February 23, 2022
Top 5 ways coaching delivers a great ROI
If you’re a fan of TV shows about high-power finance or law firms, you may be familiar with the role of the “performance coach.”
This character is typically portrayed as some hybrid company psychiatrist and motivational speaker whose role is to whip up excitement amongst employees, talk them through challenges they’re experiencing, and help them to accomplish big company goals. The coaching provided by Bravely’s Pros may be not be the stuff of prestige TV (less drama, more humanity), but the outcomes are, in their own way, just as glamorous.
Should companies without billions of dollars at their disposal invest in coaching? And, does coaching everyone in the company yield a net benefit?
As it turns out, the answer to these questions is a firm “yes.” Here are some of the best reasons that coaching not only promotes a happier workforce, but a more productive and profitable one, as well.
1. Supports workplace equity
Traditional coaching models tend to only target the leadership level, focusing on executives and managers. While a focus on the C-suite does yield trickle-down results in the form of more self-aware, empathetic managers and team leaders, this model leaves out the vast majority of employees from receiving the support and guidance they need to do the best and be happiest in their roles.
A coaching model that focuses on all employees, however, empowers individuals at every level, including too-often marginalized groups such as LGBTQ folks, women, and people of color, who are overlooked in many coaching models.
2. Turbo-charges employees…
Engagement with a coach is the first step towards a highly personal, unique process of self-discovery for the participant.
Employees are encouraged to look for their “pain point”–what it is they’re struggling with, or what’s holding them back–and to confront matters head-on in a supportive and guided setting. The process has been shown to increase self-confidence, motivation, and empowerment. It also offers some surprising benefits, such as better time-management, increased responsibility for one’s own actions, superior problem solving, agility, and resilience. Cultivating these attributes in employees makes for an energized, optimistic, and effective workforce.
…and delivers meaningful change.
Positive feelings aren’t the only outcome of successful work with a coach, however. The most profound impact of coaching is in behavioral changes individuals are able to make, once they’ve been supported in gaining self-awareness and setting effectively goals.
According to anonymized survey responses, nearly all employees who have engaged with Bravely coaching report that they are more prepared and more likely to take the “next step,” whatever that may be. These individuals also report that they feel more positive about work, more engaged, and that they have learned something new from the coaching experience that they’ll take with them going forward. In short, coaching helps them to become better versions of themselves.
3. Helps disengaged employees to reconnect
In the midst of what’s being called the Great Resignation, or sometimes the “Big Quit,” people are, well, quitting. In droves. Disengaged, unmotivated, and generally unhappy employees are leaving for greener pastures (even if said greener pastures are in the land of unemployment). And many employers are left scratching their heads and wondering why.
Coaching is just one of the ways companies can retain talent, hedging against a tide of resignations by supporting employees in being happier, more motivated, and more fulfilled in their jobs. Bluntly, engaged employees are less likely to leave. And given the high cost of recruiting and then training new employees, forward-thinking companies are using every weapon in the arsenal to keep valued employees where they are.
4. Maximizes the impact of HR
We all want to avoid wasting HR personnel’s time, and coaching provides a way to do that. Individuals who have received coaching tend to have better awareness of their challenges and needs in the workplace. This results in more productive conversations with HR, easier resolution to workplace conflicts (often without even involving HR), and a significantly reduced workload for the HR partners–freeing them up to give more time to strategic work.
5. Yields “bottom line” results for the company
Let’s face it–every company is concerned with its bottom line. But it’s a mistake to view coaching as simply a cost to business. Multiple studies have demonstrated that companies that make a decision to spend on coaching ultimately report revenue above that of comparable organizations in their industries; moreover, employees who have been coached and know their strengths ultimately are able to generate higher sales. And of course, companies save big by retaining top talent during a volatile job market.
Making the decision to lead through coaching
Increasingly, forward-thinking executives are embracing the idea that coaching is for everyone–and reaping the benefits of this inclusive, optimistic, people-focused mindset. Coaching is an investment not only in your employees, but in your company— its mission and its success.
Interested in learning more? Check out our ROI of Coaching Guide. It explains in detail what an investment in coaching actually offers your company.
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