I know many of you will already know about what I’m writing here, but today I want to talk about how coaching can be a transformational development method, not just for executives, but for everyone in the workplace.
You might think that coaching is only appropriate or ‘reserved for’ top leaders or the high potentials – but this simply is not true. Coaching can benefit anyone who wants to grow, learn, and achieve their goals. I’m seeing many of our clients beginning to recognise the power of coaching and the importance of investing in more coaching for a variety of people across their organisations. Why? My reflection is that over the last few years the penny has dropped that you don’t have to be an executive to benefit from coaching.
Through the work we do we’ve seen first-hand the vast impact that coaching can have for almost anyone in any organisation – especially when done well as a true, personalised, individual, and inclusive development opportunity. I’m writing this because I still talk to so many people who still think it’s only for senior people, in senior jobs, with senior titles….and I want to change that!
So what is coaching?
For those that don’t already know, coaching is a process where a coach helps a client to identify their strengths, challenges, and opportunities, and supports them to take action towards their desired outcomes. Coaching is not mentoring, consulting, or therapy; is not about giving advice, solving problems, or fixing issues ‘for’ people. Coaching is about empowering the client to find their own solutions, make their own decisions, and helping them develop sustainable skills that last a lifetime.
Why is coaching so powerful?
Coaching delivers a variety of long-term benefits that impact your organisation from top to bottom, supporting and developing the individual, those around them/ their teams, your culture, your wellbeing strategy, and ultimately your bottom line.
Let’s delve into some specific benefits:
- Gain clarity on your vision, values, and purpose.
- Increase your self-awareness and emotional intelligence.
- Enhance your communication and relationship skills.
- Develop your leadership and management capabilities.
- Boost your confidence and resilience.
- Overcome limiting beliefs and fears.
- Create positive habits and behaviours.
- Achieve your personal and professional goals.
- Build a safe and creative environment to navigate your issues and develop your resilience.
How can coaching benefit your organisation?
Coaching can increase productivity, performance, customer satisfaction, revenue, sales, retention, and engagement. According to various studies and research:
- Coaching has a high return on investment (ROI). According to various studies, the ROI of coaching ranges from 221% to 788%. The median ROI is 7x the initial investment. (Luisa Zhou, Forbes)
- Coaching can reduce turnover and increase retention. One study found that coaching led to an average 10% reduction in turnover for three years. This can save a lot of money on recruitment and onboarding costs! (Forbes)
- Coaching can boost revenue and sales. Coaching can help salespeople improve their skills, confidence, and motivation. One study found that coaching increased sales performance by 19%. Another study found that coaching increased sales revenue by 88%. (Edge International, Kevin McDonnell)
- Coaching can enhance employee engagement and satisfaction. Coaching can help employees feel more valued, supported, and motivated. One study found that coaching increased employee engagement by 39%. Another study found that coaching increased employee satisfaction by 36%. (Edge International, Kevin McDonnell)
So, coaching can have a huge impact on your bottom line as well as peoples’ personal and professional growth. In a world where personalised and inclusive learning is top of the agenda, we have to find ways of allowing EVERYONE to access this undeniably transformational development method.
If you’d like to learn more about how coaching can have a game-changing impact for anyone in your organisation and your bottom line, or anything else relating to People Development, visit our website or give us a call on 01491 414010.