Life Coaching Stats
To those who insist that coaching results can’t be proven, the following information from CBS News might be of interest.
“Successful organizations see coaching as something much more than a perk. Done right, professional coaching can drive sales, employee engagement, creativity, workplace satisfaction, and bottom line results. Wellness programs have been shown to provide approximately a 300% return on investment (ROI). In other words, companies who spend $1 in a wellness program (i.e. exercise clubs, personal trainers, smoking cessation workshops) earn $3 as a result of decreased turnover, fewer sick days, reduced health insurance costs, etc. It’s no wonder wellness programs have experienced such tremendous growth — it makes financial sense.”
According to the Harvard Business Review, “Forty years ago, no one talked about executive coaching. Twenty years ago, coaching was mainly directed at talented but abrasive executives who were likely to be fired if something didn’t change. Today, coaching is a popular and potent solution for ensuring top performance from an organization’s most critical talent. Almost half the coaches surveyed in this study reported that they are hired primarily to work with executives on the positive side of coaching—developing high-potential talent and facilitating a transition in or up. Another 26% said that they are most often called in to act as a sounding board on organizational dynamics or strategic matters. Relatively few coaches said that organizations most often hire them to address a derailing behavior.”
In addition, according to CBS News, “Coaching is good for anyone who is motivated to create a better life.”
Gone is the stigma of days gone by linking coaching to therapy. Now coaching is actually seen as a perk and in some circles—including the corporate world—coaching is looked upon as a status symbol.
The same CBS News article goes on to state, “Companies across the board are similarly opting for coaching to help their high-potential executives perform in larger, rapidly-changing roles in a globalized world.”
The article continues, “More and more companies are recognizing the powerful benefits of providing coaching to rank and file employees. For example, online shoe and clothing company Zappos.com, known for their outstanding commitment to creating a culture of unparalleled customer service, has a full-time goals coach who works with any employee—not just management—on helping them create better lives.”
The CBS News article sums it up by adding, “Good coaching focuses on an individual’s strengths and aims to help the client achieve what they want more of in life and at work. The goal? To help the client identify and achieve their greater goals and to help them live a better life. A good coach isn’t there to “fix” anyone, but to help the client navigate toward a more engaged and compelling future.”
Another thing to keep in mind is the investment you will make once you’ve identified the right coach. According to the Harvard Business Review, coaches can run anywhere from about $200 per hour to $3,500 per hour, although the median hourly cost of coaching is $500. The Harvard Business Review states, “Most often you can expect to pay about $500 an hour—the cost of a top psychiatrist in Manhattan.”
