You have probably heard it before, but it is worthwhile to repeat it, the success of your firm is intrinsically linked to the human capital you have working inside it on a daily basis. For this reason, one of the most important things you can do is invest in the development of your employees.
Not only will a robust development program attract and retain high-quality talent, but it will also improve your company's overall culture, and have a positive impact on performance.
If your firm is grappling with significant challenges, is having a difficult time enabling precise and effective communication, or just needs more inspiring leadership, then read on for three prominent reasons to invest in employee coaching.
1. It helps you increase your pool of high-potential talent.
No matter the size of your organization, you want to be building teams that comprise people considered to be "high-potential talent". Whether you are looking to hire more workers, or simply take the ones you already have to the next level, there is no denying that leadership coaching can be a massive help.
Once you have identified high-potential talent (which, based on research conducted by Harvard and MIT experts, you likely already know) and recognized their potential through strategic assessment, you can then provide them with the necessary training and opportunities to increase their skills.
You want to offer leadership identity development programs that both recognize high-potential employee strengths and weaknesses as well as develop their understanding, abilities, technique, and expertise. These aspects are critical if they are going to be adequately equipped for more challenging roles.
2. It helps you curate a results-driven team.
That being said, no business can sustain itself without working on team building, and not all teams are created equal. Have you ever wondered what makes a stand-out, coordinated team? Have you ever wished that yours could be more efficient, more effective, and more results-driven? Team coaching is the answer.
The best team coaching programs recognize that every team is different and that they comprise individuals with diverse backgrounds, methods, skills and achievements. Acknowledging this while still developing the necessary habits and communication channels to accomplish work and set goals is why team coaching is so valuable.
Through thoughtful coaching and a tailor-made strategy, you can organize these individuals into a capable team that can powerfully work together to accomplish concrete results.
3. It enhances your organization's cultural awareness.
More than ever before, firms around the world are told that they need to be more culturally aware. Even with the best intentions, this can be challenging to implement as it takes more than just knowing what you have to do to change the company culture. Luckily, the appropriate employee training can make having a culturally-aware company more than just a pipedream.
In “Managing Globally Competent People,” Nancy Adler and Susan Bartholomew list the five cross-cultural competencies that a global leader must have. They are:
- Understanding business, political, and cultural environments worldwide;
- Learning the perspectives, tastes, trends, and technologies of many other cultures;
- Being able to work simultaneously with people from different cultures;
- Being prepared to adapt to living and communicating with people from various ethnic backgrounds;
- Learning to relate to people from other cultures from a position of equality rather than cultural superiority.
Whether you have culturally diverse individuals in your office, are seeking out business opportunities overseas, or are managing remote workers, investing in cultural diversity training for your employees is a significant step towards producing a team of people who have these cross-cultural competencies.
The more the world becomes connected, the more urgent it is for you to prioritize cultural awareness in your company. Otherwise, you are liable to fall prey to incompetent management, communication barriers, disputes, demotivation and a decline in market share.
Does your business invest in employee training? If so, what benefits have you seen? If not, what is holding you back? Let's start a discussion regarding this topic in the comments below!
Salma El-Shurafa is an experienced Executive Coach and founder of The Pathway Project. She is a Professional Certified Coach by the International Coaching Federation (ICF), a Certified Professional Co-Active Coach from The Coaches Training Institute (CTI) and a graduate of CTI’s Co-Active Leadership program.