Benefits of Career Coaching for OrganizationsEmployers hire career coaches not only as a cost saving measure, but more importantly, to "do the right thing" for both the employees and the organization.
1. Increased Employee Engagement
By increasing employee engagement; individuals will be more likely to take responsibility for their work and be a more productive part of the organization. This helps increase productivity and increase retention rates for the organization.
2. Identifying & Developing High Potential Employees
These Hi-Po employees are the ones that need to be considered for leadership development. This allows the organization to find out who they can place into their succession pipeline and what needs to happen to get them there.
3. Support for Succession Planning
Creating successful new leaders and supporting the newly promoted.
4. Improve Employees' Performance within an Organization
Throughout many organizations, coaching programs have been implemented to give employees the opportunity to focus on the skills they may be lacking and become more proficient when performing their required tasks.
5. Boosting Efficiency
Coaching is going to help boost individual performance and in doing so it will help make these employees a more efficient part of the organization.
6. Increase Satisfaction & Motivation of Employees
7. Increase Productive Use of Time
8. Gain Better Understanding of Organizational Issues (Via Aggregate Feedback)
9. Identifying Development Opportunities
Not only will you be able to identify development opportunities for the individuals, but also for the entire organization. Coaching will help give a bigger picture of what areas of your organization need some extra attention in order for your entire team to be successful.
10. Increase Retention of High-Performing Employees
11. Increase Team Effectiveness via More Effective Leaders
12. Minimize Destructive Conflict & Easier Conflict Resolution
13. Demonstrates the Organization's Commitment to Career Development
Today's workforce is extremely invested in their career development and they expect their organization to be just as invested.
By implementing a coaching program, you are showing your current & future employees that you care about their career goals. This will also help you to be more competitive when hiring from the talent pool.
14. Enhance Employee Loyalty So They Feel Valued and Invested In
15. Excellent Return On Investment
Coaching produced a 529% return on investment and significant intangible benefits to business. Including the financial benefits from employee retention; which boosted the overall ROI to 788%. Source: (Executive Briefing: case study on the Return on Investment of Executive Coaching, prepared by Merril C. Anderson, Ph.D. MetricGlobal, LLC)
16. Fill Internal Skill & Role Gaps
Skills and competency gaps, particularly within critical high-level roles, are becoming more and more common as roles become more demanding and the demands of leadership grow increasingly complex.
Creating a culture and a process that facilitates internal mobility is one of the best ways to fill these gaps from within the organization. An internal mobility framework enables qualified employees to find roles most suited to them and enables the organization to fill such roles without the extensive costs associated with hiring, training and onboarding outside hires.
17. Create Positive Employer Branding
Organizations that achieve the most sustainable success are those that attract the best people to develop their strategies and achieve their goals.
An effective career development initiative brands your organization as one that truly cares about its employees, helping your organization to continuously attract the best people for the roles you need.