{"id":32787,"date":"2024-04-12T11:52:59","date_gmt":"2024-04-12T16:52:59","guid":{"rendered":"https:\/\/trainingmag.com\/?p=32787"},"modified":"2024-04-12T12:00:43","modified_gmt":"2024-04-12T17:00:43","slug":"coaching-pays-off","status":"publish","type":"post","link":"https:\/\/trainingmag.com\/coaching-pays-off\/","title":{"rendered":"Coaching Pays Off"},"content":{"rendered":"<p>Studies attesting to the benefits of coaching abound. In fact, recent research from people development company Torch explored the <a href=\"https:\/\/torch.io\/blog\/how-does-the-coaching-ripple-effect-transform-individuals-teams-and-organizations\/\">\u201ccoaching ripple effect,\u201d<\/a> which establishes how coaching drives skill development. Specifically, the research found that when managers change as a result of coaching, direct reports change, too:<\/p>\n<ul>\n<li>9 in 10 employees report developing new skills as a result of their manager being coached.<\/li>\n<li>51 percent of respondents shared that their manager has helped encourage them to learn continuously (for example, by encouraging a growth mindset).<\/li>\n<li>67 percent of respondents agreed they\u2019re more likely to seek out opportunities to develop new skills.<\/li>\n<\/ul>\n<p>But one of the biggest benefits\u2014and one that will almost certainly ensure leadership buy-in\u2014is the return on investment organizations reap from coaching. Research from the <a href=\"https:\/\/coachingfederation.org\/\">International Coach Federation (ICF)<\/a> suggests that companies that invest in coaching have an average return on investment (ROI) of seven times the initial investment. That\u2019s why Hill Holm Coaching &amp; Consulting founder Jessica Hill Holm believes \u201ccoaching isn\u2019t just a mere employee perk or motivational boost. It\u2019s an indispensable strategic imperative, driving measurable and impactful financial returns. The compelling 51 percent revenue uptick reported by organizations fortified with robust coaching cultures serves as irrefutable evidence.\u201d Check out her article, <a href=\"https:\/\/trainingmag.com\/the-7x-roi-of-employee-coaching\/\">\u201cThe 7X ROI of Employee Coaching,\u201d<\/a> to get a blueprint for a successful coaching program.<\/p>\n<h2>Resilience and Team Coaching<\/h2>\n<p>In today\u2019s ever-changing world, one particular form of coaching\u2014resilience coaching\u2014can help individuals and organizations transform adversity into a catalyst for growth and success. \u201cAs a crucial skill in our personal development toolkit and corporate training programs, resilience coaching empowers individuals to leverage adversity rather than avoid it,\u201d explains communication coach Amit Grinvald in <a href=\"https:\/\/trainingmag.com\/coaching-for-resilience-harnessing-adversity-to-fuel-growth\/\">\u201cCoaching for Resilience: Harnessing Adversity to Fuel Growth.\u201d<\/a> \u201cBy thoughtfully integrating resilience coaching into corporate training, organizations can foster a more adaptable, resilient workforce capable of navigating challenges and contributing to a positive and productive work environment.\u201d<\/p>\n<p>In a similar vein, coaching the \u201csystems\u201d within teams helps build a psychologically safe space for individuals and groups with measurable goals aligned to organizational needs, according to Ram S. Ramanathan, founder of Coacharya. His article,<a href=\"https:\/\/trainingmag.com\/revolutionizing-leadership-development-with-systemic-team-coaching\/\"> \u201cRevolutionizing Leadership Development with Systemic Team Coaching,\u201d<\/a> details the five-step process of the SPEED coaching model that is particularly effective for a senior leadership team charged with a well-defined performance objective critical to organizational growth. \u201cCompanies have realized that teams are critical to bond individuals collaboratively to common co-created organizational goals that work for all,\u201d Ramanathan notes, \u201cand that teams need to be developed through a planned process of emotional bonding with safety and trust, leading to individual and organizational wellness.