LISA ANN EDWARDS decided to focus her career on the ROI (return on investment) of coaching after the company she worked for cancelled its coaching programmes for financial reasons. At that time, she set out to find a methodology to quantify coaching. Her demonstration not only caused the company to reintroduce coaching, but also opened doors for her to work with companies worldwide. In Spain, she applies her method in collaboration with the EEC.
What is coaching ROI? What does it bring to the business?
Coaching ROI is a way of measuring and evaluating a coaching programme. It is a tool for measuring investment in coaching using a system based on business indicators, the key to which lies in isolating the influence of coaching from other variables. I think it is a positive thing that companies are able to put a figure on their investments in coaching.
Would you say that in times of crisis, it is even more important?
I think measuring the return on investment of coaching is even more critical during periods of economic hardship, and the reason is that, more than at any other time, organisations have to be very careful about how and what they spend money on, and they need to demonstrate that the ways in which they invest in people are truly paying off for the organisation. Therefore, I cannot imagine a better time to implement coaching ROI than at a time of economic hardship.
What is the most expensive thing?
It is vital to establish the plan and the objectives to be measured before applying the methodology. As for whether it is financially costly, of course, it is a service that has a cost, but it is the only way to know and to demonstrate that the investment made in coaching pays off financially.
ROI METHODOLOGY TM
– The methodology used to calculate the return on investment of coaching is an adaptation of the prestigious methodology created by the ROI Institute.
– Lisa Ann Edwards holds a licence for the development of this coaching-applied measurement and is launching it in Spain in partnership with EEC.
– The aim is to demonstrate the effectiveness of coaching in economic terms.
