What are the benefits of coaching and do they outweigh the costs?

Video transcript:

A key issue with coaching is how do you put
some kind of value on the benefits of
coaching so you can compare with
the costs of actually having the coaching?
Because the benefits are many but it may
be very difficult to put a value on them.
Certainly from an individual perspective,
how do you put a value on things like
better work-life balance,
better relationships with team members,
helping save a particular project perhaps,
or any other kind of performance
related benefit description?
It really is hard to actually put a value on it.
But typically I'd say the value of coaching
is often much more than the cost of
hiring a coach to come in and work with somebody.
It only makes sense to put a value on benefits
and a value on costs and compare if you're
doing this with a large number of people
and you've got some kind of comparative study.
You can say, before we had coaching
in our particular business,
and we haven't change anything else,
but adding coaching...
Increase in sales, increase in profits,
increase in staff retention,
increase in work-life balance
and all that kind of thing,
can we actually measure and make sense of.
It's a controversial subject.
Some people claim to have a model for it
and can put some numbers on it.
I'm very dubious of that.
I think coaching is a fantastically,
personalised, customised performance
improvement tool which has amazing value.
How you put a cost on that is
really tricky sometimes.
Good luck with that if
you think you've got a method.
Agree, disagree with what I've said?
Let me know in the comments below.