RESULTS CREATED THROUGH COACHING
Studies have shown that coaching for top executives at large companies yields 5-7x the company s initial investment.
- Companies that have used professional coaching for business reasons have seen a median return on their investment of 7 times their initial investment, according to a study commissioned by ICF, and conducted by PricewaterhouseCoopers and Association Resource Centre Inc. (ICF Global Coaching Client Study, 2009)
- Three stock portfolios comprised only of companies that spend aggressively on employee development each outperformed the S&P 500 by 17-35% during 2003. .(How s Your Return on People? Harvard Business Review, Laurie Bassi and Daniel McMurrer, 2004)
- According to a study of senior level executives at Fortune 1000 companies who received developmental coaching, the average return from the programs was nearly 5.7 times the initial investment.. (Maximizing the Impact of Executive Coaching, The Manchester Review, Volume 6, Number 1, Joy McGovern, et.al., 2001).
CASE STUDIES
While I have not done quantitative analysis of the ROI of my own work, below are examples showcasing the value created through my coaching. I changed names and details to protect confidentiality.
RECOVERY FROM A MAJOR SETBACK
Bottom line: As the result of this coaching engagement, the client received a major promotion, and decided against leaving the company. We did not formally estimate ROI here, but given the costs of replacing a senior executive, it s safe to assume that substantial value was created through coaching.
When we began our work together, Robert S. was ready to quit his job. Under his watch the company suffered a major loss. His best friend and peer was fired as the result. Robert was devastated, stressed and confused. His self-confidence was shaken, and he was certain that his career at the company was over. He gained weight, and his family relationships were strained.
We talked, he wrote in his journal, and we talked more. We brain-stormed, we role-played a dreaded conversation with his boss, and we sent emails back and forth. We kept on peeling the onion: layer after layer of fear and pain until there was nothing but truth. And the truth was that he loved his job, he loved his company, he was passionate about the industry, and one day he would love to become one of the top executives in the firm. About six months after we began our work together, Robert got a substantial promotion something that he could not even imagine when he first started coaching. His relationships at home and at work improved, and he engaged in a steady regimen towards losing weight and improving his health.
As Robert got better at hearing his own voice, he Robert-ised his new job. Through coaching he became clear about his strengths, weaknesses, and the contribution he would like to make to his company and his community. He put on his list only the tasks where he was the best person to do the job. The rest went on his Delegate or Stop Doing list. He put together a well functioning team with the right mix of skills and experience. He has expanded his involvement with local community organizations, and in a couple of years he will run for office.
Despite his increased responsibilities, Robert has been able to take enough time for himself, his family members, and other loved ones.
Now Robert feels joyful, confident, and energized.
HIGH POTENTIAL EXECUTIVE COACHING: WHAT S NEXT?
Bottom line: As the result of our work together, the client became clear about what she wanted to do next, and landed a bigger, more satisfying job with her company.
Jane R. is an executive in a global Fortune 500 company. I was assigned to work with her as part of her accelerated leadership development program. Prior to the time of our work together, Jane had always been clear about the next step in her career development. When we began coaching, the landscape looked mostly flat and confusing. She did not know where she wanted to go next. This was a new place for her, since never before she had to actively design her future work. Also, she was privy to the plans of serious reorganization in the company, and she felt anxious about where she would land.
As the result of our work together Jane developed her personal mission statement, and discovered that the role she enjoyed the most and that was the best fit for her, was the role of the General Manager (GM). She also discovered that there was a good alignment between the culture of the company and her values, and drivers, and that she found deep meaning and satisfaction in her work.
After the initial stage of foundation building and discovery, she concluded that she wants to play the same role with the same company, and she wants to do it on a larger scale. Jane identified what she needed to work on to become the best GM in the world. With this clarity, she mapped out steps towards a new challenging, meaningful and enjoyable assignment. After the reorganization she was offered a job with a much larger portfolio and scope of responsibility.
CLOSING A MAJOR DEAL: EXECUTIVE COACHING AND CONSULTING
Summary
As the result of my involvement as a coach and a consultant, the company closed a $1.8MM round of financing with a Russian investor. Without the coaching they would have only asked for $600K. Without the consulting, chances are that they would have received nothing. I believe that the value created for the company through coaching was at least $1.2MM
The setup
A US start-up company, ABC, Inc. was in a difficult financial situation, and the leadership was deeply dissatisfied with the CEO s (we ll call her Diane) ability to attract investment. There was a high probability opportunity to receive bridge financing from a Russian investor. Diane was planning on asking for $600K.
I was brought in as an executive coach for the CEO to help her improve her performance and as a consultant to help close the deal with the Russian investor. Nobody on the team had any experience in working internationally.
