Updates - Blaker Business Coaching

Originally published in The Manchester Review, 2001, Volume 6, Number 1

The Positive Impacts of Executive Coaching study demonstrated in a graph form:

The tangible business impacts included increased productivity, quality, organizational strength, customer service and profitability. Due to the knowledge gained through the executive coaching, employee retention was also improved.

The intangible business impacts included improved work place relationships, client relationships, teamwork and job satisfaction. Due to the knowledge gained through the executive coaching, workplace conflict was reduced.

The study participants meet regularly with a coach who was a former business professional of twenty years or more, had graduated from an assessment based program and who had completed a formal coaching coarse. On a regular basis, executives were evaluated in a 360 peer and supervisory review.

As indicated at the base of the graph, the study was of 100 US business executives for a six to twelve month period. The study contained executives of the vice-president or higher level within their companies. Executives were Caucasian, African American, Hispanic, Asian, male and female.

The study participants, their peers and supervisors reported their experiences to an independent information gathering professional. All the research was designed and collected by Joy McGovern, Michael Lidemann, PhD., Monica Vergara, M.A., Stacey Murphy, Linka Barker, M.A. and Rodney Warrenfeltz, Ph.D.

TOP 5 PERSONAL/PROFESSIONAL COACHING MYTHS

Harvard Business Review reports that coaching is a $1 billion a year industry, but just what is a personal coach, professional coach or life coach, and why are so many executives and individuals using them to catapult their careers, to break free from 9-to-5 jobs and to create better, more fulfilling, richer lives?

As with any growing profession, there can be a lot of confusion. To help distinguish fact from fiction, here are the top 5 personal coaching myths:

Myth #1: Personal coaches are professionals who can help you achieve your goals.

Fact: Some, but certainly not all, coaches are professionals who can help you reach your goals. One of the problems in the coaching industry is that anyone can call themselves a professional coach, life coach, personal coach, etc. Jennifer Corbin, the president of Coach U, one of the largest and oldest coach training organizations in the world, said, “Technically, anyone can hang up a shingle as coaching is not regulated. Many people ‘coaching’ have no idea what coaching is as they haven’t been trained or haven’t been coached by a professionally trained and credentialed coach. There are ‘schools’ that will offer a credential after three hours of training, and people read a book or watch a TV program and decide, ‘I’m a coach!'” As a result, the quality of coaches varies dramatically. I strongly suggest working with a coach that has been accredited by the International Coach Federation (ICF). The ICF provides independent certification that is the benchmark for the professional coaching industry.

Myth #2: Coaching is a nice employment perk.

Fact: Coaching is as much a perk to your employees as their computers are. Employees may view coaching as a value-added benefit, but 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 percent return on investment (ROI). In other words, companies who spend $1 in a wellness program (e.g., 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!

The ROI from professional coaching is even more astonishing. According to a Manchester Consulting Group study of Fortune 100 executives, the Economic Times reports “coaching resulted in a ROI of almost six times the program cost as well as a 77 percent improvement in relationships, 67 percent improvement in teamwork, 61 percent improvement in job satisfaction and 48 percent improvement in quality.” Additionally, a study of Fortune 500 telecommunications companies by MatrixGlobal found executive coaching resulted in a 529 percent ROI.

Myth #3: Personal coaches can only help you reach personal goals; professional coaches can only help you reach business goals.

Fact: A good coach is someone who is an expert at helping others create positive change in their lives. For some clients, the positive change they most want may be focused on personal goals such as relationships, time management, work-life balance, stress reduction, simplification or health, but other clients may be more interested in professional or business goals such as leadership, getting a promotion, starting a business, etc. An effective coach works with the client to help them live a better, richer life — regardless of their specific types of goals.

Myth #4: Coaching is for “problem” employees.

Fact: Coaching used to be a euphemism for, “you’re doing lousy work, but, before we can fire you, we need to show that we’ve done everything we can to support you so we don’t get hit with an employment lawsuit.” No mas. According to Paul Michelman, editor of Harvard Business School’s Management Update, “Whereas coaching was once viewed by many as a tool to help correct underperformance, today it is becoming much more widely used in supporting top producers. In fact, in a 2004 survey by Right Management Consultants, 86 percent of companies said they used coaching to sharpen the skills of individuals who have been identified as future organizational leaders.”

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.

Myth #5: Personal coaching takes too much time.

Fact: Professional coaching is a high-leverage activity. Clients can achieve remarkable progress toward their desired future in less than an hour per month of coaching. There is a wide spectrum of how coaching is delivered. Some coaches prefer to meet one-on-one with clients in an office, but most recommend telephone sessions for the ease of use, minimization of distractions, better privacy, greater efficiency, and for (yes, apparently) better connection to the client. Best practices in coaching call for between two and four sessions per month that last at least 20 minutes and up to 60 minutes. A sweet spot for many coaches and clients seems to be three sessions per month for 20 to 45 minutes a session — a miniscule investment of time for the results achieved.

Robert Pagliarini is a CBS MoneyWatch columnist