Certified Life Coach.org & Coach - Ten Ways to a Greater ROI on Professional Coaching...

Coaching is becoming one of the leading development interventions in the corporate world. In a recent study by the Corporate Leadership Council, executives ranked coaching fourth in importance. The coaching profession has grown significantly over the last decade and many executives find it a wonderful ?perk? to have a coach while other organizations find it imperative to provide their executives and key management staff with coaches. Coaching provides a customized development process for the individual as well as a confidant for the most senior level staff members. How do you, as an individual or organization seeking or using coaching, make sure you?re getting your money?s worth? Here are 10 Ways to Ensure a Greater Return On Investment from your coaching dollar.

1. Develop a standard criteria and process for selecting coaches: Many coaches are selected for engagements based on word of mouth. Develop a standard process for interviewing and selecting coaches based upon specific criteria or competencies as you would any other position.

2. Develop Service Level Expectations: Spell out the exact expectations you have of the coach such as number of meetings, length of meeting, reporting back to individuals within the organization such as the clients direct manager or HR professional, any written development plans, etc.

3. Involve the Coaching Client in the Process: The coaching engagement is a relationship between the coaching client and the coach. Making a good match is key to successful engagement. Make sure the coaching client is involved in selecting his or her own coach.

4. Link Business & Development Goals to the Coaching Engagement: Often times coaches are brought in to assist in the development of the key staff member, yet the development that is requested is not connected to the business strategy or goals. Ask, ?How will the coaching, or the skill development or project support assist the company in attaining their goals??

5. Involve the Coaching Client?s Direct Manager: The coaching client?s direct manager should be integrally involved in the coaching process with regular meetings with the coach or, even better, three way meetings between the coach, "coachee" and their direct manager to discuss progress.

6. Provide Additional Support: The coach is often not a member of the client?s organization; supplying the coaching client with a mentor or similar support can help the coaching client more effectively implement the development that is taking place with the coach.

7. Assign a person in the Organization to Manage the Coaching Process: Frequently, centralizing the requests for and selection of coaches can streamline the process. It can also ensure that coaching is being used where it?s the most effective intervention and that the coaches selected are appropriate for the assignment.

8. Develop Measurable Goals: If the coaching objectives are not identified prior to the engagement, ensure that the coach and coaching client develop measurable goals. How will you know if the engagement is successful? Some of the outcomes of coaching may difficult to measure but going through the exercise will greatly increase the effectiveness and efficiency of the coaching engagement.

9. Develop Coaching Plans: Ensure that the coach and the coaching client develop a detailed plan to achieve the goals that are developed. The coach often works ?in the moment? but a plan of action or outline, to help the client get from point A to point B will lead to greater success.

10. Measure the Impact of the Coaching: It?s often hard to actually measure quantitatively the impact of coaching. There are often many variables going on in the business at the same time. Where it is feasible make an effort to measure the return on the coaching. Some measurements might include employee satisfaction, turnover rates, process times, increased sales, etc. as well as measuring qualitative data such as how the individual felt about the coaching, did they achieve the objectives, what value does the coaching client put on the coaching experience, to name a few.

Some of the greatest business leaders in the economy are advocates for professional/executive coaching. In some studies coaching has documented to provide anywhere from 500 ? 1000% return on the investment. With those kinds of results coaching will continue to be a highly requested development tool. Putting in place the actions and processes to get a consistent value for your coaching dollar will continue to be a key to it?s success!

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Economic Growth Continues - More Than 5.3 Million Jobs Created Since August 2003
On June 2, 2006, The Government Released New Jobs Figures – 75,000 Jobs Created In May. The economy has created about 1.9 million jobs over the past 12 months – and more than 5.3 million since August 2003. The unemployment rate fell to 4.6 percent – lower than the average of the 1960s, 1970s, 1980s, and 1990s.

Revised Report Shows Fastest Real GDP Growth In Two-And-A-Half Years. Real GDP grew at an annual rate of 5.3 percent for the first quarter of this year. This follows our economic growth of 3.5 percent in 2005 – the fastest rate of any major industrialized nation.

Productivity Increased At A Strong Annual Rate Of 3.7 Percent In The First Quarter.

Real Hourly Compensation Rose At A 3.2 Percent Annual Rate In The First Quarter.

Personal Income Increased At An Annual Rate Of 6.7 Percent In April. Since January 2001, real after-tax income has risen by 12.9 percent, or 7.3 percent per person.

Real Consumer Spending Increased At An Annual Rate Of 5.2 Percent In The First Quarter.

Employment Increased In 47 States Over The Past 12 Months Ending In April. Nonfarm payroll employment increased in 41 states in April.

Industrial Production Increased 4.7 Percent Over The Past 12 Months. Over the past 12 months, manufacturing production has increased by 5.5 percent.

This Week, President Bush Nominated Henry Paulson As Treasury Secretary. Paulson has an intimate knowledge of financial markets and an ability to explain economic issues in clear terms. For the past eight years, Paulson has served as Chairman and Chief Executive Officer of the Goldman Sachs Group, one of the most respected firms on Wall Street.

The President Has Expanded Tax Relief And Is Working To Make His Tax Relief Permanent. Two weeks ago, President Bush signed into law a bill that extends the tax cuts on dividends and capital gains. This legislation also contains an Alternative Minimum Tax (AMT) patch enabling millions of middle-income families to avoid paying higher taxes in 2006.

The President’s Tax Relief Has Helped Spur Growth By Keeping $880 Billion In The Pockets Of American Taxpayers. The Administration reduced taxes for every American who pays income taxes, doubled the child tax credit, reduced the marriage penalty, created investment incentives for small businesses, and put the death tax on the road to extinction.

Growing The Economy And Reducing The Deficit Depend On Controlling The Spending Appetite Of The Federal Government. Every year since the President took office, the Administration has slowed the growth of discretionary spending that is not related to the military or homeland security. The President's last two budgets cut discretionary spending that was unrelated to the military or homeland security, and we are on track to cut the deficit in half by 2009.

If The Emergency Supplemental Bill – Which The President Has Requested To Help Fund The War On Terror And Hurricane Recovery – Includes Non-Emergency Or Wasteful Spending Or Exceeds The President's Set Limit Of $92.2 Billion Plus Funding To Prepare Our Nation For A Pandemic Flu Emergency, He Will Veto It.

In The Long Run, The Biggest Challenge To Our Nation's Budgetary Health Is Entitlement Spending On Programs Such As Social Security And Medicare. We call on members of both parties to join us in a bipartisan commission to address this critical issue.

The President Will Continue Working With Congress To Restrain Spending In Other Ways, Including Passing A Line-Item Veto. A line-item veto would allow us to cut needless spending, reduce the budget deficit, and ensure that every taxpayer dollar is spent wisely – or not at all.