It has been proven in many studies that coaching results in improvements in many areas such as:
- Work relationships within a team (50%),
- Employees’ abilities to see others’ perspectives (47%)
- Improved atmosphere (40%).
In a study (published in the Manchester Review), which primarily investigated executives from Fortune 1000 companies, it was reported that coaching leads to:
- Improved customer service (39%),
- Cost reduction (23%)
- Increased bottom-line profitability (22%).
So having a coaching culture in an organisation not only increases employee retention but can also increase bottom-line profitability.
But if you are going to make the investment in coaching for your organisation how can you ensure a return on investment?
Over the past twenty years, TPC Leadership has not only trained thousands of coaches, but we have also worked with countless organisations to ensure their internal coaching proposition delivers results.
Here are our top 10 critical success factors to ensure investment in coaching really delivers:
- Coaching strategy – a coaching strategy has been developed to link coaching not only to the HR and L&D strategy but also the business strategy.
- Definition of coaching exists – the purpose and use of coaching has been clearly defined. This includes the expected outcomes too, e.g. coaching being linked to high potential development so it is not seen as remedial. The organisation has also made a clear decision on the type of coaching they will use, e.g. external, internal or line manager as a coach.
- Triangular goal setting – goals for a coaching programme have been agreed between the manager, client and coach. Coaching is therefore seen to support the achievement of business goals.
- Learning culture – the learning culture of the organisation is strategically focused on workplace development rather than classroom so is conducive to coaching.
- Sponsorship – leaders of the organisation sponsor coaching activity and role model coaching behaviours; they are coached and coach others. There is also a senior figurehead sponsoring the coaching proposition.
- Alignment with other people processes – mentoring, development programmes, performance management, reward and talent management systems and processes have been aligned and reinforce coaching activity.
- Coaching framework – the organisation has developed a framework and or processes for the induction, selection, matching and evaluation of internal and external coaching activity.
- Resources for internal coaches are in-place – resources are in place to enable internal coaches to effectively coach in the workplace and further develop their capabilities. Examples include supervision, development centres and continuing professional development events.
- Coach assessment – robust and objective assessment processes are in place for internal and external coach selection.
- Management of coaching provision – the organisation has dedicated staff responsible for the coaching provision. These members of staff have high levels of knowledge regarding coaching practices.
If you manage a coaching provision – how many of the above do you have in place?
If your organisation wants to develop its coaching provision, get in touch and we can discuss how to move forward.