Ep 047: Coaching Mini-Series: Part 4 – The Benefits of Coaching for Organisations
Welcome to this week’s mini-series on coaching, today I am going to focus on how coaching is not only an incredible investment for individuals but it’s also hugely beneficial to organisations. I’m going to be discussing how it’s cost effective, it creates a better working environment and your employees feel more trusted and valued.
Here are the highlights:
- (01:15) 86% of companies made back their initial investment
- (01:42) Coaching can have a real impact on the bottom line
- (02:08) Coaching helps retain employees
- (02:30) Your company does not lose company knowledge
- (03:10) Teams can work together more effectively
Transcription
Nicola: [00:00:00] the benefits of coaching for women at the top for organizations. So we’ve talked about the benefits for individuals. So those promotions pay rises. So dream jobs, but for organizations as well, coaching is an incredible investment to really make a long-term investment in employee to really improve before.
And really at its heart bottom line income, as it was. And it’s a hugely cost effective way of improving performance of key individuals and those very senior leaders and also future talent. And it’s evidence of the company’s commitments, developing its people and contributes to a really supportive organizational culture where people feel trusted.
They feel that they are valued, they feel recognized, and it’s a real, it’s a really positive way. [00:01:00] That you, you are there supporting someone’s career. And as you know, I’m a bit of a stats geek. So I did a little bit of research into the statistics around coaching and it’s hugely, hugely positive. So 86% of companies that could calculate that return on investment said they made at least back their initial investment.
One particular study has identified. Coaching has a 221% ROI. And 51% of companies with a strong coaching culture report, higher revenue than the industry, peer groups. So poaching, isn’t a nice to have coaching can become a neater. It can have a real impact on the bottom line. It can have a real impact on making that an organization that people want to join, where they feel valued and they feel respected.
And if you think about the other side of things, if you think about the cost, so if you’ve got someone that’s feeling, not feeling as connected, they’re feeling [00:02:00] frustrated in their role, they’re feeling like they don’t see the obvious next step. Coaching is really going to help them to retain really stay within the company.
And you can retain those key employees and lower the cost. So you don’t have with someone’s choosing to stay juicy, to commit and be loyal to our organization and to really make an impact in that role. It lowers a lot of costs. It lowers the cost of retraining, someone new into the role. It lowers the cost of recruitment and for senior role, that could be 30 or 40,000.
It means that you don’t lose that company knowledge. That’s built up over years and years and years, and that going to a capacitor because someone’s frustrated and they just end up leaving. And it also sees an improvement. You could see an improvement in productivity rather than someone at that drop in productivity on that ability to get things done when people leave.
So there’s some real tangible impacts here. There’s a really, really clear ROI for companies as well. And as a really. Really huge benefit to organizations with having [00:03:00] coaching and coaching that can be at an individual level, or it can be a program level for aspiring future leaders, or that could be at a team level for teams to work together more effectively.
So really the type of coaching depends on what your organization needs, but actually the benefits of coaching for women at the top individually and across organizations. Absolutely cute.
if what I took about really resonates with you and you love what I have to say, and you have moments and flashes of inspiration from the podcast. I would invite you to get in touch, to find out how I can help you. So individually, that can be through my coaching focus program for my VIP program, depending on how you like to learn and what will suit you, or I can help you in your organization to really help the women that you work with across the organization at all [00:04:00] different levels.
And at that very senior level to really feel empowered and to know that they can reach the very, the most senior levels in that organization and to give them the. In who they are and the clarity, what they want to be able to get there. And we do that through workshops, do that through leadership programs, and we can do that.
Free consulting work. If you are looking for help with any of that, drop me an email nycla@nicholasschoolco.com. The spelling’s not the easiest. So all the details were in the show notes results I get for clients. Clients have been promoted twice in the six months we’ve worked together. They’d been invited to join the board.
They’ve gone from redundancy to being offered three dreams. They’ve gone from being pushed out of an organization to going into bigger organization and a bigger role with a bigger pay rise and just a quote from a client that I particular. I’ve gone from the pit of despair. When I started working with Nick to just being really happy and she is an incredibly empowered leader.
Now, if you’re not quite ready for that, you can download my overwhelmed on fire guide the [00:05:00] details that are in the show notes, but that really helps you everyday to stay in your fire. So it helps you to clear your head, helps you to come back to what’s important to you, and it helps you to have that most impact and influence every single day.
It’s a little Quip sheet that you can just go through and take. So go and download that. Or you can subscribe to my newsletter, which comes out every Friday, which is a Roundup of the week. Really? So what’s going on in my world. What’s the blog for that week, a quick video, that’s going to help your particular subject.
And it’s all about helping female leaders to find their fire and also stats in and any research from the industry as well. And things that I’m reading the. Um, recommendations that we’re making. So go and subscribe to that. And finally, for the podcast, if you haven’t done so already, I would love you to go and leave us a review and subscribe so that you never miss an episode.
And you’re always going to have the one that release and doing that as well. Not only helps you, but it also means that we’re going to reach more women and we’re going to be able to [00:06:00] start that revolution to helping female leaders, to keep that fire, find their fire and keep it. Keep that passion, that purpose side excitement.
So if you haven’t done that already, please go and do that. Thank you.
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