Executive Coach, Business Coach, Career Coach—terms not unheard of by the public and businesses around the world today. If your business has contemplated hiring a coach, you will be pleased to know that case studies documenting high levels of satisfaction and return on investment exist. Two examples are BC Housing and JOEY Restaurant Group— both recognized by the International Coach Federation for their successful use of coaching.
BC Housing, a developer and manager of subsidized housing across the large province of British Columbia, Canada, partners with private and nonprofit housing providers, as well as government agencies, to find affordable housing solutions for the homeless, at-risk individuals, and those who are poverty-stricken.
To attract, develop, and retain top employees, they created a customized development programme designed for everyone who manages or supervises at least one person. Through the incorporation of coaching for performance, they have witnessed a significant positive change in their organisational culture. They have developed a community of leaders that will forever be a legacy to the investments made in leadership development, and so far that investment is certainly paying off.
BC Housing has calculated that based on the initial capital investment the company made in their leadership development and coaching programmes, they have seen a 70 percent return on investment. Due to the success of the in-house coaching initiative, they have been able to scale back the amount of external training from various service providers, giving the company significant savings.
JOEY Restaurant Group, headquartered in Vancouver, British Columbia Canada, has expanded from one location to 25 restaurants across Canada and Washington State. They began their coaching initiative in 2009, focusing on leadership development, conflict management, and personal growth. They also wanted an internal programme that could be sustained and replicated.
JOEY has experienced a 30 percent growth in revenue, as well as a 682 percent return on investment on the coaching initiative. The use of coaching helped them take the extraordinary people who work there, and support them in excelling not only as chefs and managers, but as leaders and individuals as well.
As an employer of young college students, they typically have a higher than average turnover rate. The adoption of a coaching culture has changed that reality. The rate of employee turnover has dramatically dropped from around 200 percent to 66 percent–a 134 percent improvement! Amazingly they also now have virtually no turnover at the senior level. JOEY has a line-up of highly qualified and skilled staff competing for the next open position and promotion.
For more information on professional coaching and tips for selecting a coach, visit Coachfederation.org/value.