Ask any employer what they would like, and the response is probably a team of the most qualified, competent, self-starters in the business. Ask how to get them, though, and the answer usually relates to recruitment. However, investing in your present workforce can be a more effective way to raise the bar.
Despite the common misconception that career coaching largely benefits the coachees, it’s highly beneficial for the company as well. Unlike career counseling, which emphasizes career change, career coaching teaches employees that adding value to the company leads them towards career development and advancement.
Here are five ways coaching boosts performance, commitment, and satisfaction among employees.
The difference between average and top talent is largely teachable
Career coaches can help employees identify their strengths and weaknesses and create action plans which play to their strengths and overcome their weaknesses. Employees gain skills and confidence; employers get loyal, top talent that already understands the business’ operations and culture. According to Gallup, replacing an employee can cost up to twice their salary. While a single career coaching session costs less than a sick day.
Strong support network for your employees
Coaches themselves act as an important support resource for employees, providing guidance and encouragement. They ensure coachees understand the importance of networking, how to build a network of peers, and how to benefit from knowledge sharing and strategic alliances.
Cultivate a leadership mindset (resulting in better self-management)
A leadership mindset is something that can benefit employees at all levels, not just executives and managers. Coaches teach leadership skills like decisiveness, reliability, sense of responsibility, work ethic, and communication skills.
These same skills are required for leadership which makes for competent, self-motivated individuals capable of managing their own resources and tasks. Imagine the impact of improved productivity and performance of employees who are self-managing and willing to take initiative on projects.
Employee engagement fosters a strong company culture
Strong company culture is important. It encourages top performers to stay and ensures employees are committed to and enthusiastic about their roles. The best way to build that culture is with the help of your employees themselves. Their participation makes it easier to craft a company culture that employees believe in and identify with.
Career coaching is one important way of ensuring employees feel engaged, respected, and invested in. Coaches can also help employees identify what kind of culture most appeals to them and how to communicate that with their leadership and team. Having built this culture themselves, they will be all the more invested in being its champions.
Drive more effective project management and innovation
It’s difficult to overstate the importance of good communication skills with poor communication costing American and British businesses $37 billion annually.
Good communication facilitates project management by ensuring information is clearly communicated and properly understood, and promotes innovation by freeing employees from the stressful and time-consuming blunders that can result from poor communication.
Teaching employees to communicate effectively is a cornerstone of career development coaching. The benefits to businesses are manifold and can be counted in just about every metric imaginable, including productivity, efficiency, and net revenue. Effective communication leads to stronger teams, fewer errors, and greater workplace satisfaction.
Career coaching, like that offered by CareerPoint, teaches invaluable skills that greatly benefit both businesses and employees, resulting in gains in employee engagement, company culture, and average proficiency that are significant and long-lasting. The ROI on coaching can be 7x the investment.
Contact us to learn more about how CareerPoint can help your company engage, retain, and develop top talent.