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Improve the Return on Investment in ExecutiveCoaching
By Dr. Earl R. Smith II
DrSmith@Dr-Smith.comwww.Dr-Smith.com
Coaching has become one of the leading leadership-development support strategies in the corporateworld. Coaches are regularly deployed to help rising-stars develop more quickly and surely. Other coachesfocus on team development and improved projectmanagement approaches. Still others - and I am oneof these - work with CEOs, Boards of Directors toimprove both strategic and tactical planning andimplementation. One of the most common issues thatI help address is an attempt to get maximum ROI outof the dollars being invested in a coaching program.Coaching can easily fall into what I call the ‘gift’ category. Manyexecutives find it a wonderful “perk” to have a coach - they consider itas recognition of their value to the company. This attitude - whileseeming logical - is one of the most corrosive when it comes to gettingvalue out of a coaching program. The real issue is not how valuable aperson is to the company - it is how valuable they can become to thecompany with coaching support. Coaching is an investment in thefuture - the future of the person and of the company. Organizationsprovide their executives and key management staff with coaches inorder to improve their value. Good coaching provides customizedsupport for the individual. However, the organization needs to makesure that such investments are generating a substantial return oninvestment. Here are a few ways that you can approach that issue:
1. Develop Metrics for Selecting and Monitoring Coaches:
Coaching is a ‘feel good’ process. Many coaches are selected based onword of mouth or the initial chemistry between the coach and client.Coaching should generate measurable results and those results mustbe measured. It is important that the organization develop a standardprocess selecting and monitoring the contributions of coaches and thatthese criteria be based upon specific criteria or competencies. Withthis in mind, it is very important to assign a senior person in theorganization to manage and monitor the coaching program. Thisperson should deal with all requests for and the selection of coaches. They can also ensure that coaching is being used where it is the mosteffective and that the coaches selected are appropriate for the
 
assignment. Finally, they will be responsible for insuring that the returnon dollars invested in coaching is as high as possible.
2. Develop and Enforce ‘Results Expectations’:
One majormistake that many organizations make is to fail to get very specificwhen agreeing to the terms, conditions and metrics that will guide acoach’s work. It is vital to spell out the exact expectations for eachcoach and coaching engagement. These metrics should be verydetailed - such as number of meetings, length of meeting andreporting. Here is an example of what I mean: I have encounteredsituations where coaches were brought in to assist in the developmentof the key staff member, yet the development was never connected tothe business strategy or goals. When I asked, “How is this coachingcontributing to the company’s attaining its goals?” I got a blank stare. The good rule is that any investment should tie into the goals andobjectives of the company - and coaching is no exception to that rule.
3. Involve People in the Process:
I have worked with companiesthat developed and deployed a coaching program without providing forany feedback m or even involvement from the individuals beingcoached - other than, of course, their being coached. This ‘one size fitsall’ approach seldom generates much of a return. A coachingengagement is a relationship between the coaching client and thecoach. Making a good match is key to successful engagement. Anothermistake that some organizations make is to narrowly focus on thecoach/client relationship. It is important to involve the context of thecoaching engagement - for instance coaching client’s direct manager -in the coaching process. This may involve regular meetings to discussprogress with the coach and/or three way meetings between thecoach, client and direct manager. It is also important to contextualizethe coaching engagement within the broader organization. I havefound it very helpful to bring coached clients together for mutualsupport sessions and to highlight their progress to the broaderorganization.
4. Link Business & Development Goals to the CoachingEngagement:
Often times coaches are brought in to assist in thedevelopment of the key staff member, yet the development that isrequested is not connected to the businesses’ strategy or goals. Ialways prompt CEOs to ask, “How will the coaching, or the skilldevelopment or project support assist the company in attaining itsgoals?” Remember that if the coaching objectives are not identifiedprior to the engagement and tied directly to the overall goals andstrategy of the company, it is unlikely that the expenditures willgenerate the desired ROI. It is only by developing and implementingsuch a goal setting and coordinating process that an organization will
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