Do you Need Deep Pockets to Develop Talent?

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Do you Need Deep Pockets to Develop Talent?

The desire to always maintain and improve workforce productivity is common to all business leaders. Frequently, this desire is frustrated by factors that seem beyond the control of the organisation.  After all, it’s impossible to address worker’s individual development needs – isn’t it?

Deloitte’s recently published ‘Human Capital Trends 2015’ paper reports on the struggles faced by Irish businesses to develop people by moving from traditional short term training programmes or series of events into a strategic and long term focuses for investment. A key recommendation in the report is for HR to address this by “focusing on the implementation of a framework for assessing, coaching and developing leaders at all levels.”

Implementing a cost controlled coaching programme is an under-utilised but incredibly powerful and cost-efficient way of doing precisely this – developing people by addressing the needs of the individuals who together creates the energy that drives excellence. Coaching is most powerful as a means of achieving that extra 10%, rather than waiting until remedial action is required.

Our Research

Our research suggests that coaching programmes are often seen as a ‘nice to have’ due to common assumptions around cost, scale of delivery, administrative burdens and challenges around reporting a return on investment. At best, we see adhoc investments into coaching one or two staff which delivers immediate short term results but like a fire cracker, burns out fast resulting in diminishing returns.

What if you knew that you didn’t need deep pockets in order to have a coaching programme for your organisation?  Better still that it could be implemented with no upfront investment and a wide range of measures to make sure that the organisation has full control of how and what coaching takes place. 

Sustainable_Talent-ManagementThere is ample research to demonstrate that coaching delivers the most high impact personal and professional development outcomes at an individual and collective level. The most effective coaching programmes are structured, long term resources available to employees as part of an organisation’s overall employee development strategy.

Some of the long term benefits reported verbatim by our coaching clients include;

“Improved my ability to engage and manage relationships with others”

“Increased awareness and a new perspective which has stimulated positive actions”

“My leadership approach is now less transactional and more personal”

“Much happier personally and feel more motivated in work”

With such compelling evidence, why is that so many organisations don’t have a coaching programme in place, as part of their strategic employee support structures?

Here are Some Simple Control Measures

  • You can control who you communicate to, and empower, to make use of your coaching resource e.g. those with people management and leadership responsibilities
  • Give guidance and support tools to make sure that those sponsoring staff for coaching are able to identify high value coaching opportunities
  • Put clear criteria in place for how coaching requests are processed and approved
  • Disperse costs across departmental budgets

These control measures will allow your organisation to communicate to its workforce, that the company has a pool of skilled professional coaches available to meet their individual and team development needs – while at the same time communicating to shareholder that you have full control over budgets.

Our Qualified Coaching Panel (QCP) provides a team of coaches who have been vetted to be of the highest quality, available on demand, and is fully serviced so that it has no material impact on your resources, providing clear measurement and reporting methods. For more general info on the process and benefits of one to one Coaching click here.

If you like what you’ve read, please share it. If you have something to add to enrich this discussion, we welcome your comments below.

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