Coaching in the workplace is something that more and more companies are investing in. This may involve connecting employees to other colleagues within the company, or with external coaches or mentors who can help them develop their skills. Previously, coaching was only offered to executive-level employees. Now, businesses are increasingly investing in coaching for employees at every stage of their career. There are lots of benefits of coaching and mentorship for mentors and mentees, but what are the benefits to the company that they work for? How does it help them in the short and long-term?
1. Re-engaging employees
In just the first 10 years after graduation, we'll change jobs an average of four times. For many of us, these jobs will be completely different roles in different industries. Employees leave companies when they feel something is no longer the right fit for them, either because they don’t want to work in that industry anymore or they’re not happy in their role. Coaching helps employees to segue into working for a different part of the business. For example, a software tester becoming a software developer, or a marketing person moving into product. This means that companies retain their best employees and the soft skills that they possess. Companies also benefit from not having to onboard and train someone new in how their product or service works. It can take new employees up to eight months to reach full productivity. Moving an employee from one department to another means that businesses save on this training time. Innermobility gives employees a new perspective on the business and their role within it, which can be just what they need to become re-engaged.
2. Employees are more productive
Disengaged employees often feel unsupported, under-appreciated, or otherwise not part of the team. They may also feel that the department that they work in doesn't fit their career goals anymore, which means they're less interested in what they work on and therefore less likely to give it their all. This leads to lower productivity levels and unhappy employees. Offering them a way to develop their skills in a way that benefits them both inside and outside of the business is one way that companies can show their employees that they appreciate them taking their time to work for them and not for a competitor. When companies invest in their employees’ wellbeing, the employees are proven to feel happier and more appreciated. This makes a huge difference to an employee's productivity levels in the short and long-term.
3. It improves employees’ soft skills
Soft skills are an important part of any business. They also help employees to succeed in their career, both in the short and long term. Employees can learn soft skills organically, or they can consciously study them to improve faster. Sometimes an employee's knowledge of a particular soft skills can become outdated, such as with the latest presentation trends. Studying them is another way that they can brush up on their skills. Some soft skills coaching can help employees to improve:
- Written communication
- Verbal communication
- Public speaking
- Team work
- Problem solving
- Creativity
Offering employees the chance to improve their soft skills benefits them and the business long-term. It plugs gaps in their knowledge and can completely change the way that they interact with those around them. Marketplaces such as Gloat connect employees with people who have the soft skills that they want to learn. Sometimes these are in-house coaches, other times they’re external. Either way, the employee learns the skills they need to progress further in their career.
4. Recruitment costs go down
It costs an average of $4,000 to hire an employee. The more senior the employee, the higher this cost is. The more money businesses spend on hiring, the less they have to invest in other things. Coaching employees helps them to develop their skills, making them less likely to look externally for career development. When businesses invest more in this type of development, they can foster stronger relationships with their employees. This results in happier employees and higher retention rates.
5. It creates a more positive working environment
Our working environment can make a huge difference to our productivity. More positive work environments lead to happier employees and greater productivity. This leads to more positive feedback both in-person and online, which boosts a company’s employer brand. The positive working environment that’s created through coaching and mentorship facilities creates a reciprocal relationship with hiring and retention that is invaluable to companies. The stronger the employer brand, the faster it is to attract, hire, and retain talent. Employees, meanwhile, are happier in their roles, therefore they’re more likely to stay.
Conclusion
Training in the workplace isn’t just about health and safety presentations anymore. It’s about providing employees with tailored coaching and mentorship packages that can help them to progress in their careers, whether that’s for the company or for someone else later on. It isn’t just about building employees’ skills in their current role, either. Some employees may want to stay working for a company but change roles. Re-training employees through one-on-one coaching offers them a solution to this problem. It demonstrates to employees how appreciated they are, and how much the business wants to retain them.
Want to find out more about the benefits of coaching? Check out our Veterati case study.