Employee Development | Overcoming the seven challenges to realising the full ROI from coaching

Overcoming the seven challenges to realising the full ROI from coaching

Earlier this month we published our Worklife Coaching Report 2022 – a global study of the state of workplace coaching and what HR needs to do next to realise the maximum ROI from this powerful development intervention.

It’s no surprise that we found that retention was the highest talent priority for UK businesses. What is concerning is that 45% of employees say they will “definitely” or “probably” move to another organisation this year.

However, 87% of employees who want to change roles would prefer to stay with their current employer – and coaching could be a powerful way of engaging and retaining them. Traditionally, coaching has been cost prohibitive to offer to large populations at all levels across the workforce, but our report reveals how you can overcome the challenges that might be holding you back from making this a real possibility.

Several of these challenges relate to the exclusionary nature of conventional coaching models and pricing. Employers need to consider how they can deliver the benefits to all. For example, almost two thirds of organisations claim to offer coaching at all levels, but only 27% of employees at these organisations believe it is available to all.

There is also a significant gender challenge in the provision of coaching and its effect on career mobility. Coaching is not yet the career catalyst for women that it is for men. Men with coaches feel more prepared for their next role (47% vs 33% for women with coaches) and are more likely to move; whereas women are more likely to stay put and focus on being a better people leader.

One of the findings that surprised us is that nearly one in ten of your employees is probably paying for their own coach. Amongst Gen Z and Millennials, some 20% are financing their own coaching. When these employees spoke to their employers about funding a coach, 78% of them were refused outright or felt ignored or dismissed.

That rejection is likely to have a significant negative effect on engagement. And when you consider that two thirds of employees state that the provision of coaching would make them more likely to choose one employer over another – now is a good time to review your coaching provision if you want to improve your ability to hang on to these ambitious younger workers.

Nearly three in ten organisations are now prioritising coaching to improve retention, engagement and internal mobility. New, flexible pricing models can make it more widely available in a more affordable way, and our research shows 99% of employers see it having a positive or very positive impact on the business.

The report presents the challenges in more detail and provides practical recommendations to overcome them.

The biggest benefit both employers and employees gained from coaching was that it helped people to feel more confident at work. How might that show up for your employees? It could mean that they speak up more with new ideas, become more proactive solving customer problems or feel more ready to embrace change and transformation. However it manifests itself, more confident employees are more likely to help you achieve your people priorities – and adopting coaching more widely could be the key to helping you unleash all those possibilities.

You can download the full report by clicking the button below.

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Randstad RiseSmart

Randstad RiseSmart enables organisations to unleash new possibilities for their people throughout their working lives. Greater employee engagement, retention, inclusiveness, internal mobility and talent satisfaction can be achieved when employees have a greater sense of purpose and direction around their careers. We call these worklife solutions. Randstad RiseSmart is the partner of choice for transforming the employee experience and unleashing worklife possibilities.