Welcome to the third segment in our 5-part series on coaching trends and how to create a coaching culture in your organization. If you missed Parts 1, 2 or 3 – you can access them here: Part 1 Part 2 Part 3 Part 4
This series includes the philosophy and coaching experience of Barbara Fagan, President of Source Point Training, and a recent survey conducted by the International Coach Federation just released in October 2016. We hope you enjoy these insights and applications on how you can include coaching as a way of contributing to people and teams within your organization.
CATCHING THE COLLEGE GRADS WITH COACHING!
What is the new generation of college graduates looking for when considering their first job out of college? You might not have guessed it but mentoring, coaching and a plan for managing their careers rank in the top 5 areas of what today’s graduates look for.
May is typically graduation month for most colleges and this year more than ever there will be many new career opportunities for new grads in most fields from Engineering to technology to biochemical, just to name a few. Many companies have already spent time at college campuses recruiting graduates for career opportunities.
According to a recent article published by Fortune magazine from authors Ed Frauenheim and Tabitha Russell, the companies that attract the most graduates also have the highest achievements in their field of business. College students invest heavily in themselves and expect to have a return on that investment when they graduate. Recruiting and retaining top talent and creating a powerful conversation about your company being a “great place to work” will yield rewards for many years into the future for both employees and employers.
Companies recognized as a great place to work enjoy a sense of team and community. Workers collaborate willingly and are not focused on politics, but more on being recognized for their contributions and guided by their mentors who take the time to give them real-time feedback.
This is why, for the last 7 years, Source Point Training has worked with organizations who are dedicated to providing coaching for their employees. Not the kind of coaching performance that in the past was seen as “fixing” a problem. Today, progressive companies match a mentor who has coaching skills to new employees as part of their on-boarding process. The mentor provides more self-direction in setting goals, knows how to give real-time feedback and encourages reaching out to colleagues for support. These are what will attract the new generation of employees.
Source Point Training has over 30 years of professional coaching experience and today is working with companies who want to train managers to learn the skills of coaching and mentoring employees. The feedback we receive consistently is that employees who receive coaching within their work environment – not just on issues at work but on how to manage time and priorities in their life more effectively:
- achieve a higher sense of self-confidence
- exhibit a willingness to take on new learning and reach new levels
- become the most fulfilled employees and loyal advocates for their company as being one of the “best places to work”
As we wrap up the value of creating a coaching culture in organizations, we have shared that:
- Today’s workforce wants their contribution to be seen and they want to be coached in areas where they can improve.
- ICF surveys indicated that 82% of managers surveyed would like training on how to be effective coaches for their teams.
- Performance coaching is now seen as an employee benefit for those who are seeking career advancement and the desire to increase their contribution.
- Coaching is seen as one of the best ways to retain top talent, build loyalty and is an incentive for developing new capabilities.
- Creating a trusting environment, where managers and colleagues conduct themselves ethically and actively listen to each other is valued more by most employees than the salary they are paid.
- Potential employees can usually find comparable salaries but it is more difficult to find a corporate culture that fosters mentors and coaching people to achieve their career goals.
- A coaching culture’s ROI is only as good as the competency of those using the coaching skills. Coaching employees effectively requires coach-specific skills and ongoing practice/usage of those skills.
- According to the recent ICF/HCI survey Building a Coaching Culture with Managers and Leaders, “The training of managers/leaders using coaching skills is a very important part of building a coaching culture; 87% of respondents with strong coaching cultures report their current training has been instrumental in building a coaching culture.”
- Organizations with a rich coaching culture report less employee turnover, increase in individuals achieving professional and personal goals, changes in attitudes and behaviors leading to collaborative thinking and proactivity, reduction in expense – more efficient use of resources and time, increase in promotions and more leadership opportunities to expand business, and increase in market and customers.
If you want to change your corporate culture to include coaching, email Ginny Carter, Administrative Director, at [email protected]. We will discuss how you can provide your management team with the coaching core competencies recognized by the International Coach Federation (ICF) and the Association for Coaching (AC).
Our best to you,
Barbara and everyone at Source Point Training