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Business impact of executive coaching: demonstrating monetary value

Business impact of executive coaching: demonstrating monetary value Purpose – The purpose of this paper is to increase understanding of the business impact of executive coaching and enhance the utilization of coaching throughout the firm. Design/methodology/approach – The ROI study consisted of a three‐step process: understand the business value expected by the firm's senior leadership; document what staff have learned from coaching; explore how staff applied what they learned from coaching to create intangible and monetary value for the business. Findings – After the effects of coaching were isolated: monetary benefits were discounted by the isolation (interviewees were asked how much of the value did they attribute directly to their coaching experience) and error percentages; two extreme values were eliminated from the analysis, each totaling over half a million dollars; all monetary benefits were reduced by an additional 50 percent to ensure a conservative set of monetary benefits; Coaching produced intangible and monetary benefits for seven out of eight business impact areas; and ROI of $3,268,325 (689 percent) Practical implications – Attaining business benefits requires taking a more proactive stance in how coaching is managed: ongoing measurement of the value of coaching should be linked to the achievement of specific business objectives and value propositions set by Booz Allen officers; periodic reviews of progress and business outcomes will suggest ways to increase business value and meet senior leader expectations. Originality/value – Provides leaders of executive development programs with an approach to assess the monetary value of executive coaching. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Industrial and Commercial Training Emerald Publishing

Business impact of executive coaching: demonstrating monetary value

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Publisher
Emerald Publishing
Copyright
Copyright © 2006 Emerald Group Publishing Limited. All rights reserved.
ISSN
0019-7858
DOI
10.1108/00197850610659373
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to increase understanding of the business impact of executive coaching and enhance the utilization of coaching throughout the firm. Design/methodology/approach – The ROI study consisted of a three‐step process: understand the business value expected by the firm's senior leadership; document what staff have learned from coaching; explore how staff applied what they learned from coaching to create intangible and monetary value for the business. Findings – After the effects of coaching were isolated: monetary benefits were discounted by the isolation (interviewees were asked how much of the value did they attribute directly to their coaching experience) and error percentages; two extreme values were eliminated from the analysis, each totaling over half a million dollars; all monetary benefits were reduced by an additional 50 percent to ensure a conservative set of monetary benefits; Coaching produced intangible and monetary benefits for seven out of eight business impact areas; and ROI of $3,268,325 (689 percent) Practical implications – Attaining business benefits requires taking a more proactive stance in how coaching is managed: ongoing measurement of the value of coaching should be linked to the achievement of specific business objectives and value propositions set by Booz Allen officers; periodic reviews of progress and business outcomes will suggest ways to increase business value and meet senior leader expectations. Originality/value – Provides leaders of executive development programs with an approach to assess the monetary value of executive coaching.

Journal

Industrial and Commercial TrainingEmerald Publishing

Published: Apr 1, 2006

Keywords: Management development; Coaching; Return on investment; Training evaluation

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