While it is widely accepted that coaching programs are effective in developing talent, coaching is also an effective solution for retaining talent. And, as organizations continue to evaluate the effectiveness of their people-related strategies and programs, more coaches find they must demonstrate the real impact coaching makes to an organization. The challenge for most coaches is how to credibly measure coaching’s impact in retaining talent.
Using an ROI approach to capture business impact can help you determine if your coaching solution retains talent and produces a pay-off and return-on-investment for your organization. In one recent case study a global company with relatively high turnover implemented a pilot coaching program with a select group of employees who were identified as “high risk” for leaving. The company performed a full return-on-investment analysis upon completion of the program to determine whether it should be implemented on a wider scale. The results of that study showed that none of the participants left the company during the year that the program was conducted and the study was completed, and the program resulted in a 251% ROI. For every $1 the company invested in the program, $2.51 was returned after the costs of the program were captured.
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