What are Some Business Results You Can Expect After Executive Coaching

During the last couple of decades, companies have changed the way they used to function. These radical changes were due to result of technological advancement and changing nature of the job fueled by the rising demands from the customers.

These new dynamics also required special skill sets from managers to handle every challenge smoothly and achieve the desired objective in a timely manner. This is where the need for executive coaching was felt. Over the past couple of years, executive coaches have gone from rare to common.

In addition to this, most people in corporations assume that being given an opportunity to work with a coach is a positive thing. When organizations are investing their time and money in executive coaching, they are ultimately investing in business results.

It is normal for businesses to expect their top managers to perform at their full potential and to experience the personal benefits that come from coaching, they wouldn’t consider if coaching didn’t improve the business itself in measurable ways.

Here in this article, we will consider some business results you can expect after executive coaching.

Good productivity

There are many studies that have found that three-quarters of companies that have invested in executive coaching reported significant improvements in overall productivity and employee satisfaction. These benefits are not only limited to this as it ultimately leads to customer satisfaction which affects the bottom line.

Moreover, when you are investing in executive coaching it also boosts the morale of the employees of your company as those in the higher echelons of management are able to understand the needs of the subordinate staff effectively and deal with any situations in a proper manner.

Higher employee retention

The goal of the executive coaching program is to give a flip to employee engagement, increase the organization’s ability to deal with gaps in the talent acquisition process and reduce the headaches and costs associated with turnover. There is saying great leaders attract, hire and inspire great people.

A manager without strong leadership qualities will find it challenging to attract and retain high-performing employees. In addition to this, it is significantly less expensive to develop, coach and promote people internally over the long run than to hire someone externally, which makes an executive coaching program a worthwhile investment.

Good sales results

The growth of your company depends directly on the sales. There are numerous instances where the negative sales of a company have adversely affected the revenue generation of the organization.

A research performed by the Performance Sales Executive Council has revealed that sales executives who have undergone an executive coaching reported a significant increase in their performance. On average, executive coaching of core sales professionals was associated with an 8% increase in performance.

This is approximately equivalent to one additional sale per month and it is reasonable to assume that a sales executive who sets a good example with his performance is going to inspire the other team members to give their best

Overall good financial performance

A survey conducted on various organizations found that on a scale of 1 to 10, those companies who opted for executive coaching had an impact score of 7.8 on the company’s financial health. Furthermore, 87 percent of respondents in this survey opined that executive coaching has a high return on investment.

This is highly beneficial for companies when you consider reduced costs due to lower turnover, coupled with increased sales effectiveness and higher employee engagement that are common outcomes of executive coaching.

Benefits of executive coaching

There are many benefits associated with executive coaching and various studies have concluded that the results of this coaching are not just enjoyed by the executives who receive coaching. The positive aspect of this coaching unlocks the potential of the executives which also affects their superiors, direct reports, and colleagues.

This means that a leader who has been exposed to executive coaching comes to influence others by performing at a higher level and by setting a great example. Other employees in your company pick up on heightened performance and are inspired to improve their own performance.

Finally

The above-discussed points are some of the positive results that you can expect from a person who has undergone executive coaching. Most of the time organizations face problems in selecting the best resource for their executive coaching program. You must get in touch with professionals who have got years of experience in this field to help you out.

Fasold Global Consulting & Associates is an all-inclusive Orlando, FL based Executive coaching and Leadership firm. With our goal to increase effectiveness, leadership and performance, we serve in over 25 countries around the world.