Employees are working harder than ever before, in increasingly difficult circumstances. They may be worried about job security or anxious about the state of the world right now. Often they’re working at least some of the time from home and, therefore, are more isolated from colleagues and managers. As a result, supporting, developing and retaining good talent has never been more important.
Back in May, at Amire, we began investing in individual coaching for each staff member. An external coach meets with our employees one-on-one each month to define their personal, financial and career goals, develop plans to achieve their goals and hold employees accountable to their plans. We now count this as an essential part of our business practice going forward.
While many companies see the value of coaching for executives and emerging leaders, it’s rare to see companies invest in individual coaching for their employees. In the current environment, this has likely become even more rare as companies become more cost-sensitive, despite an even greater need to support each employee.
Instead, we’ve found the investment invaluable for our business, especially right now. Here are some of the reasons why investing in coaching can be an asset.
Your business will gain a competitive edge
Clients want to work with companies that treat their people well. Not only does that align with their values, it also safeguards against a rotating door of account managers which can threaten the consistency and quality of their experience with us.
In our industry, staff turnover can be high. We buck that trend. Investing in maintaining our low staff turnover rate and keeping our employees engaged, happy and productive is beneficial for our business, clients and employees.
You will improve productivity, engagement and communication
The results of coaching for our business have been impressive. We’ve observed shifts in employee behaviour, less procrastination and improvements to productivity. Our employees are more willing to let us know how we can better support them and communicate with us more openly. For example, several employees have asked to increase their super contribution to 15 per cent to meet their personal financial goals. Our employees know we will back both their personal and career goals.
You will understand your team as a whole
In addition to individual coaching, our coach has also undertaken a DISC analysis of our team to assess personality types and how they fit together holistically. This has been an eye-opening exercise as we have a much better understanding of our team as a whole. Armed with this information we’re able to shift our communication style based on the individual and strengthen our working relationships.
Now isn’t the time to stop investing in our people. Even in a job market with more people looking for work, attracting and retaining exceptional talent will still be as difficult as ever. We can’t take the great talent we have for granted. Investing in our people will enable our businesses to survive and thrive, despite the current challenges.
Sean Rooney, Director, Amire