Even though coaching can be a costly investment, it is a good value compared to other leadership development options. “Coaching is an ongoing relationship,” as opposed to a two-week class where participants are supposed to emerge magically transformed. Coaching is most effective for executives who are preparing for a promotion, who is moving into a new role, or who have hit a wall in their development.
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You’ve probably asked, “What if we invest a bunch of money into training our people and they leave?” and the response that follows is, “What if we don’t, and they stay?” It can pay a company rich dividends to have an Executive Coach on their sidelines.
Your company sets prices for products and services, and there’s a lot of thought about what goes into your pricing formula(s). Why should an Executive Coach be any different? If you get the logic about working with a Coach, then you will recognize that “A Coach just costs too much” is nothing but an excuse. Considering the ROI for effective coaching is a must.
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If you believe the old adage ‘Time is money, then time costs you and your company money. Therefore, maximizing that time and using it in the right way matters. Most executives don’t need to work on their literal area of business expertise (although continuous learning is important), but what many fail to recognize is that leadership, too, is a skill. The minute you became a leader, everything shifted. At that moment, you didn’t just have to do the tasks you’ve always done; now you had to also lead people to do what they do best, every single day. If you believe that ‘time is money,’ then leadership should be taken seriously...