International Coaching Federation (ICF) recently published some statistics on Coaching ROI and benefits which outlines the impact of coaching on individual and organizational performance. This is a great read to anyone who is interested on the benefits on coaching in their organization and / or have implemented coaching programs and are figuring the best ways to measure the impact and success of these programs.
According to ICF, organizations that adopt coaching and provide staff training can experience higher employee engagement and retention, better growth opportunities, and improved financial performance. There is a strong correlation between coaching and increased employee engagement. ROI of coaching isn’t determined exclusively by financial measures. Performance metrics can be even more important and telling. While fully implementing a coaching culture in an organization may take considerable time, the ROI of coaching for individuals can be almost immediate.
Furthermore, the ROI of coach training should be measured both qualitatively and quantitatively. It's important to review data on retention and revenue after coaching to conduct this analysis, and then use employee and leader surveys to gauge engagement and behavioral changes that might have occurred.
ICF 2023 Defining New Coaching Cultures report also summarizes the recent coaching trends in organizations and there are some interesting insights on how coaching is leveraged in the post-pandemic worlds as a tool and process for build high performance organizations.
Coaching cultures stand strong amidst pandemic-induced obstacles. Despite a worldwide pandemic, coaching’s focus has sharpened on leadership, upskilling, and well-being. This strategic emphasis has fortified coaching cultures, ensuring their resilience while promoting organizational strength and adaptability.
Organizations continue to prioritize the use of all three coaching modalities. Companies are committed to fostering a coaching culture, with 85% of survey respondents working with managers and leaders who use coaching skills, 64% employing external coach practitioners, and half involving internal coach practitioners. The trend signals a robust future for integrated coaching practices, with the majority intending to further increase or maintain these modalities over the next five years.
Line-item budgets are rising incrementally. An increasing number of organizations (33%) have a dedicated budget for coaching, up from 25% in the 2019 study.
The strong coaching culture composite continues to provide a roadmap for enhancing coaching programs. The six elements of a strong coaching culture boost engagement among leaders and employees while focusing on value and coaching for all employees. It will be a vital guidepost for building a strong, cohesive coaching culture and attracting top talent moving forward.
Expanding coaching opportunities for all employees is still an ongoing challenge. As coaching cultures advance, the data reveals an opportunity for growth: Only 27% of organizations make coaching from a professional coach practitioner accessible to all employees. More often, coaching is afforded to senior-level staff, leaving entry-level employees with fewer opportunities.
Cost-efficient solutions are helping organizations overcome coaching barriers. Companies are leveraging team coaching, digital coaching platforms, and artificial intelligence (AI) to overcome access and budget restrictions. The rise of these technologies is fueling a more accessible, inclusive, and effective coaching landscap
You can find out more in ICF blog here and you can download the Defining New Coaching Cultures report here.
At Uuni we believe in the transformative power of coaching and leadership development to bring out the best in people and drive sustainable results. Contact us if you want to learn more on how we can help you and / or your organization transform and achieve next-level performance.
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