Two in three companies do not measure the financial return on their investment in coaching, despite spending a significant chunk of their learning and development budgets on it, exclusive Personnel Today research has revealed.
Our survey of 496 Personnel Today readers, conducted in conjunction with consultancy Chiumento, found that a further 20% don’t know whether coaching gets measured. This leaves just 13% formally measuring the benefits of one-to-one, role-specific training.
Mike Amos, head of coaching at Chiumento, said: “Failing to find ways to measure coaching’s return on investment means you fail to take it seriously as an important investment in people.”
Measuring the financial benefits of coaching was widely felt to be difficult, with 44% saying it was impossible.
The average outlay on coaching among the surveyed firms is £83,250 per year, although 45% of all respondents had no idea how much their organisation spent.
There is also a clear call for regulation of the coaching industry – an overwhelming 85% of respondents believe all coaches should be accredited, and 83% said that the coaching profession needed more regulation.
“There is a clear need for an industry-wide standard,” Amos said.