Corporate Coaching is gaining popularity in the business world. Yet, many do not understand what corporate coaching is and more importantly what corporate coaching is not.
The recent history of corporate coaching originated from executive coaching or one on one coaching that was designed to deliver specific, measurable results through pre-determined benchmarks. This type of learning strategy has been documented to achieve much higher positive returns on investment (ROI) when compared to corporate training and development that has traditionally delivered a negative return on investment.
What is corporate coaching?
Corporate coaching extends existing learning by infusing one on one executive coaching within the education, training and development (T&D) sessions to achieve performance improvement. This integration of executive coaching within the education and training complements research that suggests 9 out of 10 individuals fail to achieve their life long dreams, desires, passion or goals. Remember, the purpose of T&D is sustainable performance improvement to your bottom line growth and the what’s in it for me (WIIFM) is the lynch pin to achieving this desired result.
According to a 2001 study completed by Dr. Merrill Anderson of MetrixGlobal for a Fortune 500 company, coaching can produce a 529 per cent return on investment (ROI). A study by Dell computers reported individuals who received coaching were promoted much faster than those who did not receive coaching. Another study by International Personnel Management Association reported significant positive ROI through measured increases in productivity by 53% to job satisfaction of 61%.
What corporate coaching is not.
Corporate coaching is not life coaching, but a structured strategy (thought process constructed to out think the competition) using specific tactics (actions) that are aligned to the recently received corporate training. The goal or objective of corporate coaching is to ensure that improved performance happens and that it can be specifically measured. NOTE: The key is alignment to the T&D and presumes that the T&D is aligned to the overall strategic plan within the organization.
For example, a company decides that their sales team needs some additional training and development. A solution is crafted and over the next 10 weeks the sales team meets once a week as a group for 2 hours to receive this sales training delivered by an outside consultant or facilitator.
NOTE: Research suggests that impact learning is not efficient nor effective. Impact learning is a one time exposure to a learning event and delivers 2% cognitive retention after 16 days. This is one reason why training and development in many organizations fails to deliver positive ROI. So, if you are sending your sales team to a 1 or 2 day seminar, workshop or conference and expect them to remember what they learned there, save your money by not sending them.
Upon conclusion of the weekly group sessions, each individual receives 1 to 4 hours each month for a set number of months usually 3 to 6. These additional hours comprise the corporate coaching services and provide additional opportunities for feedback and discussion.
The delivery of the corporate coaching services can be through either the facilitator or a designated business or executive coach who is knowledgeable about the goals of the company as well as the recently implemented sales training. Usually, the corporate coach is the facilitator that delivered the initial training because the corporate coaching services must be in alignment with the already received training.
Given that even after we learn something new, we still have questions and those might not surface during the group learning. Executive corporate coaching services provide a proven solution to answer those questions and to make those necessary personal course corrections that help both the organization and the individual to achieved their desired results – sustainable improved performance for bottom line growth.
Leanne Hoagland-Smith speaks, writes and works with individuals and orgnaizations to achieve sustainable performance improvement usually by at least doubling their current results.
One quick question, if you could secure one new client or breakthrough that one roadbloack holding you back from success, what would that mean to you? Then, take a risk and give Leanne Hoagland-Smith a call at 219.759.5601 to experience incredible results.
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