The Advantages of Employee and Executive Coaching
Coaching used to be something that only very large companies did. It was considered a fad that would probably pass. Today that is no longer the case. Business coaching is considered a fundamental aspect of taking your business to a higher level and of helping your employees to achieve results. Most companies today see it as needful and necessary, but they don’t often make the funding or the time for it available.
Hiring Coaching Executives
In some cases, companies add coaching to the list of things they are looking for when they hire an executive. That should mean that we’re seeing more coaching taking place, we should be seeing it achieve the results we want, yet in many industries, that is not what we see.
Encouraging our workers, providing them with the best way to grow in their positions is the best way to keep workers happy. In some cases, such as retail for example, we’re seeing productivity and often customer satisfaction falling. The public sector is moving ahead of the private sector in customer satisfaction.
What Makes the Difference?
The difference in many cases comes from the supervisory or the executives with whom they are working. Being a supervisor or being an executive does not make a leader. There is a world of difference between the two and coaching can sometimes make that difference. Excutive coaching can turn supervisors into leaders.
There are supervisors in every business. In many cases they sit apart from the employees. They remain behind closed doors and fail to interact with their teams. They show their faces for monthly or yearly evaluations. The glory and the credit for the things that their team does belongs to them in every way.
Conversely, there are leaders. They lead by example and listen to and worth with their teams. They hear the ideas that are outside the lines and they act on them, working with their team to take their companies to bigger and better things.
Why aren’t we Coaching More?
In many cases today, coaching takes up a small part of our funds and a small part of our time. In fact, according to Forbes, coaching is taking up less than ten percent of the time expenditures for training for our employees and supervisory personnel.
Conversely, those who spend more time on it, particularly spending more time coaching and working with the supervisory staff and teaching them to coach their own employees, typically increase their productivity and their employee morale.
How Well does Coaching Executives Really Work?
In a study of Fortune 100 executives discovered that when they were coached, the result was an ROI of nearly six times the cost of the coaching.
International Personnel Management Association survey determined that productivity was raised by more than 88 percent when training was combined with coaching. The rise was 66 percent higher than training alone.
If you’re considering coaching sessions for your own employees, here are some tips to help you to get the most out of your coaching.
Make sure that the coaching experience and process is consistent and top quality. Coaching sessions should ideally be confidential but the overall coaching process does require some management.
Make sure that clients are prepared ahead of time for their coaching. Don’t force anyone to be coached. Allow them the option to refuse the coaching or work with them to help them to understand the need for it.
Be certain that the organization is going to provide follow up support and strong encouragement for those employees who elect the coaching sessions. Coaching should ideally be involved in other types of training as well, including leadership training, mentoring training and competency training. Doing so increases the value of both.