Coaching Linked In 2009 Jan

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Coaching and ROI in corporate settings.

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  • Veronica Wolfe, CPCC Wolfe Associates, LLC
  • Coaching Linked In 2009 Jan

    1. 1. Conversations that Lead to Success Content presented at the 2008 HR Star Conference Veronica Wolfe, CPCC Coaching
    2. 2. Coaching Definitions Coaching FAQs Coaching ROI 1 Agenda 2 3 Coaching Definitions Coaching FAQs Coaching ROI 1 2 3 Q & A
    3. 3. Wikipedia <ul><li>“ In non-sporting environments, recent practices in performance coaching focus on non-directive questioning, provocation and helping clients to analyze and solve their own challenges, rather than offering advice or direction.” </li></ul>
    4. 4. 4,000 Corporations Agree <ul><li>“ Organizations hire coaches to work with people, whether individuals or teams, to facilitate shifts within the context of the organization’s culture to achieve extraordinary results.” </li></ul>Survey by International Coach Federation (ICF) and Linkage, Inc .
    5. 5. International Coach Federation <ul><li>“ Professional coaching is an ongoing professional relationship that helps people produce extraordinary results in their lives, careers, businesses or organizations. </li></ul><ul><li>Through the process of coaching, clients deepen their learning, improve their performance and enhance their quality of life.” </li></ul>
    6. 6. International Coach Federation www.coachfederation.org International Coach Federation Membership 15,000 in 80 Countries Moving Towards ISO Network 4,006 Credentialed Coaches Govern 164 Chapters in 49 Countries
    7. 7. 11 Coaching Competencies <ul><li>Establish trust and intimacy </li></ul><ul><li>Be a coaching presence </li></ul><ul><li>Create awareness </li></ul><ul><li>Design actions </li></ul><ul><li>Plan and set goals </li></ul><ul><li>Manage progress and accountability </li></ul><ul><li>Meet ethical guidelines and professional standards </li></ul><ul><li>Establish the coaching agreement </li></ul><ul><li>Listen actively </li></ul><ul><li>Ask powerful questions </li></ul><ul><li>Communicate directly </li></ul>Co-create the Relationship Facilitate Learning And Results Set the Foundation Communicate Effectively
    8. 8. What Professional Coaches Do <ul><li>Tap into the client’s agenda and vision </li></ul><ul><li>Help client find answers </li></ul><ul><li>Focus on client’s life </li></ul><ul><ul><li>Goal setting </li></ul></ul><ul><ul><li>Outcome creation </li></ul></ul><ul><ul><li>Personal change management </li></ul></ul>
    9. 9. How Professional Coaches Work <ul><li>Listen and observe </li></ul><ul><li>Elicit solutions and strategies </li></ul><ul><li>Believe the client is… </li></ul><ul><li>Believe the coach’s job is… </li></ul><ul><li>Provide feedback… </li></ul><ul><li>Hold client responsible </li></ul>
    10. 10. Internal Coaches <ul><ul><li>Practical and cost effective </li></ul></ul><ul><ul><li>Leverage HR </li></ul></ul><ul><ul><li>Reach all employees </li></ul></ul><ul><ul><li>Share in-house expertise </li></ul></ul><ul><ul><li>Train managers in coaching skills </li></ul></ul>Survey says…
    11. 11. External Coaches <ul><ul><li>Provide sensitive feedback to senior business leaders </li></ul></ul><ul><ul><li>Maintain confidentiality </li></ul></ul><ul><ul><li>Perceived as more objective </li></ul></ul><ul><ul><li>Internal coaches devalued </li></ul></ul><ul><ul><li>Too busy internally to coach internally </li></ul></ul>Survey says…
    12. 12. A Coach is Not… <ul><ul><li>Manager </li></ul></ul><ul><ul><li>Trainer </li></ul></ul><ul><ul><li>Mentor </li></ul></ul><ul><ul><li>Consultant </li></ul></ul><ul><ul><li>Therapist </li></ul></ul>
    13. 13. Manager or Coach Relationship: Superior / Subordinate Focus: Achieve organizational results Relationship: Partnership Focus: Support client agenda in finding answers Manager Coach
    14. 14. Trainer or Coach Expert Approach: Linear learning path Focus: Curriculum and learning objectives Equal Approach: Less linear Focus: Learn without set curriculum Trainer Coach
    15. 15. Mentor or Coach Primarily guides from own experience Has specific industry or career development Occasionally guides from own experience May have specific industry or career alignment Mentor Coach
    16. 16. Consultant or Coach Expert Approach: Diagnose problem and prescribe solution Focus: Solve problems Equal Approach: Supply supportive, discovery-based approaches and framework Focus: Cultivate solutions Consultant Coach
    17. 17. Therapist or Coach Expert Approach: Fix the client Focus: Past Equal Approach: Hold client whole Focus: Present Therapist Coach
    18. 18. Relationships Compared Employee Manager Trainer Mentor Consultant Therapist Client Employee Client Client Client Coach
    19. 19. FAQ: Benefits of Coaching <ul><ul><li>Improved individual performance </li></ul></ul><ul><ul><li>Bottom line results </li></ul></ul><ul><ul><li>Development for the next level </li></ul></ul><ul><ul><ul><li>Raise confidence </li></ul></ul></ul><ul><ul><ul><li>Self empowerment </li></ul></ul></ul><ul><ul><ul><li>Goal achievement </li></ul></ul></ul><ul><ul><ul><li>Relationship improvement </li></ul></ul></ul><ul><ul><ul><li>Retention </li></ul></ul></ul>Survey says…
