Michigan-based Triad Performance Technologies, Inc. studied and evaluated the impact of coaching to support 67 regional and district sales managers within the large telecom environment where they worked. Positive results were achieved in several key areas, which led to an estimated $2 million profitability impact from the group receiving the coaching. Changes included: 1). a shift in focus to strategic account development and increased sales volume; 2). improved performance from managers who previously had not met their objectives; 3). enhanced customer satisfaction and increased revenues; and 4). retention of top-performing staff.
"The intervention produced significant business and economic impact. The immediate return on the investment made in the coaching program will be in the 10 to 1 range. And, the long-term return is anticipated to be even higher,” says Triad’s Dennis Dressler who managed the evaluation process. The study found that the following business outcomes were directly attributable to the coaching intervention:
- Top performing staff, who were considering leaving the organization, were retained, resulting in reduced turnover, increased revenue, and improved customer satisfaction.
- A positive work environment was created, focusing on strategic account development and higher sales volume.
- Customer revenues and customer satisfaction were improved due to fully staffed and fully functioning territories.
- Revenues were increased due to managers improving their performance and exceeding their goals.
Another study conducted by MetrixGlobal for an executive coaching program was impressive. Over 70 executives were coached from a multi-national telecommunications company that included participants in the United States, Canada, Mexico, and Brazil.
MetrixGlobal performed an extensive survey of 43 coaching participants that yielded the following results:
Coaching produced a 529% return on investment and significant intangible benefits to the business. Including the financial benefits from employee retention, coaching boosted the overall ROI to 788%. The study provided powerful new insights into how to maximize the business impact from executive coaching.
For more on executive coaching, go to: www.MENTORINGandCOACHING.com
For some sales coaching tips, go to www.SalesTip.info