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This Press
Release was originally published by Manchester, Inc. on January 16,
2001.
Executive
Coaching Yields Return On Investment
Of Almost Six Times Its Cost, Says
Study
JACKSONVILLE,
Florida —Manchester Inc., the global leader in customized
executive coaching programs, has released the results of a study that
quantifies the business impact of executive coaching. The study includes data
on executive behavior change, organizational improvements achieved, and the
return on investment (ROI) from Manchester’s customized, comprehensive
executive coaching programs.
The study included
100 executives, mostly from Fortune 1000 companies, who received coaching from
Manchester. Manchester Inc. is a part of the professional services
division of MPS Group (NYSE:MPS) of Jacksonville, Florida.
Companies that provided
coaching through Manchester to their executives realized improvements in
productivity, quality, organizational strength, customer service, and
shareholder value. They received fewer customer complaints, and were more
likely to retain executives who had been coached.
In addition, a
company’s investment in providing coaching to its executives realized an
average return on investment (ROI) of almost six times the cost of the
coaching.
Manchester conducted
what is believed to be the first major study to quantify the business impact of
executive coaching.
Half of the executives
in the study held positions of vice president or higher (including division
president, general manager, chief executive officer, chief financial officer,
chief information officer, partner, principal, and practice leader). Almost six
out of 10 (57%) executives who received coaching were ages 40 to 49, and
one-third earned $200,000 or more per year.
The coaching programs
that executives participated in were a mix of both
change-oriented coaching
— which is aimed at changing certain behaviors or skills — and
growth-oriented coaching — which is aimed at sharpening performance. The
coaching programs typically lasted from six months to one year.
Among the results of
the study:
- Manchester’s
coaching programs delivered an average return on investment of 5.7 times the
initial investment in a typical executive coaching assignment — or a
return of more than $100,000 — according to executives who estimated the
monetary value of the results achieved through coaching.
- Among the
benefits to companies that provided coaching to executives were
improvements in:
Productivity
(reported by 53% of executives)
Quality
(48%)
Organizational
strength (48%)
Customer service
(39%)
Reducing customer
complaints (34%)
Retaining executives
who received coaching (32%)
Cost reductions
(23%)
Bottom-line
profitability (22%)
- Among the
benefits to executives who received coaching were improved:
Working relationships
with direct reports (reported by 77% of executives)
Working relationships
with immediate supervisors (71%)
Teamwork
(67%)
Working relationships
with peers (63%)
Job satisfaction
(61%)
Conflict reduction
(52%)
Organizational
commitment (44%)
Working relationships
with clients (37%)
Manchester’s
executive coaching programs focus on helping executives adjust to new
organizational realities and not just survive, but thrive.
Manchester’s
tailored approach is a collaborative process that includes a pre-coaching needs
assessment to set clear objectives and a complete, valid — and reliable
— assessment protocol. Considerable emphasis is placed on both action
planning and achieving measurable results linked to identified business
objectives.
Manchester’s
executive coaches typically hold Ph.D. or MBA degrees and have at least 20
years experience as organizational development practitioners or line managers.
All coaches have graduated from standardized internal coaching that focuses on
principles of assessment and intervention in executive coaching practice, and
have gone through an extensive certification process.
About Manchester
Inc. and MPS Group
Manchester Inc.
is a career management consulting firm that specializes in improving
organizational effectiveness through the identification, development, and
transition of leadership talent. Manchester has expertise in three primary
practice areas: career management, leadership development, and executive
education and training. Manchester is a part of the professional services
division of MPS Group (NYSE:MPS) of Jacksonville, Florida. MPS combines
business processes and human intellectual capital to deliver strategic
solutions in the accounting and finance, legal, technical and engineering,
scientific, career management consulting, and retained executive search areas.
For more information on Manchester Inc., please see the following website:
www.manchesterus.comFor more information on MPS Group, please see
the following website: www.mpsgroup.com
About MPS
Inc.
MPS Inc., is a
global solutions provider enabling clients to effectively locate, retain and
deploy strategic knowledge worker resources. MPS services include professional
staffing, e-business solutions, IT project support, human capital management
consulting, and knowledge worker e-procurement. The Company combines business
processes and human intellectual capital to deliver strategic solutions in the
information technology, accounting and finance, legal, technical and
engineering, and scientific areas. Headquartered in Jacksonville, Florida, the
Company serves the Fortune 1000 and other leading businesses in the United
States, Canada, the United Kingdom, and continental Europe. For more
information about MPS, please visit the following web site: www.mpsgroup.com |