Phase 1: Coaching the CEO
As we began our coaching relationship, it became clear that for a number of reasons Diane was ambivalent about receiving money from this particular investor, and that her ambivalence sabotaged the company s success. She faced the fact that $600K was not enough to make a difference for ABC, and that they needed at least $2-3MM. As we worked through her resistance, she reconnected with her commitment to the company s mission, worked through her ego, insecurities, and fears, and became excited about a prospect of generating enough cash for ABC to move forward.
When I set up my coaching relationship, I let my clients know that I might be making requests, or giving them challenges. The can respond with yes, no, or counteroffer.
I challenged Diane to ask for $3MM, she gave me a counteroffer and decided to ask for $1.8MM instead of $600K, as she originally planned.
Phase 2: Coaching the Team
In preparation for a meeting with the Russian investor, I coached the leadership team to clarify the key messages they wanted delivered to the Russian investor. They developed a vision for a successful outcome of the meeting and came to a conclusion that success meant that they would walk away with the signed Subscription Agreement. From this point I switched out of the coaching role into the consulting role to help get the agreement signed.
Phase 3: International Negotiation Consulting
I drafted the meeting agenda, and communicated with the Russian investor to get his agreement; produced a one-page Subscription Agreement in English and Russian, advised and educated the team on the ins and outs of negotiating with the Russians. I helped direct the discussion during the negotiation, and advised on follow-up steps and communication strategy with the Russian investor after the agreement was signed.
COACHING OUTCOMES
In my clients own words, here are some of the results that they attribute to our work together.
CLARITY; AWARENESS; SELF-CONFIDENCE; FOCUS; ASKING FOR WHAT I WANT AND GETTING IT; STEPPING UP; PROMOTION; NEW WAYS OF BEING IN THE WORLD; IMPROVED WORK-LIFE BALANCE; GETTING UNSTUCK; IMPROVED RELATIONSHIPS; INSPIRATION
CLARITY/INSIGHT
Because of your coaching, I have gained so much insight that has paved the way to making changes and taking charge of my life. Barbara Mancini, Inova Fairfax Hospital, Director, Neuroscience Service Line
I was quite confused about my future when I frist came to see you. Now I have clarity regarding my outlook on life and direction in which I wanted to head. L.M., Realtor, Virginia
I was able to achieve clarity of thinking without emotional baggage. C.L., Executive, International Organization, Switzerland
Through coaching I became clear on what aspects of my job I really enjoyed, and what I could do without. I later on received a job offer within the company that is a much better fit for me. R.E., financial analyst, Fortune 500 company, GA
I achieved clarity about prioritizing different kinds of goals, L.D., Member of the clergy, VA
Julia helped me to identify emotional and mental roadblocks, which I didn t even know existed, which had been hindering my ability to bring more clarity into my life. It was an incredibly beneficial process to stop, reflect, and find my core to realize the deeper purpose behind my actions and my beliefs. Erin Krampetz, Senior Change Manager, Ashoka
AWARENESS
Uncovering my blind spots and how they impact pursuit and attainment of my personal and professional goals was truly enlightening. R.N., senior executive, Fortune 500 Company
Now I understand better how I operate and how to recognize and tackle my self-sabotaging tendencies. C.S., School teacher, Washington, DC
Because of your coaching I am being consistent about being true to my own self—-which is a creative individual. Lenny Marsh, Stand-up comedian, VA
I became more attuned to how I communicate and others communicate with me. M.O., lawyer, IL
Before coaching I had feelings or emotions about who I was and how I wanted to live. Now I have developed a vocabulary to describe it to myself and others as well as some actions and goals to get the wheels in motion. A.K., Office manager, Washington, DC
Other benefits included feeling more confident and aware of my own strengths and weaknesses. Erin Krampetz, Senior Change Manager, Ashoka
SELF CONFIDENCE
Julia helped me get back confidence in myself and my own abilities. I now do not allow my feelings and self-worth be dictated by what others do or don t do. Gerald Doe, Senior Financial Analyst, CH2MHill
I learned to rely less on others, built my self-confidence. E.L., HR professional, Switzerland
I now feel more confident in my own decisions, S.N., non-profit executive, Washington, DC
Coaching enabled me to know and believe in my abilities and talents, J.M., singer, VA
FOCUS
Coaching really helped me put things into perspective and remove distractions which will improve my focus on success. V.B., Fortune 500 Executive, Colorado
Focused on problems/issues I would otherwise not have focused on, at least not as closely. M.H. Partner in a multinational law firm, Illinois
Refocused on priorities, improved my time management. C.C. Engineering executive, Colorado.
