Ezekiel Learning SOULutions – ROI from Leadership Development & Coaching
Right Management Consultants (RMC) recently revisited a detailed study on the benefits of professional development, such as ELS’s Authentic Leadership, Conscious Communication, Leadership Mindset and Coaching that parallel ELS’s client experience and fee. RMC published the following study highlights including tangible and intangible return on investment (ROI) results. This study examined results realized by 100 leaders/managers, mostly from Fortune 1000 companies who participated in leadership development and coaching programs. Coaching engagements typically lasted from six months to one year. Leaders and managers participated in change-oriented coaching (aimed at changing and enhancing behaviors or skills).
What To Expect
Seven out of 10 participants put ROI at $100,000+
Improvements internally and externally
Coaching pays ofF
3 out of 4 achieved goals
High recommendation rate
- Reduced Turnover 12% 12%
- Top Line Revenue Growth 14% 14%
- Better Bottom Line Profitability 12% 12%
- Cost Reduction 23% 23%
- Improved Executive Retention 32% 32%
- Reduced Customer Complaints 34% 34%
- Better Customer Service 39% 39%
- Greater Organizational Strength 48% 48%
- Better Quality 48% 48%
- Improved Productivity 53% 53%
- Better Relationship With Clients 37% 37%
- Improved Organizational Commitment 44% 44%
- Reduced Conflict 52% 52%
- Greater Job Satisfaction 61% 61%
- Better Relationship With Peers 63% 63%
- Improved Teamwork 67% 67%
- Better Relationship With Supervisors 71% 71%
- Better Relationship With Reports 77% 77%
The ROI of Advanced Communication Training – Ezekiel Learning SOULutions
Sales ( Rod Ezekiel has driven over 50 million dollars in new sales with his communication skills)
Sales is the lifeblood in every business. It has become an increasingly challenging and demanding function, having a direct impact on a business’ profitability. Sales is also no longer confined to only a sales team. Everyone within a business must be on the lookout for new opportunities to do business. How one communicates with and relates to other people, especially potential customers, is of vital importance.
Sales improvements are immediately measurable in a number of ways. Establishing how much of a difference communication training and coaching makes over and above other factors allows management to calculate the return on investment. Communication assessments, measuring interpersonal skills, clarity of speech, assertiveness and other factors make this distinction easier to identify. The human interaction and communication components of sales require measurement, since sales has become far more relationship oriented.
Customer Service – Being Client centric and focused is paramount to success
Customer service allows for the opportunity to on-sell, up-sell and is essential in retaining existing customers. A business and all its client-facing employees must foster a good relationship with customers. Customer service does not only entail treating a customer respectfully and providing good products or services at competitive prices. Taking the time to establish a relationship with customers and communicating effectively and empathetically, however enhances the perception of service excellence. Looking after one’s customers and communicating more effectively creates new opportunities for business to be done at a lower cost of sale where the business relationship has already been established.
Staff Satisfaction – Recognition is one of the most powerful tools in Communication
Every business, whether service or product-based will at times forget about its most valuable asset – its staff. A happy staff is a productive staff. A happy staff results from being satisfied in the workplace and this is usually due to three main reasons:
- Staff enjoy what they do, so they do it willingly
- Staff are remunerated fairly
- There is clear and transparent communication between the various hierarchical levels within a business.
Effective communication, in fact, forms the basis of any happy staff, whether that communication comes in the form of: understanding one’s specific job role, being involved in a meaningful 2-way dialogue (in the case of suggestions, appraisals and similar internal discussions) or just developing team unity and constructive criticism. Without proper internal communication there cannot be true staff satisfaction and staff turnover rates increase, having a profound impact on a business’ recruitment costs – and ultimately its bottom line.
Productivity – We all need more productivity
Productivity has a direct impact on the sustainability and profitability of any business. Firm but fair communication is an essential factor in motivating and encouraging employees, as well as dealing with issues of conflict, complaints and job effectiveness. An unmotivated and under-appreciated (verbally) staff tends to be be more involved in negative self-talk. This has a dire effect on morale and productivity. Reduced levels of productivity may result in an increased number of dissatisfied customers, meaning that both the sales and customer service departments have to work even harder to retain those customers. This has a direct impact, once again, on the cost of sale and keeping clients. Effective verbal and non-verbal communication from suitably skilled supervisors and managers goes a long way to minimizing this downward spiral in a business. These skills are equally necessary for lower level employees, so that they are equipped to express themselves without having to go to such extremes as strikes or mass action.
Revenue – ELS guarantees better communication will drive higher revenue
All four of these key areas are impacted by the way that businesses, supervisors, managers and leaders interact and communicate with their employees. All four have a direct or indirect effect on a company’s bottom line, and all four are dependent on various communication skills, both verbal and non-verbal, being suitably managed at both individual and group levels. What business can, therefore, afford not to train or coach their employees at all levels?
Whether it is sales, customer service, productivity or staff satisfaction, effective communication is imperative. The “soft skill” of communicating positively has been overlooked by many businesses and training or coaching in this skill has often been disregarded as showing a return on investment. Nothing could be further from the truth.
Ezekiel Learning SOULutions also integrates mindfulness into our programs.
Mindfulness has actually become an unlikely but very real competitive advantage in the corporate world. The research is impressive.
- An increase in productivity and creativity
- An increase in the ability to self-regulate, to direct attention, and to switch strategies
- A decrease in knee-jerk behavior that is often linked to poor decision-making and damaging relationships
- An increase in the density of gray matter in the brain area essential for focus, memory and compassion
- A decrease in blood pressure, cortisol (the stress-related hormone) and depression
- An increase in immune response, emotional stability, sleep quality, resilience, and some off-set of age-related cognitive decline
Think about that: improved capacity to focus, to quickly shift strategies, and to make better decisions. Is any of that relevant to leadership? Without a doubt.