9. Coaching metrics evolve
In a poll at the Conference Board’s 2014 Executive Coaching Conference, attendees were asked to name the top challenges facing their coaching programs. The winner (31%): Measuring the impact of coaching.
Coaching leaders know that metrics matter. They also know that coaching defies hard ROI calculations. “Sure, you can measure and put a number on anything,” says one coaching expert, “but what does getting a 500% return on your investment in coaching actually mean?”
Organizations have long struggled to quantify the dollar benefits of this highly personal approach to development. More than 27% of respondents to an ICF/HCI survey said that they do not evaluate the effectiveness of coaching at all. Among those who do, most rely on subjective feedback from either the coachee (58%) or the coach (42%).
Soft measurements on employee satisfaction, engagement levels, and feedback surveys are seen as much better measures of coaching than ROI. But how well do these measurements help to build the business case? One OD leader speaks for many in saying, “We need to find meaningful ways to demonstrate value if we’re going to justify more money for coaching.”
Here’s a look at how organizations are measuring coaching now:
360 feedback surveys
Assessment instruments and feedback surveys from supervisors, peers, and direct reports are still the most popular means of evaluating the effectiveness of coaching. Respondents to the Sherpa Institute’s 10th annual Executive Coaching Survey in 2015 said that 360 assessments figure into 30% of engagements.Download Article 500 Club