…an ‘only when times are good’ activity?
Regardless of the success and impact that coaching has had on people and organisations over the last few years, companies who are not used to experiencing the many benefits of coaching can still be a little sceptical before hiring a coach. This has been made worse since the advent of the financial crisis leaving those companies that are making good profits, still a little reluctant to invest in their people. One Head of Learning I was speaking with recently told me that although his organisation is making more money now that it was at the start of the crisis, their financial investment in people has declined. He told me that his department has many people who are waiting for essential skills training and executive coaching but his boss just will not sign off the budget. This is particularly frustrating for my contact as he sees the decline in staff morale and, inevitably, an increase in churn.
I guess that as a training provider, I am bound to say that now is exactly the wrong time to cut back on essential staff training, in fact, there is a good case that it should be stepped up. It doesn’t take too much imagination to see that now is the time when companies need their people firing on all 6 cylinders. If people are frustrated with the lack of support they receive then naturally they will hardly be motivated to do the best they can. If people are not continually trained and, or coached, then obviously their performance will begin to drop off. Like I say, I am bound to say this but I absolutely believe it to be true simply because I’ve seen it happen. However, the reader need not take my word for it, he or she can log onto www.hda.co.uk and discover some very interesting facts. Here are just some of them:
- 97% of organisations believe that executive coaching impacts positively on business performance. This has risen 10% since the 2008 HDA Survey.
- Over 70% of organisations surveyed offer coaching to employees at all levels – this has increased by 24% since 2008. Where coaching is offered only to certain levels, they tend to be the senior management team, directors or high potentials.
- A growing number of Line Managers are acting as coaches within organisations.
- Concerning the question of Recession versus cutbacks, HDA claim; ‘A significant proportion [responding organisations] view coaching as more valuable than ever as it is seen as ‘a cost effective means of delivering results’ while only 20% of organisations have cut back on coaching as a result of the down turn.’