Plenty of businesses make investments in coaching for their executive team members. Still, there is a growing recognition that offering coaching to the staff at all job levels, even those in entry-level roles, results in higher productivity and better company culture. Coaching also helps to shape the company’s managers of the future.
In 2021, companies that don’t offer coaching to lower-level employees miss out on a unique opportunity. A recent survey from the International Coaching Federation showed the COVID-19 pandemic caused almost half of coaching professionals to encounter lost income. More than one-third to saw reduced hours on the job. Just one-third of survey respondents said the pandemic did not impact their income.
Due to this harsh reality, coaching professionals appear to be acknowledging that fees for their services will come down in the short term. More than 50 percent of respondents said there would be downward pressure on prices during much of 2021. Additionally, almost 65 percent of respondents said there would likely be an increase in pro bono work. In addition, 34 percent of respondents said that a potential worldwide recession would “severely impact” coaching.
Considering the possible financial opportunity, more organizations may view the value in committing to coaching solutions for not just their executives but for all workers.
What Companies Need To Know About Coaching Employees of All Levels
The Value of Expanded Coaching
Offering coaching possibilities to entry- and mid-level workers will enable, upskill, improve performance and boost employee engagement. Coaches help people recognize goals. They also help find any skills or knowledge gaps that may be preventing them from reaching their identified goals. For entry-level staff members, coaching also provides a unique sounding board. Lower-level professionals can describe their challenges, and a coach can help them come up with potential solutions. Then, a coach can be part of an accountability framework that pushes an employee to act on the solutions they develop. As individual workers get stronger, the organization as a whole improves.
First-time managers can benefit greatly from coaching because they don’t have much in the way of leadership experience and are likely missing key abilities. Coaching helps most first-time managers understand the essentials of managing people by assisting them in understanding motivations, what people expect in a manager, and the habits of good managers.
Generally, coaching helps established, and future leaders do four vital things. They are: get a better grasp of themselves, develop a clear vision of their leadership style, recognize their strengths, identify growth opportunities and outline a quantifiable plan for career development. Through a productive coaching relationship, people of all career levels can understand who they are now. They also learn what kind of leader they would like to be moving forward. Coaching can also help people achieve defined goals and progress in key growth areas they have also defined.
We Can Help with Your Employee Development Initiatives
At ZDA, we work with many of our clients to identify and hire people with significant growth potential. Find out how we can support employee development and growth in your organization. Get in touch with us today!