a “clock tower” and which you can draw inspiration from.
Make coaching an investment
The author explains that it is doubtful that a humble financial measure will be valuable in assessing the influence of coaching in a business. According to him, and this is also what I observe, “leaders do not necessarily seek to have concrete proof that coaching has a direct impact on profit. What they are looking for is proof that coaching influences important measurements of executive performance.
It is, therefore, necessary, from the start of the coaching to:
- Clarify the purpose and expected results.
- Ensure the level of commitment and motivation of the coach.
- Finding the best coach for the coach.
- Assess the coach: their strengths, talents, behaviors, etc.
- Involve the management and, if necessary, his colleagues throughout the accompaniment.
- Schedule periodic tenure reviews to measure the progress of the coach.
- Involve the coach and management in each of these evaluations.
- Equip management so that they can adequately accompany and support the coach.
- Establish an action plan to continue the evolution of the coach at the end of the mandate.
The little accessories that make all the difference
But there is more! If you want to increase your investment in coaching tenfold and further motivate your coach, offer him the chance to be accompanied in coaching as soon as possible. The faster you act, the greater it’s chance of success. On the other hand, take an active part in its process of evolution. The coach is there, of course. But the real success of the coach is based on his commitment but also the support of those around him. And finally, focus your full attention on the talents and strengths of your coach.
This will motivate him and will therefore facilitate or even accelerate the achievement of the objectives set.