Does coaching really work? How coaching can benefit your organisation
As a manager or an executive, at some point you may have considered incorporating coaching programs into your organisation. However most managers struggle with the question as to whether coaching or mentoring programs are worth the investment. This is a valid question since unlike a lot of other investments, sometimes effects of intangible investments like coaching can be quite difficult to quantify.
Testimonials from managers who have incorporated coaching programs into their organisation’s training have been positive. Research by International Coaching Federation shows that coaching has been attributed to improved confidence in 80% of employees and credited for 70% improved work performance and employee relationships. In addition, 86% of companies report that they recoup their investment by investing in coaching. To help you understand whether coaching really works, let’s look at how coaching can benefit your organisation.
Improved employee engagement
Coaching, which often works hand in hand with mentoring, involves pairing experienced professionals with employees for the latter to learn about work performance and the culture of the organisation. Effective coaching helps in increasing employee engagement and team efficiency. Employees start to function as a team who understand each other’s strengths and weaknesses and complement each other’s abilities. Further, well-coached employees learn to take responsibility of their work since they are equipped with the right skills and have confidence to undertake tasks. This leads to increased productivity, performance and efficiency.
Coaching helps identify high performing individuals, their abilities and strengths and therefore their development opportunities for the individuals. When coaches/managers work closely with employees, they identify their skills gaps and hence identify the best ways to improve these employees. These employees can be considered for leadership development programs which inform succession planning. In addition, development opportunities for the organisation are identified since coaching helps identify which areas need more attention and resource allocation to make the entire organisation successful.
Coaching helps motivate employees
Effective coaching demonstrates organisational commitment to employee development. When employees learn that the organisation is interested in their wellbeing and helping them develop their skills and reach their potential, they develop intrinsic motivation and are driven to work for the organisation. Further, this contributes to employee loyalty and retention as well as reduced turnover which is beneficial to the organisation in many ways. Implementing a coaching program shows the employees that the organisation cares about their goals and this helps in attracting the best talent.
Build a collaborative working culture
Pairing up managers and employees shrinks the barrier between management and the workforce. This opens up communication channels that enable employees to openly air their ideas and concerns. As a result, a collaborative work culture is created where there is no tension between employees and management but instead, everyone is working towards achieving organisational goals in harmony.
So, does coaching really work? The bottom line is, organisations have much more to gain by implementing coaching programs than not trying at all. If you are really interested in improving your organisation’s performance and work culture, coaching should be high on your priority list on effective programs to incorporate.