Category Archives: Executive Business Coaching

The Business Case For Executive Coaching – The ICF Coaching ROI Global Study

executive coaching certificationROI on executive coaching could be vague and sometimes very hard to calculate or predict. It’s not only me talking, it’s a general concern in the research related to executive coaching in the academia.

But there is a simple way to judge the ROI of an executive coaching process, which is by setting start points. Say you are hiring an executive coaching for your company and at the time of hiring you are making $X1 in pure profit. If your purpose of hiring the coach is to increase your net profit then you are looking at $X2-$X1 = ROI where $X2 is the net profit after 6 months of starting the coaching program.

Your purpose of the coaching defines how to calculate the ROI. For example, in some cases the purpose of executive coaching could only be reducing the number of man power hours of work to achieve a certain goal. In that case you start with a certain number of man power hours needed currently to finish a job, and you calculate the number of man power hours after the coaching program and the reduction of man power hours multiplied by the hourly wage equals the amount of money saved through the executive coaching.

In reality it’s never that simple, but it helps to break down your companies performance into tasks or jobs and do your math for costs and net profits and integrate every thing into one whole process that represents your company’s performance. To learn more about this process follow the link below:

===> Center for Executive Coaching educates and train executive coaches to get outstanding results for their clients

Now with the article. I hope you enjoy it.

By Maynard Brusman

The Business Case for Executive Coaching

Are you working in a company or law firm where executive coaches help leaders develop their leadership capability? Does your company or law firm provide executive coaching and leadership development for high potentials and high performing leaders?

One of the most powerful questions you can ask is “Does providing executive coaching for company leaders have a direct effect on the company bottom line?” Emotionally intelligent and socially intelligent organizations provide executive coaching and leadership development for authentic leaders at all levels of the organization.

Approximately 25 to 40 percent of Fortune 500 companies use executive coaches, according to the Hay Group, an international human-resources consultancy. According to a survey by Manchester, Inc., a Jacksonville, Florida, career management consulting firm; about six out of ten organizations currently offer coaching or other developmental counseling to their managers and executives. Another 20 percent of companies said they plan to offer coaching within the next year.

Although it was once used as an intervention with troubled staff, coaching is now part of the standard leadership development training for executives in such companies as IBM, Motorola, J.P. Morgan Chase, Hewlett-Packard and many others. Brokerage firms and other sales-based organizations such as insurance companies use coaches to bolster performance of people in high-pressure, stressful jobs.

The ICF Coaching ROI Global Study

The 2009 International Coach Federation (ICF) Global Coaching Client Study reported the median coaching ROI to be 700%. The results of the study is rather dramatic providing much needed metrics for this popular leadership development strategy..

The International Coach Federation conducted a qualitative and quantitative global client survey and interview research project between May to December 2008. The full research report was made available to the public on June 11, 2009. Highlights related to the return on investment from coaching are reported here. This is a crucial research topic — what do coaching clients say is the value of coaching?

The design phase of the research consisted of three components: First, fourteen in-depth interviews were conducted with an international sample of coaches to assist with the design of the questions to be utilized in the qualitative and quantitative study. Second, the qualitative research phase consisted of five focus groups with a total of 41 clients participating. The focus groups allowed for in-depth probing of qualitative issues. Third, the quantitative research component consisted of 2,165 coaching clients from 64 countries participating in a 20 minute online survey.

What do clients say motivates them to begin coaching? The clients cited career opportunities and business management as their most important reasons for seeking coaching services.

Both coaches and consumers of coaching services are interested in Return on Investment (ROI) studies on coaching. An often cited ROI study of executive coaching, Coaching for Increased Profitability: How to Deliver and Demonstrate Tangible Results to the Bottom Line by Merrill C. Anderson, Ph.D. MetrixGlobal (2003) had reported an ROI from coaching of 788%.

In an apparent confirmation of that finding, the ICF Global Coaching Client Study Executive Summary (April 2009) reports, “The vast majority (86%) of those able to provide figures to calculate company ROI indicated that their company had at least made their investment back. In fact, almost one fifth (19%) indicated an ROI of at least 50 (5000%) times the initial investment while a further 28% saw an ROI of 10 to 49 times the investment. The median company return is 700% indicating that typically a company can expect a return of seven times the initial investment.”

Source: ICF Global Coaching Client Study, Executive Summary, April 2009, in consultation with PricewaterhouseCoopers LLP, and Association Resource Centre inc.

