(PRWEB) July 14, 2004
Average ROI on Coaching Measured at Nearly Six, According to Survey of 100 Senior Executives Released by Right Management Consultants
PHILADELPHIA (July 13, 2004) --- Executive coaching delivers a Return on Investment of nearly six times the initial cost of coaching, according to a survey of 100 senior executives who participated in coaching programs. The results of the survey were released today by Right Management Consultants.
Seventy percent of the executives who participated in the survey valued the ROI on their coaching at $100,000 or more. Nearly 30 percent put the ROI between $500,000 and $1 million.
ÂHistorically, the business value of providing senior executives with customized leadership coaching has been hard to measure,Â said Joy McGovern, Senior Vice President and Managing Consultant of RightÂs Organizational Consulting practice. ÂThis is one of the first studies to attempt to measure ROI on coaching with hard data. ÂThe survey results corroborate what coaching participants and first-hand observers have seen Â that coaching can have a dramatic impact on change in executive behavior and organizational improvements.Â
In addition to ROI, the survey also measured tangible and intangible business results of coaching. Executives said the biggest tangible business results their coaching yielded were: improved productivity (53 percent), better quality work product (48 percent) and greater organizational strength (48 percent).
From an intangible business standpoint, executives reported better relationships with their direct reports (77 percent); better relationships with their supervisors (71 percent); improved teamwork (67 percent); better relationships with peers (63 percent); and greater job satisfaction (61 percent).
Most of the 100 executives who participated in the survey were from Fortune 1000 companies. Half held positions of vice president or higher; one third earned $200,000 or more a year. Fifty-seven percent of the respondents were ages 40 to 49.
The survey was conducted by Manchester Consulting, which Right acquired in January.
About Right Management Consultants
Headquartered in Philadelphia, Right Management Consultants (http://www.right.com) is the world's largest career transition and organizational consulting firm. It offers services to corporations of all sizes through a global network of more than 300 service locations and the Internet. The company is a worldwide leader in customized career transition solutions and organizational consulting services, including assessment, leadership development, strategic talent management and strategy execution. In combination, the two lines of business enable Right to help businesses manage the entire lifecycle of their employees. Right is a wholly owned subsidiary of Manpower, Inc.
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