    20. 20. Capital One Financial Services <ul><li>“ The good news from the study is that coaching programs can make a significant difference in overall organizational effectiveness by improving teamwork and ability to execute strategy.” </li></ul><ul><ul><li>Behavioral change, not cultural </li></ul></ul><ul><ul><li>Positive performance, not remedial issues </li></ul></ul>2004 Study cites…
    21. 21. Clear Coaching Key Findings <ul><li>63% Increase perception </li></ul><ul><li>50% Acquire new skill or improve an existing one </li></ul><ul><li>50% Improve working relationships within team </li></ul><ul><li>47% See others perspectives </li></ul><ul><li>43% Applying some clarity to work life </li></ul><ul><li>43% Increased motivation </li></ul><ul><li>43% Performance improved </li></ul><ul><li>40% Coached employee appears happier </li></ul><ul><li>40% Enjoy a better atmosphere </li></ul><ul><li>40% Growing into a new role </li></ul><ul><li>37% Changing approaches to work situations </li></ul><ul><li>20% Agreed upon goals were achieved </li></ul>2007 Study cites…
    22. 22. We would hire a coach again. “ Delighted!” “ Exceeded our expectations!” We offer coaching as part of an employee package. Opportunity to attract new employees? Our sales or revenue increased when it wasn’t the goal of the coaching. Fully understood the financial impact of coaching. Opportunity to investigate metrics and track coaching performance? Above the Line Below the Line 3% 2007 Study cites… 93% 23% 10%
    23. 23. Reasons for Hiring Coaches <ul><li>86% To develop leadership skills of high potential individuals </li></ul><ul><li>70% To correct behavioral problems at the management level </li></ul><ul><li>64% To improve the odds that newly promoted managers could be successful </li></ul><ul><li>59% To develop management and leadership skills among their technical people </li></ul><ul><li>59% To help leaders resolve interpersonal conflicts among employees </li></ul>2002 Lore Research Institute Report cites…
    24. 24. Improvement Areas – Working Relationships Percentage Improvement 63% 67% 71% 77% Peers Job Satisfaction Clients Benefit to Executives 61% 37% 63% 37% Direct Reports Immediate Supervisors Teamwork Study results… 5.7x ROI
    25. 25. Improvement Areas Percentage Improvement 32% 48% 53% Cost Reductions Bottom Line Productivity Benefits to Organization 22% 23% Productivity Organizational Strength Study results… 5.7x ROI Retention of Executives
    26. 26. Business Impact Study <ul><li>“ Almost three in ten (28%) claimed they had learned enough to boost quantifiable job performance – whether in sales, productivity or profits – by $500,000 to $1 million.” </li></ul>When asked to provide a conservative estimate of financial benefits gained from coaching, a 2002 study cites:
    27. 27. Business Impact Study <ul><li>“ A large employer in the hospitality industry saved between $30 million and $60 million by coaching its top 200 executives.” </li></ul>2002 Study cites…
    28. 28. 2002 Manchester study of 358 organizations 2002 Merrill Anderson study on ROI of executive coaching 2002 Coachtree study of successful coaching engagements Cases of Compelling ROI 1000% 600% 500% Three separate studies from 2002 provide insight into compelling ROI potential from coaching:
    29. 29. When is Coaching the Answer? <ul><li>Called by executive to support </li></ul><ul><ul><li>Individual or team </li></ul></ul><ul><ul><li>Strategic initiative </li></ul></ul><ul><li>Called by HR or OD to support </li></ul><ul><ul><li>Performance management </li></ul></ul><ul><ul><li>High potential individuals / teams </li></ul></ul><ul><ul><li>Succession management </li></ul></ul><ul><ul><li>Leadership development </li></ul></ul><ul><ul><li>Training </li></ul></ul><ul><ul><li>New employees </li></ul></ul><ul><ul><li>Employee retention </li></ul></ul>
    30. 30. QuestionThinker <ul><li>What’s wrong? </li></ul><ul><li>Who’s to blame? </li></ul><ul><li>How can I prove I’m right? </li></ul><ul><li>How can I protect my turf? </li></ul><ul><li>How can I be in control? </li></ul><ul><li>How could I lose? </li></ul><ul><li>How could I get hurt? </li></ul><ul><li>Why is that other person so clueless and frustrating? </li></ul><ul><li>Why bother? </li></ul><ul><li>What works? </li></ul><ul><li>What am I responsible for? </li></ul><ul><li>What are the facts? </li></ul><ul><li>What’s the big picture? </li></ul><ul><li>What are my choices? </li></ul><ul><li>What’s useful about this? </li></ul><ul><li>What can I learn? </li></ul><ul><li>What is the other person feeling, needing, wanting? </li></ul><ul><li>What’s possible? </li></ul>Change Your Questions Change Your Life , Merilee Adams, PhD Judger Learner
    31. 31. Questions?
    32. 32. Veronica Wolfe, CPCC www.eastbaycoaches.org East Bay Coaches ICF Chapter www.thecoaches.com Coaches Training Institute (CTI) Thank You!
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