Workplaces are familiar with terms like training, mentoring, and coaching. But the chaos starts while determining who owns which role. Every company has its controversies when it comes to projecting ownership, especially in uncertain times like the COVID-19 pandemic.
However, studies show that offering training for skills development and having a coaching culture at the workplace can have many benefits for employees and employers.
What Is Workplace Coaching Culture?
In short, a workplace coaching culture is a facet in which organizations leverage coaching sessions. These practices allow leaders and managers to coach and motivate employees to learn and develop their skills.
Typically, workplace coaching practices may include actionable goal-setting processes, analyzing the long and short-term goals of employees, prioritizing tasks, individual professional skills development, offering feedback on employee strengths, and providing enough opportunities for employees to develop their skills.
The recent pandemic had impacted companies in many ways. While there were concerns about employee engagement, the sales teams had issues with incentivizing and measuring profits. When asked how the leaders could possibly boost employee engagement and grow sales incentives, the common answer was – Coaching. Employers can offer the right tools like employee coaching software to ensure employee skills development.
Why A Coaching Culture Is Needed For Workplace Wellness?
Having coaching practices can have many workplace benefits. Of the many, here are a few most common workplace benefits that can be achieved –
Increased Employee Retention Rates
Consistently providing personalized and sensible employee feedback gives the workers a feeling of being important and valued to the company. Although offering incentives and employee benefits are effective ways of appreciating their hard work, acknowledging their opinions, and seeking feedback are highly connected with employee satisfaction, in turn, increasing employee retention.
According to a Forbes study, 89% of employers think their high employee turnover rates were because of financial issues. However, only 12% of employees said they left their jobs for more money, while the lack of recognition was one of the key reasons. By offering coaching programs, employers can demonstrate how important employees are to their workplace.
Higher Employee Engagement
Workplace coaching and employee engagement go hand in hand. Studies show companies who seek regular employee feedback through pulse surveys are more likely to bond with their managers and leaders. Most organizations underperform when there is no clarity on workplace goals, objectives, and employee roles. Seeking employee feedback can build trust with the employers, and unlock the loopholes tied to employee engagement and productivity. The higher the employee engagement, the higher will be workplace productivity, and higher will be the employee value proposition.
A Gallup study showed that companies that engaged well with the team members through surveys, coaching, or other workplace solutions had –
- 41% – Lower absenteeism
- 21% – Higher Profits
- 20% – More Sales
- 17% – Higher Productivity
- 10% – Higher Customer Metrics
Coaching practices can be more beneficial to the company when they are scalable. Most companies have more team managers than training leaders or HR managers. Internal coaching and training of team managers not only develop leadership skills in the leaders, but also makes them the people’s leader by developing their team members too. With the right workplace coaching programs, your leaders can turn into coaches motivating employees to turn into leaders.
To ensure employee behavior change and skills development, employers look to implementing training and mentorship. However, workplace coaching boosts employee productivity and workplace culture. Apart from resolving organizational challenges, coaching can also help with better decision-making skills. Also, embedding a workplace coaching culture can influence and motivate employees beyond their mundane performance management to be more proactive and updated. Furthermore, individual coaching can also give a measurable framework that can help with consistent feedback and foster better progress.