Business owners and executives will always find ways for a return on their investments. And although most human resource practitioners recommend developing a coaching culture within an organization, there is concern about the costs and benefits that this would entail.
We asked Dino Badilla, a member of International Coach Federation (ICF), to shed some light on this issue. Here are his thoughts:
Coaching in the workplace improves leadership development. It also improves employee engagement, communication skills and teamwork in the company. Businesses that value the importance of coaching have seen significant results in employee engagement and financial productivity.
In a research conducted by the Human Capital Institute (HCI) and the International Coach Federation (ICF) in 2014, results have shown that although more companies realized the value of a robust coaching program, only 13 percent of organizations that participated in the study had strong coaching culture. The study also showed that coaching can be indicative of increased employee engagement—65 percent of employees from companies with strong coaching cultures rated themselves as highly engaged.
Coaching also has an impact on financial performance, with 60 percent of respondents from these same organizations
reporting above average 2013 revenues.
This 2014 study by the ICF participated in by 500 professionals from different organizations found that individuals embraced a coaching relationship to optimize individual/teamwork performance (42 percent), expand professional career opportunities (33 percent) and increase self-esteem/self-confidence (31 percent).
Coaching in organizations are conducted in three ways: 1) hiring external coach practitioners, 2) use of internal coach practitioners; and 3) using managers/leaders with coaching skills. The last one is the most common mode, however, 22 percent of these managers/leaders do not have any formal training at all while 51 percent received less than 30 hours of informal training.
Furthermore, the three main barriers to implementing a successful coaching culture are lack of time, limited ability to measure return on investment and budgetary constraints.
Through formal coach trainings, enhanced performance management, communication skills and team effectiveness may be achieved. It can also jumpstart a coaching culture among employees.
Badilla will be facilitating a workshop titled “Supervisors as Coaches: Developing a Coaching Culture in the Organization” on November 24, 2017 to be held in Inquirer Academy.
The workshop is designed to assist middle managers, supervisors and team leaders in becoming coaches.