One of the things that can become challenging for businesses is the struggle of employee retention. Companies often choose to utilize financial incentives to motivate and retain employees. However, executive coaching can also be a vital tool for employee retention. Executive coaching assists in helping employees become more engaged and satisfied with their work. For this reason, three out of four coach practitioners said they expect their number of coaching clients to increase over the next 12 months. Here’s an in-depth look at why coaching is the right choice for your employee retention.
Create a better relationship with management.
“Executive Coaching is aimed at inspiring executive leaders to make behavioral changes which transform themselves and the people around them thereby increasing business results and performance.”- Jeremy Robinson
The number one reason why people leave their job is because they feel their relationship with their boss is toxic. However, leaders can take steps to rectify this or avoid it all together. According to the ICF, two out of three coach practitioners report that the majority of their clients are managers. Executive coaching teaches leaders how they can change the way they interact with their employees. This creates a more productive working relationship. In turn, employees are also more committed to their work.
Increase your chances of keeping trained employees.
There is often a lot of time and money invested into training a great employee. It can be devastating for a company to lose an employee in a middle management position. Coaches can help these employees realize their worth within an organization and motivate them to stay with your company instead of potentially finding a job with a competitor.
Learn to challenge employees.
Over time, it is common to become unsatisfied and desire to change jobs. Despite that, executive coaching can help managers change their scope and challenge their employees in new ways that adds a level of importance to their role. Managers can also become more confident in their team and avoid micro-managing. When employees are given more independence, that comes with a sense of pride and responsibility. The result is better quality work and an increase in job satisfaction.
Get Everyone on the same page.
Has your company recently been acquired by another organization or had a change in leadership? Shifts like this can cause a breakdown in communication and put a stop to work flow. Executive coaching helps boost overall morale by building trust and showcasing the benefits of staying on board with the company.
Positive company culture.
“Culture is about performance, and making people feel good about how they contribute to the whole.” – Tracy Streckenbach
While the way management treats and communicates with employees is important, it is also important for employees to work well with each other. Executive coaching creates a positive company culture. This makes every person in the office feel that they are being respected and appreciated every day. Coaching doesn’t just help those on the upper levels of the company. It has an impact on everyone employed there.