It’s a pretty well-known fact: coaching is here to stay.
The return on investment of coaching — when performed by a qualified professional — is high enough to ease the mind of the most pressured talent management professionals. The investment is worth it and the impact is tangible.
The market demand shows that in most cases, coaching is an integral element of a leadership development program. It is hardly offered as a standalone solution and is more considered as a critical building block of a learning offering. Typically, top executives and managers go in a classroom for few days, experiencing both challenge and support from the faculty and their peers, only to realize that they have indeed development needs and — guess what — that a coach may help them to bridge the gap to succeed in overcoming some of their leadership challenges.
So why not leverage the power of coaching one step further? Do you know one area where most companies (and their executives) fail miserably? Leading change. According to many studies, more than 70% of change management efforts fail.
That is a lot of money and a lot of dissatisfaction!
What’s in the way is the ability of organizations (at top, middle, and lower levels) to embrace change in the following terms:
- quitting old habits and establishing new ways of working,
- gaining clarity around the big “Why” at an individual (case-by-case) level,
- remaining persistent despite the awkward feelings that change provoke, and
- remaining focused and motivated while keeping up with work that needs to be done.
This is a new area where coaching can be of tremendous value. What would happen if key stakeholders (the ones who can drastically influence the change initiative at all levels) benefited from a coaching track to help them succeed?
What would happen if workers and employees got rewarded for their engagement by having, let’s say, 5 sessions of an hour each to help them cope with the difficult transitions they are engaged in, the social pressure they have to face from colleagues who are resisting change?
If coaching was used in change management initiatives, the success rate would probably increase drastically. In the near future, this would probably be considered as a best practice for change management.