There are many things an organization can invest in to look impressive—from upgrading to the fanciest technology to opening offices in the coolest locations—but none of these things matters if a well-trained, well-informed, enthusiastic staff isn’t present. That’s why it’s critically important that companies, regardless of industry, spend time investing in their employees. According to a recent Future Workplace and Kronos study, 87 percent of business leaders today think employee retention is their top priority. While this may mean boosting salaries, offering enticing benefits, and enhancing the overall employee experience, the most effective way an organization can boost retention is by investing in the future of its employees through training and development. Taking the time to coach employees is the first step in achieving this goal. Coaching not only demonstrates the value placed on individual team members, but also gives them a better sense of purpose and a connection to the company’s vision. And this isn’t just a feel-good talking point—the numbers back up the success of coaching and mentoring programs. According to an IBM study, when employees lacked career support and advancement opportunities, they were 12 times more likely to leave.
Coaching Is the First Step in Boosting Retention