Working with a seasoned executive coach trained in emotional intelligence and incorporating leadership assessments such as the Bar-On EQ-i and CPI 260 can help company leaders improve their leadership capability. You can become a leader who models emotional intelligence and social intelligence, and who inspires people to become fully engaged with the vision and mission of your company or law firm.

Subscribe to Working Resources Newsletter at http://www.workingresources.com. Visit Maynard’s Blog at http://www.WorkingResourcesBlog.com. The Society for Advancement of Consulting (SAC) awarded two rare Board Approved designations for Dr. Maynard Brusman in the specialties of Executive Coaching & Leadership Development and Trusted Advisor to Attorneys and Law Firms.

Dr. Maynard Brusman, Consulting Psychologist & Executive Coach
Working Resources
Help Companies Assess, Select, Coach, and Retain Emotionally Intelligent Leaders
Box 471525
San Francisco, California 94147-1525
Tel: 415-546-1252
E-mail: mbrusman@workingresources.com

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Tips For Hiring An Excellent Executive Business Coach For Your Small Business

executive coaching certificationAuthor: Kris Koonar

Executive business coaching is a business that is becoming very popular throughout the US, with more than 10000 coaches offering their services. Although business coaching adds a lot of value to any business, few years back only 4% of small business owners used to appoint executive business coaches. But today, the scenario has changed and more than 20% of small business enterprises are part of the industry. If you are also a small business owner and you want to hire an executive business coach then you can certain to overcome significant obstacles and profit from the professional coaching. No matter what the reason is, there are some tips that you need to follow in order to hire the right executive business coach for your small business:

Get in touch with a business coach and ask for preliminary complimentary session so that you get a basic idea of his or her working style. Speak to the coach without any charge and make the decision. The time span for this session should be somewhere between 30 to 60 minutes.

Do not forget to ask about the method that the coach use. There are some executive business coaches who make use of particular processes, while other coaches do not follow any particular structure. Process center approach can usually deliver faster than an approach that has no structure. The result of the process center approach is more sustainable as well.

Make sure that you ask for results that you might be expecting out of this relationship. If a coach is good, he or she should provide the strategies and tools to help you achieve the desired results. Depending on the outcome, the coach can provide various options from 8 to 10 programs per week, to programs of 26 weeks.

Do not forget to ask for the tool or curriculum type and the schedule that will be adopted. If you take a look at the use of proven strategies and tools, it will be easy for you to achieve results faster. It is good if the tools have documented history of getting the desired results, no matter what the issues are, like leadership, time or sales management. Program schedule should be in accordance with the tools and it should also provide some flexibility around the schedule.

Always ask for referrals because if a coach is good, he or she can give you testimonials. You can get it in any form, from letters to verbal recommendations. Do not ask for recommendations if you have not narrowed down your selection of a coach.

You can ask the coach whether he or she also has a coach or not. There are chances that most of the coaches will refer to their coaches in an indirect manner in the initial stage of the complimentary coaching session.

When you are having a third session with the chosen business coach, you can ask about money back guarantee because after these sessions you will be know the material, process and relationship that will be applicable.

Article Source: http://www.articlesbase.com/management-articles/tips-for-hiring-an-excellentexecutivebusinesscoach-for-your-small-business-192520.html

About the Author

Discover the hidden truths by Internet Marketing Consulting. Yes you can speak to The Website MBA with over 7 years experience. Special rates are available today: http://www.crackmarketing.com/consulting.htm.

===> Center for Executive Coaching educates and train executive coaches to get outstanding results for their clients

 

The Basics of Business Coaching

executive coaching certificationAuthor: Kris Koonar

Business coaching is a practice that helps in enhancing employee efficiency, to achieve substantial results in the organizational structure of a business. It speeds up the performance and sharpens your business skills. The need of business coaching is responsible for the rapid increase of its various opportunities. More often than not, clients opt for coaching to increase their sales, enhance the spirit of teamwork, increase productivity as well as improve quality. But, in times of crisis, the main aim of seeking professional assistance is to overcome business hurdles as soon as possible. The significance of coaching has increased manifolds, when analyzed in terms of the way it enhances leadership qualities in a business executive. Business coaching mainly focuses on enabling a business person to develop a unique business plan that can reflect his own identity.

Features of Business coaching:

The features of business coaching describe its basic nature and explain major aspects dealing with coaching. Some of its features are as follows:

. Interpersonal communication: Business coaching lays stress on the importance of interpersonal communication skills. It helps in getting a job done in the best possible manner. It plays a significant role in maintaining business relations with clients and expanding the business.

