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A Business Tool That Can Lead to Financial Benefits

Written by: Jim Symcox

Article Overview: There's an overlooked tool that is in any businesses toolbox for growth. This review explains what other leaders think.

A Business Tool That Can Lead to Financial Benefits

Executive coaching can be the key that unlocks the door to a company's greater profits. Maybe as an executive coach I'm a little biased! Or maybe it's a result of a little knowledge...

An interesting study was conducted by Metrix Global, a survey company, on behalf of a US Fortune 500 company and the executive coaching company they use to develop their leaders.

The study investigated the benefits and Return on Investment (ROI) of coaching. At the same time they wanted to get the answers to these questions:

1. How did coaching add value to the business and what was the return on investment? 2. How could coaching be best leveraged in the future, especially if coaching was to be expanded to other business regions?

They discovered that 60% of the 30 leaders who responded to the survey company identified specific financial benefits resulting from the coaching.
If you look at the next 6 points I show how each of the Business Measures are identified as positive by a percentage of the survey respondents:

1. Productivity ---- 60%
2. Employee Satisfaction ---- 53%
3. Annualised Financial Benefit --- 50%
4. Customer Satisfaction --- 53%
5. Work Output --- 30%
6. Work Quality --- 40%

The study tabulated program costs for all 43 leadership development participants to discover a 529% return on investment produced by the coaching process.

Clients with customer or people responsibilities produced proportionally greater financial benefits. However, there were widespread benefits throughout the group participating in the study.

There's no doubt that these benefits can be realised by any size company, as long as the owners are willing to take action on decisions made.

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Article Tags: business measures, customer satisfaction, decisions, employee satisfaction, executive coach, executive coaching, financial benefit, fortune 500 company, leadership development, little knowledge, no doubt, participants, productivity, profits, return on investment, survey company, survey respondents, work quality



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: My Favorite Book For Entrepreneurs In 2010 - Lead The Field. By Earl Nightingale. I have read the book more than 7 times, since I bought it in 2008
Re: Books for the Entrepreneur - Lead the field by Earl Nightingale is a winner everyday. Though it is original audio messages, but I read the book every month. Every Entrepreneur should have it.
Future Financial Corporation - I've never heard of Future Financial Corporation is this a new company?
Wow! - Wow, this comes in as a close second to one of the best resources listed on EC.com. The first for me was the free Camtasia Tool.


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