Organizational coaching is a powerful tool that can help you identify and develop high-potential employees, recognize organizational and individual strengths and development opportunities, and transition to a new career that better aligns with your values, interests, and passions. The pandemic has made remote work the norm, and coaching plays a critical role in making sure that remote employees are not held back by a lack of in-person connections and spontaneous feedback. Coaching helps virtual and hybrid teams build relationships and create a work environment that encourages employee engagement. Executives can also use coaching to manage the professional development needs of their leaders. A Metrix Global study found that executive coaching has an impressive 788% return on investment (ROI) based on factors such as increased productivity and employee retention.
It involves a professional assistance relationship that focuses on the needs of employees and the objectives of an organization. According to the Gallup report, organizations that hired their employees through coaching reported a turnover rate of less than 59%.Organizations often hire external coaches to work with leaders and managers, providing them with feedback and guidance. Successful organizations, such as IBM, Hewlett Packard, MCI and others, have implemented continuous training so that their employees remain competitive. As organizations seek ways to achieve success in a challenging environment, coaching offers effective ways to support employees, increase productivity, and create a culture of continuous learning. Organizations that strive to maximize profits, increase employee retention and exceed their objectives should incorporate coaching into the development of their leaders.
Studies have shown that organizations that only offer training experience a 22% increase in productivity, but when combined with coaching, that figure rises to 88%.