Publication number: ELQ-89620-1
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How to Create a Coaching Culture
The long-term value of coaching has a return of at least 2x to more than 100x times the cost, learn why and how below!
Introduction
Every entrepreneur and business person I know wishes he had more time for coaching all the members of his team. I often hear the excuse that coaching takes more time than simply diving in and doing the job for the other person, but is that really true? In fact, studies have shown that the long-term value of coaching has a return of at least 2x to more than 100x times the cost.
Of course, that assumes that you or someone you trust knows how to do it right, has the right attitude, and has the trust of the person who needs the coaching. These things don’t happen automatically, and require you as a business leader to build a company culture of coaching at all levels from the very beginning. The key elements of this culture should include the following:
- Step n°1 |
Be the role model for providing coaching and assistance.
If you don’t take the time to provide coaching to people, versus issuing orders, you will never establish a coaching culture, no mature what your policies state. Every successful entrepreneur needs to spend more time developing people, as the business grows. Expect it and plan for it.
- Step n°2 |
Exceptional communication is a prerequisite to coaching.
A business with a coaching culture needs to start with well-defined and documented roadmap, and leaders who are able to communicate these goals clearly and often. Coaches must also be able to give direct feedback regularly, reinforce key messages, and acknowledge success. - Step n°3 |
Reward team members who take the time and effort to share.
These are your natural coaches, as well as your best performers. They need to know that helping is appreciated and beneficial to their career and performance feedback. Effective rewards include public recognition for their efforts, special development assignments, as well as compensation.
