Recommended by business titans including Bill Gates and Eric Schmidt, coaching is an area that has seen increased popularity in recent years. However, it does still seem to be a discipline that is very much misunderstood.
Coaching is no longer just an intervention method to address performance challenges. Nor is it about being a motivator or cheerleading. Coaching, when done correctly does in fact create a targeted, effective approach that can help both businesses and individuals to become healthier, more productive and more profitable.
With a tight labour market and a challenging economic climate ahead of us, and firms eager to hold on to their top talent, coaching is a key areas that businesses can invest in to support their high performing employees.
Here are four ways that our coaching approach can support your high performing talent – and by extension your businesses:
Support career progression
In many cases, the existing mid-level talent within an organisation has the potential to become its future senior leaders. Yet sometimes, they may need some additional support to get them over the line. That’s why our coaching session often involve working with high performing mid to senior level talent to help propel them to C-Suite. Whilst the approach and style will be tailored to suit the individual, coaching involves working carefully to cultivate the confidence and resilience needed to reach those coveted executive roles.
Creating a safe space
Coaching gives individuals an opportunity to discuss their vulnerabilities, concerns and challenges within a safe space, without judgment, and with a coach that can help and understand. The BHA coaching approach specifically involves matching clients with coaches that specialise in their particular sector such as financial services to ensure that there is a deeper understanding of the unique challenges and opportunities that the industry presents.
Support with professional transition
When bringing in talent for stretch assignments, or hiring or promoting staff that are transitioning from mid-level to senior leadership, businesses will not always have the time to offer the level of support and training that these employees need. Coaching can support their transition, both in terms of onboarding and in cultivating the skills that are needed for success.
According to research by The Centre for American Progress, costs to replace a fully trained employee can be more than 200% of that employee’s earnings. Yet a study by Willis Tower Watson revealed that Businesses who invest in coaching for their staff are demonstrating a genuine commitment to their professional development. By committing to creating opportunities for growth, shows talent that a company is genuinely invested in their long term progress and professional well-being, and means talent is more likely to commit to staying put.