\u201d<\/p>\n<p>For a deeper dive into a coaching case study, discover how not-for-profit organization Together for Children (TfC) partnered with The OCM, a UK-based global coaching and mentoring organization. The resulting coaching program has transformed TfC\u2019s performance and the quality of its children\u2019s services (see <a href=\"https:\/\/trainingmag.com\/case-study-together-for-childrens-cultural-shift\/\">\u201cCase Study: Together for Children\u2019s Cultural Shift\u201d<\/a>).<\/p>\n<h2>Mentoring Matters, Too<\/h2>\n<p>Like coaching, mentoring can have a tremendous impact on an organization\u2019s performance and success. But it is not always easy to find a mentor, particularly for those in small businesses. Rushi Patel, CRO and co-founder of small business team management app <a href=\"https:\/\/joinhomebase.com\/home\/\">Homebase<\/a>, writes in <a href=\"https:\/\/trainingmag.com\/how-can-we-bridge-the-small-business-mentorship-gap\/\">\u201cHow Can We Bridge the Small Business Mentorship Gap?,\u201d<\/a> \u201ca massive <a href=\"http:\/\/email2.sourcecodecomms.com\/c\/eJwcjrGO3SAQAL8Gd35aFjCmoEiUUOYfYHedZ-UMJ-CdlXx9dNdMM8UMR50RWC8StQcXnHfBLM9IhH7fYJNNbwyHBQ9eChXMUoI_8nJGBLSgEVHDZsxDSvFiD95cDgaZlYXRXp2EGgu16xoPatfyFp9zvg9lvilMCtN934-j9SJfWmEa55ShMP3JU56593O0qjAh6F1h0qAwmU9UudcxX_x37fIh-W2sUmeX9y5VXn2sVYTXq3VZL6mz9bP-_iyaNJ7K_EBwepei_a7D0uPP778-TrmHspD7-U_q_Jqd0Zq9ZLIAWyFhDljA-52BgQIEdsuMuwlMcmxYyBUfyFlyR9Eo1jDlg_4HAAD__43GbXQ\">89 percent of small business owners<\/a> who don\u2019t have a mentor wish they did. The problem isn\u2019t that opportunity isn\u2019t there\u2014it\u2019s that we need to empower small business owners with the resources, knowledge, and confidence to find (and become) mentors.\u201d He offers tips for uncovering opportunities for mentorship, as well as how small business leaders can become mentors.<\/p>\n<p>Author and chairman of money management company High Vista, Ed Hajim stresses the importance of one-on-one training and mentoring. He recommends that companies provide mentors with time to become familiar with mentees and their background and offers a road map for this journey: The Four Ps, which focus on passions, principles, partners, and plans (see <a href=\"https:\/\/trainingmag.com\/one-on-one-training-and-mentoring-is-essential-for-future-growth\/\">\u201cOne-on-One Training and Mentoring Is Essential for Future Growth\u201d<\/a>).<\/p>\n<h2>Factors in Awards Programs<\/h2>\n<p>Coaching and mentoring both feature prominently in two of our awards programs focusing on excellence in employee training and development and leadership development.<\/p>\n<p>Our <strong>Emerging Training Leaders Awards<\/strong> program recognizes training professionals in the industry for 2 to 10 years who have demonstrated exceptional leadership skills, including acting as a mentor\/coach and providing regular feedback. Click <a href=\"https:\/\/trainingmag.com\/nominate-a-2024-emerging-training-leader-today\/\">here<\/a> to nominate one of your colleagues, direct reports, managers, or clients (no self-nominations; each company can nominate up to two candidates; there is no fee to nominate someone).<\/p>\n<p>Coaching and Mentoring are two scored categories on our <strong>Training APEX Awards<\/strong> application, with judges looking at specific programs offered and the impact they have on helping to achieve specific business unit goals and the organization\u2019s overall success. Click <a href=\"https:\/\/apex.trainingmag.com\/\">here<\/a> to learn more and apply for the 2025 Training APEX Awards (applications are due September 3, 2024).<\/p>\n<p>I\u2019m happy to answer any questions you have about either of these awards programs\u2014and coach you through the application process. Just e-mail me at <a href=\"mailto:lorri@trainingmag.com\">lorri@trainingmag.com<\/a> or call me at 516.524.3504. I look forward to learning about how you are maximizing coaching and mentoring in your organization!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Research from the International Coach Federation (ICF) suggests that companies that invest in coaching have an average return on investment (ROI) of seven times the initial investment.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[12],"tags":[32],"class_list":{"0":"post-32787","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-magazine","7":"tag-editors-note","8":"magazine_issues-april-2024"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coaching Pays Off<\/title>\n<meta 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