How Coaching Can Improve Your Training ROI
Despite the huge effort, time, and money organizations dedicate to train their employees so they can reach higher levels of performance, the return on investment is below the expectations.
World-class organizations have started taking a different approach: combining training with coaching, which helps them to speed up the implementation of what employees learn through training and, therefore, achieve higher performance levels much faster.
To your growth and success.
I would like to give today a different perspective on how coaching can help your organization. And that perspective is based on the Return On Investment, that is the base of most of the organizations' decisions these days.
So, let's take a visual example, where we want our employees to perform at this level...
...while they are performing at that level.
So, clearly, there is a gap that we, as an organization, need to close.
What has been the traditional way of closing that gap? Well, the traditional way has been through training. So, we deliver training to our employees, hoping that they will get closer and closer to the expected performance level.
The problem here is that the Return On Investment on training is really low. So, companies need to spend more and more money, put more and more effort in training their employees, to move the needle and to keep them moving toward the expected performance level.
The training market in the US is close to $200b, and some years they have reported 2-digit growth. That shows the effort, the big effort, put by the organizations in training their employees.
But there is a different approach that the leaders in the industry are already implementing with very good results. And the different approach is combining training and coaching, where training provides the fundamentals, the basics, for our employees to perform at the level we need them to perform, and coaching is about the implementation of these basics to speed up the process for our employees to perform at the level that we expect them to do.
But there is a paradox here.
While still many people resist accepting coaching as a very powerful tool to increase the performance of their organizations, we don't question the use of coaching in many industries.
Let's talk about sports, for example, or the film industry, music, arts...
We cannot conceive having even a non-professional sports team working without a coach but, on the other side, we expect our employees to perform at a very high level without a coach.
For those of you who are still not convinced about the benefits of coaching there has been a recent survey by the International Coaching Federation showing that companies that integrated coaching with their operation report more than 500% Return On Investment.
If you still think that coaching is a cost and will not give you many benefits, I hope that these comments have helped to change your perspective and see how beneficial coaching can be for your employees and for your organization.
Thank you very much for listening. My name is Eduard Lopez.
See you next time!