. Teamwork: Teamwork is one of the most significant features of business coaching. Business coaching highlights the importance of every individual in an organization, thereby infusing the team spirit in every employee coached. Besides it also encourages people to work honestly and make positive contributions to the business.

. Realizing hidden talent: It offers space to people, so that they can understand their needs and aspirations in a better manner, so that they get to know their various hidden talents and areas of improvement. It explains the need to work with people in a more confident and effective manner.

. Assessment of business potential: It assesses current business potential and demands the need to define the nature and scope of a business alliance. It helps to identify the immediate priorities, in order to get the desired results.

. Analyze scope of progress: Business coaching helps in analyzing scope of progress and creates a sense of awareness regarding business processes. It involves analysis of a number of yardsticks for coaching strategies and goals and offers methodologies for evaluation of progress.

Key elements of coaching:

There are three main elements of any business, which work in an effective business-coaching framework. They are as follows:

(a) Accountability: Accountability forms one of the most important elements of coaching. The person seeking coaching is supposed to take responsibility of the outcome of the coaching. It enables all the members to be accountable for their own actions and mistakes. It helps them to analyze their performance critically and work on it so that they can improve.

(b) Direction: Business coaching enables business people to incorporate their newly acquired learning into practical results. The directions of the coaching pattern are often realized by achieving results, which requires rigorous business planning at different levels. They are then combined together and reviewed on a regular basis in order to ensure development.

(c) Transparency: Transparency in communication and regular learning in relationships between employees and employer offers an insight into the changes that are necessary. It calls for a transparent communication at managerial levels.

Article Source: http://www.articlesbase.com/management-articles/the-basics-of-business-coaching-153913.html

About the Author

Would you like to see Four Times the Profit in your company while working less? Business Coaching can leverage your skills to achieve these results and more. We have a large database of Business Coaches to meet your strict needs, to learn more please visit http://www.businesscoach.com.

 

Tips For Hiring An Excellent Executive Business Coach For Your Small Business

executive coaching certificationAuthor: Kris Koonar

Executive business coaching is a business that is becoming very popular throughout the US, with more than 10000 coaches offering their services. Although business coaching adds a lot of value to any business, few years back only 4% of small business owners used to appoint executive business coaches. But today, the scenario has changed and more than 20% of small business enterprises are part of the industry. If you are also a small business owner and you want to hire an executive business coach then you can certain to overcome significant obstacles and profit from the professional coaching. No matter what the reason is, there are some tips that you need to follow in order to hire the right executive business coach for your small business:

Get in touch with a business coach and ask for preliminary complimentary session so that you get a basic idea of his or her working style. Speak to the coach without any charge and make the decision. The time span for this session should be somewhere between 30 to 60 minutes.

Do not forget to ask about the method that the coach use. There are some executive business coaches who make use of particular processes, while other coaches do not follow any particular structure. Process center approach can usually deliver faster than an approach that has no structure. The result of the process center approach is more sustainable as well.

Make sure that you ask for results that you might be expecting out of this relationship. If a coach is good, he or she should provide the strategies and tools to help you achieve the desired results. Depending on the outcome, the coach can provide various options from 8 to 10 programs per week, to programs of 26 weeks.

Do not forget to ask for the tool or curriculum type and the schedule that will be adopted. If you take a look at the use of proven strategies and tools, it will be easy for you to achieve results faster. It is good if the tools have documented history of getting the desired results, no matter what the issues are, like leadership, time or sales management. Program schedule should be in accordance with the tools and it should also provide some flexibility around the schedule.

Always ask for referrals because if a coach is good, he or she can give you testimonials. You can get it in any form, from letters to verbal recommendations. Do not ask for recommendations if you have not narrowed down your selection of a coach.

You can ask the coach whether he or she also has a coach or not. There are chances that most of the coaches will refer to their coaches in an indirect manner in the initial stage of the complimentary coaching session.

When you are having a third session with the chosen business coach, you can ask about money back guarantee because after these sessions you will be know the material, process and relationship that will be applicable.

Article Source: http://www.articlesbase.com/management-articles/tips-for-hiring-an-excellent-executive-business-coach-for-your-small-business-192520.html

About the Author

Discover the hidden truths by Internet Marketing Consulting. Yes you can speak to The Website MBA with over 7 years experience. Special rates are available today: http://www.crackmarketing.com/consulting.htm.