To understand what coaching offers, HBR conducted a survey with 140 coaches and the results were as under
How coaching can help?
In recent years, professional coaching has shown a significant return on investment for companies. As per the International Coach Federation the following are the ways Coaching helps an organization
- Coaching can assist organizations with key business goals. Within the coaching partnership, the coach will work with your employees to identify and create clarity around key business goals and establish effective management strategies to ensure goals are met.
- Coaching can bolster creativity. A coach will support your employees in confidently pursuing new ideas and alternative solutions with greater resilience and resourcefulness. A coach will encourage fresh perspectives and provide inspiration through the questions they ask during sessions and the actionable goals they co-create with your employees.
- Coaching can manage the change that accompanies growth within your organization. Professional coaching is an important modality for managing change—including growth. A coach will help your employees assess current needs, opportunities, and challenges, all while maximizing the potential they already possess.
- Coaching can boost productivity and effectiveness. This is especially important if you have employees taking on new or leadership level roles. Coaches are trained to work with clients to inspire them to their personal and professional potential, thus increasing productivity and effectiveness. Within the coach-client relationship, a focus will be placed on learning and clarity for forward action. According to the ICF Global Coaching Client Study 70 percent of clients reported a positive improvement in work performance.
- Coaching can develop communication skills. The ICF Global Coaching Client Study revealed that 72 percent of those being coached noticed an improvement in communication skills. Furthermore, individuals who have engaged in a professional coaching partnership have walked away with fresh perspectives on personal challenges and opportunities, enhanced thinking and decision-making skills, enhanced interpersonal effectiveness, and increased confidence in carrying out chosen work and life roles.
- Coaching can help your organization attract and retain talented employees. If you have trouble finding great employees (or getting them to stick around), your organization needs to commit to investing in employee development. Coaching is an ideal way to develop your employees and show your employees you value their development.
- Coaching can bring work-life balance into the lives of your employees. An employee experiencing the benefits of a balanced life is a happier employee. And a happier employee is a more productive employee. A coach can work with your employees to discover, clarify, and align with what your employees hope to achieve, including a stable work-life balance. According to the ICF Global Coaching Client Study 67 percent of coaches saw an improvement in balancing work and life.
- Coaching can help your employees thrive. Virtually all companies who hire a coach are satisfied with the outcomes. The ICF Global Coaching Client Study found that 99 percent of coaching clients were “somewhat” or “very satisfied” with their overall coaching experience. And 96 percent of them would repeat the process.
- Coaching can help your company flourish despite uncertain economic times. Coaching is a very powerful tool in the face of uncertainty—organizations of all types and sizes have experienced the value professional coaching brings including: increased business performance, improved product quality, higher employee retention and morale, greater employee commitment, leadership development, conflict reduction, team building skills and more.
- Coaching can restore self-confidence to organizations hit hard by the recession. Organizations that have experienced workforce reductions through downsizing, restructuring, or a merger place extremely high expectations on the remaining workforce. Restoring self-confidence to face the impending challenges is critical to meet organizational demands. The ICF Global Coaching Client Study shows 80 percent of those being coaching saw an improvement in their self-confidence.