8 Signs Your Company Has a Coaching Problem
As a manager, you want better results and higher profits for your company, but the demands of running a business often get in the way of helping employees to achieve these goals. You have projects to oversee, meetings to attend and budgets to manage. With so many important responsibilities, it’s easy for performance coaching to fall through the cracks.
You may think your time and energy is better spent elsewhere, but a lack of effective coaching can affect your company where it hurts the most – the bottom line.
Do any of these statements sound familiar?
1. “There is so little time to focus on my employee’s career growth and discover their full potential.”
Employees become disengaged and less productive without proper coaching from their managers. They make mistakes, distract their coworkers and quit the first chance they get.
Without effective coaching, your employees will end up costing you more time in the long run. You’ll be so busy doing damage control and hiring new employees that you’ll have less time to focus on other tasks.
2. “I am struggling to attract the right employees.”
Potential employees don’t just look at your compensation and benefits package – they examine your company’s culture. High-quality employees want to work where they are appreciated and rewarded for their efforts. They desire managers who take an interest in their career and help them succeed.
Creating this type of company culture starts with performance coaching. Until you’re able to offer your employees the support they need, you’ll struggle to find the talent that aligns with your core values and can sustain your vision for the future.
3. “Some of my key employees are indicating that they want to quit and some have already taken their talents elsewhere.”
Turnover of any kind is costly for your organization, but it’s especially damaging when it’s a key employee who leaves (or is poached from a competitor). Hiring a new employee can cost anywhere from one month’s salary to an entire year’s salary, and the more critical the role, the more expensive it is to fill.
All employees need coaching and guidance, but it’s especially important for your key employees to feel challenged and engaged. If they decide to quit, other employees may follow suit, leaving you with an even bigger hiring challenge.
4. “My employees are not as productive as I need them to be. They complain of additional work and not enough hours to accomplish all the tasks.”
Every company goes through stages where there is too much work and not enough time. If you don’t coach your employees through these difficult periods, they may check out – becoming the least productive when you need them the most.
If don’t give your employees the help and support they need, you’ll continue to fall short of your desired outcomes. This will cost you time, money and important clients.
5. “Our team’s goals are often missed because I am the one directing the activities, with minimal accountability and reliability amongst my employees.”
It's not enough to chant the accountability slogan around the office. Employees need to know in advance that they are accountable for their results and that there is a fair and accurate process used in tracking their actions.
By offering consistent coaching throughout the year, your employees will stay up to date on their progress and what they need to improve. If you don’t check in often and up close, your company will fail to meet its goals.
6. “The lack of appreciation and recognition of our team members has diminished and rewards have been moved to the back burner.”
When it comes to motivating your employees, appreciation is one corner that you cannot afford to cut. In a study conducted by career site Glassdoor, 54% of employees reported they would stay longer at their company if they felt more appreciation from their boss. 81% said feeling appreciated motivates them to work harder.
While some employees like to be recognized with lunches, bonuses and other perks, others prefer to be given challenging projects or the opportunity to make important decisions. Some people simply like to be thanked for their work, either privately or publicly. If you don’t make time for performance coaching, you won’t know how your employees prefer to be appreciated. As a result, you’ll have a disengaged and ineffective workforce.
7. "I am unable to use the right approach in communicating poor performance.”
You can't fix what you don't address. But even when you have tried multiple strategies, an employee has to want to change their attitudes, beliefs and behaviors before lasting positive results can occur.
Without proper coaching, your employees won’t feel inspired to change. You may talk to them until you’re blue in the face, but if your words don’t resonate, your employees won’t improve their performance.
8. "I am failing to encourage new ideas and solutions through creative approaches."
A workplace with a strong coaching culture challenges your employees and pushes them to try new things. If employees feel supported, they are more likely to take risks and come up with creative solutions.
If you don’t encourage your employees to offer creative ideas, your organization will become stagnant. Competitors who coach effectively will continue to out-innovate your company, rendering it irrelevant.
If any of these statements resonate with you, it’s time to improve your coaching skills. Companies that take advantage of performance coaching are more efficient and profitable, have more loyal customers and attract and retain better employees.
According to a recent study by Bersin & Associates, a California-based advisory firm, effective performance coaching by managers and senior leaders improves business results by 21%.
“Coaching is the No. 1 performance-management challenge that organizations face, yet most don’t understand its value,” says Stacia Sherman Garr, a Bersin analyst and the report’s author.
Whether you are developing others or improving your own leadership skills, you need to learn how to become a Coaching Leader. Your bottom line depends on it.