Benefits of Coaching in An Organisation
According to Forbes magazine, the greatest challenge most companies face nowadays is adaptability. In this fast-paced era, companies have to adapt to entirely new marketing channels and strategies (web and social), decide how and where to invest in, learn to utilise new technologies, and compete on a global stage (source: hiscox.co.uk). What’s making it harder, is that in order to effectively deal with those challenges from without, organisations need to deal with, or if not, be in control of the challenges from within such as high employee turnover, stress and conflict in the workplace. In other words, an organisation should have the proper armour and training to survive the demands hurled at them by the fast-paced and ever-changing market place.
Data gathered from numerous research on current industry trends has proven that coaching is the most effective way of empowering the leadership and workforce to successfully hurdle present-day challenges. The International Coach Federation (ICF) defines coaching as “partnering with clients in a thought-provoking and creative process that inspires them to maximise their personal and professional potential.” Developing a culture of coaching within the workplace creates healthy relationships among all stakeholders which, in turn, increases productivity and decreases employee turnover despite the increasing and evolving client demands.
A study conducted by the International Coach Federation (ICF) reveals that 80% of people who receive coaching report increased self-confidence, and over 70% benefit from improved work performance, relationships, and more effective communication skills. 86% of companies report that they recouped their investment on coaching and more.
The acronym of the word COACHING summarises the benefits organisations can get from coaching:
C – reates an environment of growth and productivity.
O – vercomes costly and time consuming performance problems.
A – tmosphere of respect and support, where issues are aired so that problems can be addressed and amicably resolved swiftly
C-reates an atmosphere where ideas flow in relation to new innovations, products and services, and where people find new ways of doing the most ordinary and mundane things.
H -arnesses an employee’s full potential
I -mproves your relationship with your employees
N-egates employee turnover
G-ets organisations to achieve their goals
The definition of coaching as presented by the Australian Institute of Professional Coaches in support of the ICF definition is as follows:
“Coaching is the process of working with individuals to help them achieve their life goals and create a more positive future. Often this involves facilitating self-awareness of issues and problems concerning them in their work and / or personal life. It is a supportive and encouraging process that utilises the client’s existing knowledge and strengths to help them understand their current situation, broaden their horizon, be open to other possibilities and lead them towards effective, often creative, solutions to their problems.”
Equipping your employees today, through coaching, will help overcome the hurdles that your organisation might face tomorrow. Coach them now.