4 Ways Coaching Affects Your Bottom Line
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Leaders have many misconceptions about coaching. “You have to be an expert.” “It’s time-consuming.” “It’s only for underperformers.” But done right, coaching can impact every aspect of your business for the better. Use this infographic to get the bottom on how coaching benefits your bottom line.
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4 Ways Coaching Affects Your Bottom Line
- 1. You have to be an expert, It’s time-consuming, It’s only for under performers. MYTHS: The truth is, coaching can seriously impact your bottom line. Here’s how: FACT: YOUR BOTTOM LINE: Employees who report to great coaches are 36% less likely to be thinking about quitting than employees who report to bad managers. YOUR BOTTOM LINE: Ready to boost your bottom line? Contact us to see how workplace coaching can impact your organization’s most important priorities. Sources: https://www.inc.com/the-build-network/turnover-costs.html http://www.gallup.com/businessjournal/163130/employee-engagement-drives-growth.aspx Career Builder Study 2016 https://www.entrepreneur.com/article/238640 www.forbes.com/sites/valleyvoices/2017/02/22/dont-be-surprised-when-your-employees-quit http://www.hci.org/lib/building-coaching-culture-increased-employee-engagement http://www.gallup.com/businessjournal/20311/Work-Feeling-Good-Matters.aspx https://dupress.deloitte.com/dup-us-en/focus/human-capital-trends/2015/employee-engagement-culture-human-capital-trends-2015.html 213 Google Project Oxygen, Harvard Business Review;2006 CEB, Learning & Development Roundtable on Workplace Coaching; 2014 i4cp report, Creating a Coaching Culture Building a Coaching Culture with Managers and Leaders, ICF & HCI, 2016 4 Ways BOTTOM LINE COACHING Seriously Benefits the YOUR BOTTOM LINE: More than half of respondents in a recent Human Capital Institute survey said increased productivity was one of the top three outcomes of coaching. HOW COACHING CAN HELP: YOUR BOTTOM LINE: Direct reports of effective coaching outperform their colleagues by 25% and stay 40% longer. 77% of happy workers think their supervisor focused on their strengths (compared to 4% of disengaged workers). Companies with happy employees outperform the competition by 20% insideoutdev.com | 1.888.262.2448 Organizations with strong coaching cultures measured 24% higher employee engagement. Engaged teams report 48% fewer safety incidents and 41% fewer quality defects. Engaged teams are 22% more profitable and 18% more productive than their disengaged counterparts. And 50% of employees who leave, say they left because of a bad manager. When an employee leaves, it can cost as much as 150% of their annual salary (and if that employee is still in their first year of employment, that amount can be even higher). HOW COACHING CAN HELP: Coaching impacts revenue. Want to Know the #1 Benefit of Coaching? 75% of employers say 2-4 hours a day are lost in productivity because employees are distracted. According to the Human Capital Institute, organizations with strong coaching cultures report recent revenue 34% above their industry peer group. HOW COACHING CAN HELP: HOW COACHING CAN HELP: People have a lot of misconceptions about coaching: