Why becoming a coach could be the best thing for you and your business
Tools & Resources
Key learnings
- Coaching can act as a catalyst for organisational transformation, affecting every aspect of a company's operations from the ground up.
- Companies with high employee engagement levels report up to 22% higher profitability and 21% higher productivity.
- A coaching culture encourages risk-taking and out-of-the-box thinking by creating a safe space for failure and learning.
In the complex tapestry of business operations, the value of coaching is often compared to an intangible asset, difficult to quantify yet undeniably impactful. While sceptics may question the return on investment (ROI) of coaching due to its seemingly elusive benefits, forward-thinking leaders understand its profound influence on an organisation's people strategy and, ultimately, its bottom line.
Find out how becoming a business coach can benefit your business below:
The invisible value of coaching
At first glance, coaching appears to be a soft skill – improvements in communication, leadership, and personal development. These aren't easily translated into numbers on a spreadsheet.
However, this perspective misses the real power of what coaching can offer. When implemented effectively, coaching acts as a catalyst for organisational transformation, affecting every aspect of a company's operations from the ground up.
Transforming your people strategy
The real power of coaching lies in its ability to transform a company's people strategy. This involves several key components – click each heading below to find out more:
1
Enhanced employee engagement
Coaching fosters a culture of trust, empowerment, and personal investment. Employees who feel supported and are given opportunities for growth are more engaged. Engaged employees are not only more productive but also more innovative and committed to the company's goals. This leads to higher retention rates, saving costs related to turnover and recruitment.
2
Improved leadership development
Coaching cultivates leadership at all levels of an organisation. It helps emerging leaders identify their strengths and weaknesses, enhancing their ability to lead teams effectively. Better leadership means more efficient decision-making, smoother project execution, and ultimately, a more agile and resilient organisation.
3
Increased innovation and creativity
A coaching culture encourages risk-taking and out-of-the-box thinking by creating a safe space for failure and learning. This environment is ripe for innovation, allowing companies to stay ahead of market trends and adapt to changes more swiftly.
4
Enhanced performance and productivity
Personalised coaching helps individuals overcome obstacles and barriers to their performance. By addressing issues at their root cause, coaching leads to sustainable improvements in productivity, directly contributing to the company's financial health.
Quantifying the Impact
While the direct ROI of coaching may be challenging to calculate, the indirect impacts are undeniable and measurable. For instance, companies with high employee engagement levels report up to 22% higher profitability and 21% higher productivity. Similarly, the cost savings from reduced turnover, which can be as high as 150% of an employee's annual salary for skilled positions, significantly contribute to the bottom line.
Equipping your leaders and managers with the skills to be an effective business coach strengthens the core culture and leadership within your organisation reaping many of the above rewards.
Become a Business Coach
Perhaps now you’re considering becoming a business coach, taking more of a coaching approach with your management or creating a coaching culture in your business – maybe you have been for some time.
The Ethical Coaching Company is running a huge campaign for their two June cohorts of their IOL (Institute of Leadership) approved Business Coaching Accreditation.
Participants can become an accredited Business Coach for as little as £100 (+vat) per month over 12 months or as little as £1,200 (+vat) pay in full.
This is a perfect opportunity to equip you or your business leaders and managers with a formal coaching accreditation. For more information and to sign up to this course, visit the Ethical Coaching company here.
Next steps…
- Sign up to the Ethical Coaching Company’s Business Coaching Accreditation to reap the benefits of being a coach.
- Check out the Leadership and Management Bundle for more insight into effective leadership.
- Watch our video on ‘Three steps to easier business growth’ with Kirsty Waite, Founder and Owner of Ethical Coaching Company.