Our session this morning helped ground and focus me before a critical meeting. Thank you! C.H. Non-profit manager, Washington, DC
I am much more aware of not taking on responsibilities unless they fit my goals for the year. L.D., professor, VA
ASKING FOR WHAT I WANT AND GETTING IT
I was able to go to my principal and tell him what I needed, and ended up getting many of the things I asked for! C.S., Public School Teacher, Washington, DC
With your help I was able to negotiate a four day work week without taking a cut in pay! Plus my employer agreed to pay for my education! A.K. Office manager, Washington, DC
STEPPING UP
Through working with Julia, I have taken on more and more responsibility and assumed a leadership role, particularly at a time when there was a vacuum as my boss took on a new role and her replacement had not been found. Gerald Doe, Senior Financial Analyst, CH2MHill, Colorado
PROMOTION
From a career perspective, I ve moved from the precipice of leaving the company to acknowledging extreme satisfaction at work and accepting a promotion as a senior financial executive in the firm, Vicki Bogenberger, VP, CH2MHill, WA
NEW BELIEFS WAYS OF BEING IN THE WORLD
I no longer view my job as only the means for survival. I know it can be a calling, something I enjoy, and even for me to make a contribution. R.E., financial analyst, Fortune 500 company. A small, but important change was for me to realize that I need to think and better understand the request before I sign myself up for a project. I also realized that it is not always good for me, or others, to say yes. E.K., non-profit executive, Washington, DC
I think I have something powerful to share. Now that I am getting more comfortable with how to channel it [my gifts], without triggering all kinds of insecurities about not being good enough, or being too competitive or bossy, I am just plain glad that I have it (my knowledge, passionate interests, sense of being alive and excited about it!). I am beginning to feel OK about asking for help. R.H., college professor, Massachusetts
I am [now] more inspired and productive than ever . I have recognized the need for more play and color in my life which has altered the way I approach every day with more laughter, hope, color, and joy. Erin Krampetz, Senior Change Manager, Ashoka, Washington, DC
You made 3 significant impacts where I critically needed to change my approach to things. Namely, they are the following.
- Accepting life s setbacks, as well as changes in loved ones attitudes, and seeking new sources of joy and companionship independently.
- Learning how to say no to all those remote acquaintances who- innocently- taxed my time and energies by soliciting professional help.
- Enjoying travelling, dining and the arts without necessarily having a companion.
S.A., senior executive, Fortune 500 company, Philadelphia, PA
IMPROVED WORK-LIFE BALANCE
I ve been able to improve my health, manage stress and strengthen relationships with friends and family. Vicki Bogenberger, Vice President, CH2MHILL, Inc., Colorado
Because of better efficiency and productivity at work, I have had more time to take care of my personal life: to spend more time with my family. Gerald Doe, senior financial analyst, CH2MHill, Inc. Colorado
What you do best is integrate a person s whole life, here and there. It s not just how do I make my life at work better, or how do I make my relationship with my spouse, kid, friend better. The question your coaching helps to answer is “how do I bring together all aspects from here to there?” Lenny Marsh, Realtor, Long and Foster Real Estate
I stopped bringing work home on weekends, and I no longer apologize for it. BM, senior executive, VA
GETTING UNSTUCK
I feel unstuck and I m excited to let go of the old mindset and move my new product launches forward. Tya Bolton, CEO, Exceptional Business Solutions, LLC, Maryland.
My goal in working with an executive coach was primarily to get back on track what I believed had been a stalled career for the past 3 4 years. In three months, I have gotten more commendations from my boss and others I support than I have in two years with the company. I definitely could not have done it without Julia s excellent coaching and personable style. Gerald Doe, Senior Financial CH2MHILL, Inc., Colorado
Your sample session served as a call to action and was therefore very beneficial. Juliet Murphy, President/Founder, WOW I LOVE MY CAREER, California
I actually was able to write a couple of jokes yesterday (it s been a long time). Thank you for helping to loosen up my creative side. L.M., Stand-up comedian, Virginia
IMPROVED RELATIONSHIPS
By improving my communication skills, and setting the right priorities I developed great working relationships with colleagues in the field. Gerald Doe, Senior Financial Analyst, Colorado
INSPIRATION
I am much more relaxed, confident, and I have more clarity in my life, and I am more inspired and productive than ever. Erin Krampetz, Senior Change Manager, Ashoka, Washington, DC
Thank you for your guidance, wisdom and partnership. I look forward to our continued journey towards a more purposeful, inspired life. Barbara Mancini, Inova Fairfax Hospital, Director, Neuroscience Service Line
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