Coaching: The Big Payoff Most Banks Don’t Expect

How Coaching is Impacting Employee Satisfaction, Staying-power, and Success

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By Kerry Hatzenbuehler

The top three workforce management challenges facing organizations today are retention/turnover, engagement, and recruitment.  While that may not surprise you, perhaps the realization that a resounding 93% of managers – the people you equip with managing performance and motivating your employees – admit they need training on how to coach employees.

Considering the competitive pull on talent in the industry right now, banking businesses should be filling as many gaps as they can to ensure their employees are satisfied, motivated, and productive.

A crucial area to satisfy is the training and coaching of your management team so that they can properly train, coach, and empower their employees.

How Training and Coaching Help Move Businesses Forward

Studies have shown that the addition of coaching or training programs really pays off – in the forms of improved employee productivity, increased employee engagement, improved retention, employee development (retention, commitment, satisfaction), and improved supervisor performance.

What is coaching, exactly? When most people think of the word ‘coach’ they think of coaches for sports teams that provide direction and instruction. However, the origin of the word coach actually stems from ‘stagecoach,’ which references a vehicle intended to take someone along a route from where they are, to where they need to go.

How does it work? Through coaching sessions focused on clear, desired results, talent advisors are being hired for or within businesses based on the new goals or challenges they’re experiencing.  Often, a talent advisor will use various behavioral assessments and coaching tools to help people get out of their own way.  It’s not therapy, but rather time focused on identifying barriers toward progress and then walking through ways to remove them.

Where to Start:  Coaching Options for Your Workplace

  • Introducing a structured mentorship program to teach employees how to be successful;
  • Facilitating employee learning experiences;
  • Implementing learning, teambuilding, and development programs across offices;
  • Bridging generational gaps;
  • Developing natural talents; and
  • Cultivating leadership programs.

Making a small investment in fulfilling the needs of your team now, can pay off as a large dividend in securing your organization’s people, culture, productivity, growth, and survival.

Visit https://www.kcoe.com/services/kcoe-people/ for more information about how you can improve your company’s coaching effectiveness.

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