Management Coaching Is Cost Effective
Tuesday, September 15th, 2009
What would prove more expensive for your company – investing in management coaching or finding a new manager?
One of our Stepshift clients, a senior leader in a large insurance business, was interested in measuring the return on investment of the management coaching programme we ran with him and a number of his senior managers and management teams.
For him, the benefits of the management coaching programme easily outweighed the costs. One example he identified would be losing a manager he hadn’t invested in by way of management coaching – “My view is that the loss of a single manager would pay for a year of coaching for the entire team. So it’s pretty simple maths, though I think these issues are often overlooked.”
In order to ensure that management coaching produces the desired return it is essential that the management coach is familiar with the environment (culture and business) that the manager is working in. Our management coaching programmes always include an assessment and gap analysis phase to ensure the coaching has the best possible foundation for success and is clearly focused on impacting those areas that will deliver the desired results.