A Skilled Business Coach Is Worth Their Weight In Gold

A Business Coach can be a very effective developmental tool for leadership development, as well as producing financial and intangible benefits for any business. A good coach can provide you and your employees with a rich learning environment that allows the learning to be applied to a variety of business situations. Key skills such as decision-making, team performance and the motivation of others can be strengthened and enhanced.

In a recent study of a Fortune 500 company that had launched a business coaching program they were able to identify specific financial and intangible benefits that came as a result of their coaching.

The two things most significantly impacted by business coaching were productivity and employee satisfaction. These two items alone underscore just how valuable a good coach can be to your business. Happy employees are not only more productive they are more creative and more willing to go the extra mile. They are also more willing to “think outside the box” which is where lucrative innovations originate.

The next areas most significantly impacted by business coaching were work output and work quality. Twenty percent of the respondents said they could clearly identify a financial benefit directly related to their increased output. Imagine how even a ten percent increase in work output by you and your employees could impact you bottom line! That alone would more than reimburse you for the costs associated with a quality business coach.

The same study found that when program costs were tabulated to determine a return on investment their business coaching program produced a 788% return on the investment. In this case the company in question had experienced downsizing and other factors impacting employee retention. When they excluded the financial benefits related to employee retention they still found the coaching program produced a 529% return on their investment. While those who had customer or people responsibilities produced proportionally greater financial benefits, the realization of benefits to the business was fairly widespread throughout the group involved in this study. What other single thing could you do for your business that could make such a huge impact?!

While this study was dealing specifically with a large company, any company of any size can benefit exponentially by adding a skilled business coach to their team. Small businesses especially can find that a good business coach can help them manage their time and business more efficiently, effectively propelling their business to the next level. A good coach can also help you find ways to balance your work and personal life. Do yourself a favor and schedule a consultation today and see where your business can be tomorrow