Hays Senior Finance reports that while multi-millions of pounds are spent on coaching across the UK, 15% of organisations admit they have absolutely no measurements in place to assess the impact of their programmes.

A new survey from Hays Senior Finance, working with expert coach/ mentors LeaderShape, shows that coaching is often undertaken without evaluating the return on investment. The survey also shows that 68% of businesses fail to use coaching directly to address corporate objectives and outcomes are often simply referenced at a personal level.

According to the data, the majority of coach-mentoring programmes are for individuals, with 72% deployed to develop individual talents or address personal worries.

Chris McCarthy, director at Hays Senior Finance, said: “In far too many cases companies are leaving it to individuals to set the framework for their own coaching or mentoring – with little or no reference to business needs. They then fail to check the standards of their programmes and show little concern for the outcomes. Support can be extremely effective when a professional starts a new role, but it is essential it is carried out in the right manner by people who understand the specific needs of these individuals.”

The survey showed that if a senior finance professional leaves within three months of starting a new role not only is there a financial cost, but it dampens staff morale. The vast majority of respondents (96%) agreed that these appointments would benefit from confidential support during this period.

One major concern revealed by the Hays Senior Finance/LeaderShape survey is the lack of ongoing professional development for providers. Internal coach-mentors are the preferred choice by those who use coaching, with 73% of companies using in-house support. However, 16% of coaches and 28% of mentors do not receive any training or support themselves, while companies describe 29% of team or group facilitators as untrained.

Chris Gulliver from LeaderShape commented: “This is a very expensive missed opportunity for UK Plc in fast-moving times. Increasing amounts of money are being spent on coaching as a universal panacea but many companies have no comprehensive overview or sense of purpose.

Via EPR Network
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