Business Coaching What is it and what is it for?
Two decades ago, business coaching was just another fashion. But today, leaders and organizations understand its value as a fundamental tool for professional development. Companies have understood that empowered, confident and self-assured employees make better decisions and are more effective in their work.
But the reality is that few managers know what to do to make these programs work. The lack of the correct approach in these development programs is the factor that most affects the retention of personnel. In fact, a Gallup poll (2016) reveals that 87% of millennials rate career growth and development opportunities at work as important.
For this reason, your company needs to have a good business coach consultant nj program. If you already have a good program, have you asked yourself, is it giving results? If your answer is “no” you should do something soon. To begin with, let’s see what it is about. In addition, we will address why it is essential to make your employees the leaders of their own development.
What is business coaching?
Thanks to sports coaches, we are already used to the term coach. There are dozens of movies that evoke that great team leader who exploits the physical and psychological capacities of the players. As a result, the players put their best effort to achieve a common goal: to win the match!
Thanks to this, we know that coaching is the same as training. But it is personalized training that aims to get the most out of people’s potential. It is an interactive process of personal transformation in which a coach (trainer) and coachee (client) intervene.
Business or professional coaching is about helping employees to be more effective and involving them in the process. It is also called business training or training. Training influences adaptability, and productivity and decreases the retention rate of employees.
In this sense, to define it in a business context, it should be considered that business training:
- It is a management approach and defines the way in which the role of the manager is performed.
- It is a set of skills to manage employee performance, with the goal of getting results.
- Does coaching allow job growth?
- The answer is yes. Taking the time to train your employees is critical to taking your business to the next level. These are some of its benefits:
It shows how valuable team members are to the organization.
It equips each employee with a better sense of purpose and a stronger connection to the bigger picture of the company.
Employees are inspired to work harder to make the company a success.
Drastically reduces the turnover and attrition rate.
In addition to these benefits, investing in an employee training program helps build a standard of practices and procedures. This program makes it easier to evaluate employee performance, identify weaknesses, and fine-tune the customer service experience. It all boils down to increased productivity and customer satisfaction.
How does a good coaching program work?
You probably already know that each company, consultancy or individual coach uses a different training program. However, their programs usually apply the following steps:
- Identify the current situation of the employee.
- Set SMART (Specific, Measurable, Achievable, Relevant, and Time-Based) goals.
- Share the successes in the process in each section.
- Monitor the process. It is advisable to do a questionnaire prior to each meeting. Doing this helps you prepare for the meeting.
- In an increasingly global business environment, Berlitz provides tools and solutions to improve business communication and does an initial assessment to determine communication biases and preferences. This makes it possible to identify which areas should be worked on.
Tips to foster a culture of coaching in the company
You already know the importance of good training. Now, how can leaders make training a part of their environment? To answer this question we are going to share some tips:
- Lead by example: hire a coach for you too.
- Ask open questions. Questions of the type “how” or “why” empower employees to find creative solutions.
- It starts at the top. It begins by training leaders to take ownership and promote a culture of coaching.
- Encourage training to be routine in each department.
- coaching benefits
Ken Blanchard Companies summarizes the great benefits of business training in the following:
- Increases employee retention. It allows managers to identify challenges and opportunities with their employees and work to improve them.
- Strengthens the leadership of managers. It helps them carefully choose and practice new and more effective behaviors.
- Improve productivity. Coaches help people stay focused on what is most important. In addition, they hold people accountable for their development plans.
- Increase learning retention and return on investment (ROI). Its many benefits allow the amount invested in business training to return to the company more than multiplied.
Regarding ROI, the IFC Annual Report (2009) found that 86% of companies report that they recovered the amount invested in training programs. The same study states that 80% of people who receive training at work have greater self-confidence. While 70% benefit from better job performance, relationships and more effective communication skills.
Finally, a management culture that emphasizes training, regular feedback, and opportunities for growth creates a more engaged and active workforce. On the other hand, the training culture better positions companies to grow and compete.
There is a wide variety of techniques and procedures that your company can use. However, hiring an experienced agency in the field reduces training time and enhances your results.