As Millennials continue to enter the workforce and take on more leadership roles, organizations are increasingly focused on how to better engage and prepare them. Millennials strongly prefer developmental advancement opportunities, according to a 2017 survey conducted by the Human Capital Institute (HCI) and the International Coach Federation (ICF), yet they also report having a higher commitment toward personal life experiences than toward work. Figuring out how to appeal to both can be challenging. EY (formerly Ernst and Young), one of the largest professional services organizations in the world and one of the “Big Four,” is using coaching to engage and support employees during defining moments, in both their professional and personal lives.
One defining moment that EY has invested coaching resources in is new parenthood. As of September 2016, more than 700 EY employees (25 percent of them men) had taken advantage of coaching for new parents. Gerald Whelan, an EY tax partner who took advantage of the opportunity as he prepared to become a first-time father to twins, told The Wall Street Journal that working with an internal coach practitioner helped prepare him for working parenthood by exploring topics such as how to communicate about his impending parental leave in a way that would set the tone for his team (making it clear that he was taking paternity leave and not vacation).
Coaching can be a powerful driver for talent development and retention, especially for those stepping into new roles such as that of newly promoted partner. EY offers transition coaching during this professional defining moment. As a result of this coaching, 96 percent of these EY leaders understood what drives them; 89 percent were clearer about their role and responsibilities; 80 percent more confidently navigated their environment; 83 percent identified and built the relationships that matter to their success; 80 percent found their footing faster; and 88 percent felt stronger as a leader. Additional findings from qualitative and quantitative surveys of newly promoted leaders indicated these leaders developed new habits around time management, are more self-reflective and engaged, clarified role expectations, converted goals to actions, worked through challenges, developed self-awareness, improved listening and communication skills, and created strategies for managing stress.
Lastly, these leaders said others experienced them as having an elevated level of executive presence due to being calmer and clearer. EY utilizes a combination of part- and full-time internal and external coach practitioners. External coaches must hold an ICF Credential and complete an extensive approval process. Internal coach practitioners must hold an ICF Credential or a relevant advanced degree combined with the required years of experience. Requirements and expectations for part-time internal coaches vary by region and country, but ICF Credentials are the target marker for professional acumen across the global coaching practice.
In recognition of EY’s global coaching offering, the International Coach Federation (ICF) named the organization a finalist for the 2017 ICF International Prism Award. The Prism Award program honors organizations that have achieved the highest standard of excellence in coaching programs that yield discernible and measurable positive impacts, fulfill rigorous professional standards, address key strategic goals, and shape organizational culture. Learn more about the Prism Award and read case studies from past honorees at coachfederation.org/prism.