When you invest in a coach, you want to know that coaching is going to matter. You make a choice to spend invest in your future. You could take classes at a community college; you could hire a consultant to tell you what to do; you could just keep doing what you’ve always been doing. Instead, you are investing in a coach. While no coach can give you a concrete guarantee of the results of coaching, there are some good indications that it’s worth your investment.
You get your money’s worth. On the Ultimate Coach University website, we provided some of the benefits found in the studies of the return on investment in coaching. The numbers are astounding. The International Coach Federation documents a return on investment from some companies of 50 to 1.
One of the benefits to having a coaching culture that isn’t always recognized is retention.
Coaching improves retention. When you ask people how coaching changes their outlook, you will hear them say things like:
- I felt heard
- I felt more in control
- I figured out how to get along with my director.
People who experience feelings like that are more likely to stay around. They don’t feel oppressed by their surroundings. Interestingly, employees who work with the coaching client also are more likely to stay. I’ve coached many executives in direct selling companies. When I talk with their direct reports, I commonly hear them talk about how their boss is easier to work with and more pleasant to be around. They will also add that they are feeling more productive.
One of the more famous studies on ROI is from MetrixGlobal, which found a return of 5 to 1 for every dollar invested. They found that ROI was boosted even higher when you include the financial benefits of retention. Retention boosts the ROI of coaching by an addition 2.5 to 1.
Numbers like these make coaching sound too good. I wouldn’t believe them either if I weren’t a coach and have the opportunity to talk with companies that have a coaching culture. They think it’s worth every penny.
I love coaching. I love hearing people reach a new awareness of the future they can create. I may never get to see the results of the coaching, and I’m okay with that because I know that it’s making a difference in their life.