I just celebrated my tenth year of Coaching. When I was asked by an executive over ten years ago the following question, “Are you a Coach?” My first response was “in what sport”? I coached almost every sport known to man since I had three very active children so I immediately told him that baseball was my favorite and softball was a close second. He then said that Coaching was now one of the growing professions in business and I should look into it.
I researched the profession and found that there was formal training for Coaching. I ended up choosing an online program called Coach U because the focus of the program was on business application, rather than a life coach, which complimented my business consulting firm. I spent the next 18 months learning the competencies, skill-sets, and practices that would make me a great executive coach and officially became a Certified Business Coach. Later on in my career, I took certification programs in Performance and Small Business Owner Coaching since I was dealing with small business owners and top producers in industries that required immediate results.
I find that Coaching is much more well known today than it was ten years ago, but the term continues to be applied more frequently as a verb and not a noun. Coaching is not the same as mentoring, counseling, or managing. Business Coaching appears to have replaced the term business consulting but I still find the two totally separate. Business Consultation focuses on the effectiveness of the organization and Business Coaching focuses on the individual, whether it be an executive, manager or future leader.
Read: How to Make Choices as a Team
Showing posts with label coaching. Show all posts
Showing posts with label coaching. Show all posts
Sunday, March 11, 2012
Wednesday, September 28, 2011
Coaching - The Most Overlooked Employee Benefit
Companies are saying that executive coaching has become their secret weapon when it comes to acquiring talent. BMW of Canada recently introduced a program that included the hiring of coaches to incorporate training into a leadership – development program.
Coaching can certainly compliment leadership training in any organization and it can be a needed incentive to elevate performance and provide a competitive edge by providing another perk or reason to join. In my experience, I have found Coaching to be a key component to retaining a good to great manager or leader. Coaches can be the link between personal direction and work/life balance while expanding the communication link between the business strategy and the employee by promoting good leadership skills.
Coaching is one of the most cost effective measures for improving productivity, enhancing performance, elevating morale, and supporting human resources with the hiring and selection process and their retention objectives. Turnover costs amount to approximately 1/3 of the salary for the position that needs to be replaced and goes up to about half when you loose a key employee.
The cost of coaching rarely exceeds 10% of the loss associated with employee turnover. You decide; would you rather expense $5000 to support an above average employee or spend $50,000 on replacing them? Coaching is much more than cost-savings for a company or organization. It is a process that supports the people development portion of any business while improving the organization’s effectiveness. Those are
two major components of any company striving to go as Jim Collins says, from “Good to Great”.
A Coach with Leadership Training experience is an unbeatable combination. Helping people reach their potential is the key ingredient for business success.
Most human resource managers that I have talked to state that they do not have any of the following:
1) Succession Plan
2) Mentor Program
3) an External Coaching Program (Executive or otherwise).
Leadership Training and Coaching are two components that can really change the fhnancial situation of a company but are often put aside because it may draw attention to the real costs of turnover and how reducing such can dramatically affect the bottom line. I just can’t image in this time of economic downturn that most companies aren’t willing to look at innovative ways to attract employees and most importantly, retain good employees. I think most companies should use
the term “talent maintenance” instead of “talent management”. There are very few companies that focus on people potential and their development. Which plan do you have in place, “maintenance or management”? It’s time for YOUR secret weapon. . .
A coach with Leadership Training in his background.
Coaching can certainly compliment leadership training in any organization and it can be a needed incentive to elevate performance and provide a competitive edge by providing another perk or reason to join. In my experience, I have found Coaching to be a key component to retaining a good to great manager or leader. Coaches can be the link between personal direction and work/life balance while expanding the communication link between the business strategy and the employee by promoting good leadership skills.
Coaching is one of the most cost effective measures for improving productivity, enhancing performance, elevating morale, and supporting human resources with the hiring and selection process and their retention objectives. Turnover costs amount to approximately 1/3 of the salary for the position that needs to be replaced and goes up to about half when you loose a key employee.
The cost of coaching rarely exceeds 10% of the loss associated with employee turnover. You decide; would you rather expense $5000 to support an above average employee or spend $50,000 on replacing them? Coaching is much more than cost-savings for a company or organization. It is a process that supports the people development portion of any business while improving the organization’s effectiveness. Those are
two major components of any company striving to go as Jim Collins says, from “Good to Great”.
A Coach with Leadership Training experience is an unbeatable combination. Helping people reach their potential is the key ingredient for business success.
Most human resource managers that I have talked to state that they do not have any of the following:
1) Succession Plan
2) Mentor Program
3) an External Coaching Program (Executive or otherwise).
Leadership Training and Coaching are two components that can really change the fhnancial situation of a company but are often put aside because it may draw attention to the real costs of turnover and how reducing such can dramatically affect the bottom line. I just can’t image in this time of economic downturn that most companies aren’t willing to look at innovative ways to attract employees and most importantly, retain good employees. I think most companies should use
the term “talent maintenance” instead of “talent management”. There are very few companies that focus on people potential and their development. Which plan do you have in place, “maintenance or management”? It’s time for YOUR secret weapon. . .
A coach with Leadership Training in his background.
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