How business benefits from the coaching investment
Posted on 5th February 2017 at 12:38
“92 per cent judge coaching by external practitioners to be effective”
That’s an impressive statistic from a Chartered Institute of Personnel and Development (CIPD) study asking organisations about their attitude and experience of workplace coaching, coaching aimed at bringing out the best in their people. That statistic is accompanied with a 92% response that coaching, when managed effectively, has a positive impact on the organisation’s bottom line. 33 large organisations including blue chip companies and household names took part in the study. I believe there is an important message in the figures.
Coaching has been employed by private and public sector organisations as part of outplacement programmes for many years and the wider value of workplace coaching by “managers” is increasingly accepted. However, the overall rise of structured coaching as a contractual benefit to staff or as part of talent management and leadership programmes is still in its infancy, especially in the legal arena. As the global economy continues to emerge from recession we have already seen changes in how small and large organisations have had to adapt be it through mergers, reviewing existing operations, raise efficiency and results with less manpower and so on.
SO WHAT IS COACHING EXACTLY?
Coaching in the workplace (by a trained Coach) is about bringing out the fullest potential of individuals in a positive and open yet challenging forum that generates progress. Whilst some readers will have come across various definitions of coaching, I like to define workplace coaching as an interactive partnership between the trained Coach and the individual being coached that facilitates positive progress towards identified goals that may come from the individual alone or in conjunction with discussions with managers and leaders. Such progress is highly likely to come sooner than without coaching.
Everyone is a human being with potential. This is where coaching comes in – to develop one’s fullest potential in the workplace.
Coaching enables the individual being coached to develop themselves proactively and operate more effectively in light of identified goals or outcomes sought.
HOW CAN COACHING WITH AN EXTERNAL COACH REALLY BENEFIT YOUR ORGANISATION?
There is increased evidence that professional coaching with a qualified Coach benefits organisations, their leaders, managers and staff. Having coached people at all levels, I myself have seen how those who follow through with the actions identified during coaching sessions progress quicker towards targets than without coaching. Much quicker. An extra benefit is that they take away lifelong skills that can also be employed by them, for you, in the workplace.
I am passionate about organisations and people achieving the best they can and I’m convinced of the benefits of workplace coaching. The CIPD study reinforces my belief that all organisations, small or large, can see improvements from investing in coaching for their employees, managers and leaders. In addition to points already mentioned, here are some reasons why your organisation could benefit from an investment in coaching:
BENEFITS OF COACHING TO YOUR ORGANISATION
An external Coach is independent and provides the individual being coached with the reassurance of impartiality – this will facilitate progress.
Progress comes from within the individual being coached - the individual adopts skills for themselves that benefit the organisation. Such personal learning means there has been an integral shift which promotes improved performance. It is empowering and enlightening and permits professional growth.
Openness about coaching for the professional development of staff can increase morale, motivation and enthusiasm in the workplace as they see the value employers place in them.
Coaching can identify and work towards developing key skills that may not yet have surfaced to their fullest but where potential is recognised.
Coaching, as a benefit, in addition to typical workplace benefits, shows employees the organisation is forward thinking
Coaching can promote increased retention of the right people that you want in your company, in particular your future leaders.
Coaching can very positively encourage an increased regard for senior personnel/board members who are seen to be investing in people especially when responded to with positive action and evidenced by on-going career development opportunities.
Coaching can promote targeted change within a relatively short timescale and accordingly lead to improved performance.
Coaching for managers and leaders in relation to people management, appraisals or general feedback can lead to more effective and open communication lines, the ongoing impact of which can be improved performance and productivity.
Due to the long term effectiveness of coaching, it is a cost effective engagement tool that can benefit all staff.
Coaching can generate an improvement to the bottom line – this is the key for any business.
Coaching, undertaken appropriately is about success – personal, professional and commercial.
SO WHY SHOULD YOUR FIRM INVEST IN COACHING?
You can see here that there are several reasons why your organisation should invest in coaching. Having a structured coaching programme in place for your people can assist in many ways as seen above. Significantly, it can benefit your bottom line and help you win the war for talent by making it harder for your team to leave (because they don’t want to), and more attractive for new talent to join.
I am confident that your investment in coaching will pay dividends.
To find out more, please contact us.
WHAT CAN WORKPLACE COACHING INCLUDE?
The aim must be to maximise your peoples’ potential in the workplace. As employers, you will want to ensure that you retain the best talent and develop this talent as well as attract the best. Of course, everybody has varying requirements from coaching and so any coaching programme is tailored accordingly. As a general guideline, whilst not an exhaustive list, coaching for individuals in your organisation (whether small or large) can be implemented to address any of the following:
developing a coaching culture
team management/leadership style coaching for managers, board members/senior partners
senior staff on the cusp of promotion requiring business development coaching, confidence coaching, team management coaching, client facing skills or similar
underperforming employees, managers or directors requiring some independent support to once again demonstrate key attributes – business development, team development
impactful presentation coaching, for example, training, seminars or pitches
focus and settling into a new role
conflict or behaviour issues at work/people management
managing stress and challenges at work
optimising time management
© Anita Gohil-Thorp
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