Why Coaching Deserves a Line in Your Budget
As planning season kicks off, don’t overlook your most important investment: your people. Coaching can fuel engagement, elevate performance, and deliver a return that goes far beyond the bottom line. Before you finalize next year’s budget, here’s why development should stay on the table.
Budgets
It’s that time of year again. The weather is cooling off, and a refreshing crisp is in the air. It’s one of my favorite seasonal shifts. Professionally, it’s also an exciting time: budget and planning season.
That’s right. It’s time to think about how you are going to move the needle next year. It’s also the perfect time to consider something often overlooked: development.
I’ve had the privilege of leading some incredible teams. They worked hard, showed up consistently, and went above and beyond for the organization. Supporting their growth through professional development, whether it was skill-building, inspiration, or simply space to recharge, had a major impact on both morale and performance.
I’ve also personally benefited from this kind of investment. I was fortunate to receive executive coaching during a period of major organizational change, and it had a profound effect on how I led, made decisions, and grew as a leader. It’s one of the reasons I believe in coaching so deeply today.
Now that I’m in the coaching business, I wanted to see if the return on investment for coaching could be quantified. A 2023 study by Metrix Global found that executive coaching can deliver a 788% ROI, driven by measurable gains in productivity and employee retention. That number speaks for itself.
Even more compelling, the International Coaching Federation (ICF) reports that coaching leads to:
A 70% increase in individual performance
A 50% increase in team performance
A 48% increase in organizational performance
Over the course of my career, I’ve heard the phrase "our employees are our greatest asset" more times than I can count. But budget season is where that belief gets tested. It can be tempting to cut the development line, especially in an uncertain economy.
If you’re a leader, I encourage you to resist that urge. Investing in your people through coaching isn’t just a nice-to-have. It is a smart move that pays off in engagement, retention, and performance.
And if you’re an individual contributor or manager, don’t wait. Make the ask. Advocate for coaching as part of your development plan. The right support can help you unlock what’s next for you and your organization.
If you’re ready to explore how coaching could be part of your team’s next chapter, let’s talk. Book a free clarity call and let’s build something great.