How Corporate Leadership Training and Executive Coaching Can Transform an Organization and Retain Employees
When up to 82 percent of U.S. employees say they would quit their jobs due to a bad manager, they’re sending a direct message to organizations of all kinds that they value high-quality leadership regardless of the pay offered. Bad leadership skills can cause team members to lose faith in their managers, which isn’t easy when 84 percent of U.S. employees report that they have confidence they can do their manager’s job and 83 percent say they could do their job without their managers, according to a recent study.
Leadership coaching offers a way to retrain managers and leaders lacking good leadership skills to approach their roles in a manner conducive to a productive and healthy workplace. Read on to see three major benefits that leadership coaching can bring to your organization.
Leadership Coaching Benefits Company Culture
Your company culture is the backbone of your organization. It encompasses the common values, practices, and beliefs employees are immersed in. A toxic culture can quickly chase even the best team members away.
Company culture is one of the biggest factors in employee satisfaction. Leadership coaching trains leaders and managers to foster a healthy culture by establishing and reinforcing positive behaviors.
Creating a coaching culture, one that supports personal development and empowers team members, can directly impact business performance. According to Bersin & Associates, coaching skills in management boost performance by 130 percent.
Leadership Coaching Boosts Team Performance
Leadership coaching has a direct impact on team performance, with a 22 percent productivity increase seen when using management leadership training. This productivity increase goes up to 88 percent when executive coaching is also used to reorganize company culture.
Newly coached managers and executives often restructure and remodel the workplace to implement the practices they learned during coaching. This involves filling development gaps, increasing training and support for employees, and developing a higher level of employee satisfaction. As a result, employees perform better because they gain confidence and trust in their leaders.
Leadership Coaching and a Coaching Culture Improve Employee Retention
Employee retention is becoming more of a problem, with more than 47 million U.S. workers quitting in 2021. Employee loyalty remains low as well with 77 percent of new hires open to new opportunities during their first year of employment. These two statistics clarify the importance of offering a culture that attracts and retains employees.
Of those who quit, 20 percent do so for career development, 12 percent for work-life balance, 12 percent for management behavior, 10 percent due to job characteristics, and 9 percent for well-being.
In leadership coaching, leaders learn to develop a coaching culture in which they encourage team members to grow throughout their careers. By allowing individuals to play to their strengths, teams become more effective. Likewise, employee retention increases because employees feel fulfilled and challenged in their roles and like they can continue to grow over time.
