What advantages can coaching and mentoring bring to you and your business as we look towards the start of a new year?
Although it is seems almost too soon to mention, 2015 is fast drawing to a close and the New Year is moving ever more clearly into view. With new beginnings often comes a renewed energy and commitment to plan some development for our selves and our teams.
Of course there are a thousand and one options available: buy a book from the latest guru, subscribe to a different journal, or perhaps book a conference ticket or training course.
Usually fairly high up the list of options for personal and team development are coaching and mentoring, so I thought I’d take a few moments to review their benefits from a range of different perspectives.
The benefits of coaching and mentoring are typically well recognised and quite varied. According to a large survey conducted by the Institute of Leadership and Management (ILM) into the use of coaching and mentoring, 95% of businesses (of all shapes and sizes) reported seeing direct benefits to their organisation, and 96% saw benefits to them as an individual (of which, 30% was for personal development, 70% was for business and work skills development).
So what exactly are the benefits? And, perhaps more importantly, could your business capitalise on these advantages in 2016?
Strategic and Organisational Benefits of Coaching and Mentoring
Coaching and mentoring can support improvement with many of the key challenges facing a business, for example, attracting more business, improving customer service, promoting initiative and accountability, retaining great people, improving team capabilities, supporting the achievement of specific organisational aims and objectives and demonstrating the organisation’s socially responsibility towards its people.
Personal Benefits for Leaders
We’re all busy, but leader’s time can be expensive as well. Coaching takes less time than a training course and is focussed on the specific development needs of that individual. It can provide objectivity on business decisions, increase awareness of self and reduce the impact of derailing behaviours, broaden the scope of information, ideas and solutions and help leaders deal with ambiguity and uncertainty.
Often coaching is an integral part of a leadership development programme or talent / progression pipeline. Typically aimed at senior managers and those moving into strategically significant roles.
Benefits for Teams
Coaching and mentoring can offer line managers and team leaders more choices for developing and engaging their teams, helping them move beyond simply managing performance and behavioural issues. Coaching can provide structure, guidance and focus and encourage team members to take personal responsibility for the output of the whole team.
Personal Benefits of Coaching and Mentoring
Coaching can be made available to people across the entire business, not just a few people at the top. Individuals at all levels can use coaching and mentoring for general personal development, to improve a specific area of performance and to provide support after a change in position or responsibilities. Other personal benefits include discovery of untapped potential, help co-ordinate career and personal life, improve an individual’s ability to cope with change, improve concentration and confidence, remove performance fears and anxieties and increase resilience.
While this is not intended to be an exhaustive list, they are the most commonly cited benefits from a range of recent national and international studies.
What are the most likely options for you to access these benefits?
- Hire an external coach for yourself?
- Train existing staff to coach across the organisation?
- Turn your managers into coach-managers?
- A series of team development workshops?
- Learn to be a coach or mentor as part of your own professional development?
- A CMI Level 5 Coaching & Mentoring qualification?
All that will depend on the nature of your business and the results you’re looking for. Get in touch with John Chisholm or Mandy Underwood today to discuss what will work for you.