Using Executive Coaching as a Corporate Recruiting and Retention Perk
For far too long, executive coaching has been associated with high-potential employees, most notably reserved for individuals from the C-suite level on up. This includes top-level executives who’s worth to the company is directly tied to performance, strategic direction, and critical decision-making abilities. Therefore, it made sense that offering further professional development to this audience would produce the best likelihood of recouping a return on the investment.
But in the interest of reviewing the effectiveness of this traditional arrangement, is the top echelon truly the best target market for professional growth and development? Not anymore.
Even before the pandemic upended the workplace, scattering executives and teams into fragmented cells, the office dynamic as we know it was evolving. The highly motivated and ambitious Millennial and Generation Z employees were fast becoming the majority driving force of productivity, efficiency, and progress. For C-suite executives, career development has mostly reached its apex. But for middle management players, goal-oriented advancement and merit-based opportunities are everything. Might executive coaching go further and produce more results if afforded to this cross-section of movers and shakers?
Companies are now beginning to embrace the idea—willing to extend executive coaching and leadership training to a much broader audience, eager to accept instruction—and put it to good use. In addition, companies are discovering that investing in executive coaching and leadership training for middle management can have a profound effect on the collaborative mission to address two key initiatives. The transition of offices into highly functional digital environments and the increasing importance of establishing a definitive corporate culture.
But according to one ILEC executive, the situation on the ground and in the corporate recruiting trenches could still use a wakeup call. Rich Baron, a Master Certified Intelligent Leadership Executive Coach who has lived and worked in Utah for over 25 years, has a few thoughts on the perks currently being offered to entice employees:
“Most employers offer a mix of standard benefits such as competitive wages, medical and dental insurance, tuition reimbursement, and 401K. However, the companies that have been dubbed as, “The Coolest Businesses in Utah,” are offering perks such as Zen rooms, onsite yoga sessions, unlimited PTO, gourmet coffee bars, free peanut butter and jelly sandwiches, pool tables, foosball tables, hoverboards (I would love to see this organization’s safety records), leather couches in the breakrooms, gas firepits, open mics in the breakrooms for Ted Talk-style lunches, and 100% paid maternity/paternity leave for six weeks including a year supply of diapers (I do have to admit, that is a very cool perk). Each of these organizations tout these benefits as part of their culture. However, this begs the question, why is there still a struggle to find and keep good talent? The number one reason for employee turnover, regardless of the industry, is poor leadership. Not one of the organizations listed leadership development as a perk, let alone a priority for future success and development.”
Baron, along with his ILEC coaching partner Maikel Bailey, host a podcast called “Mainline Executive Coaching ACT” and their most recent episode is entitled, “Using Executive Coaching as a Recruiting and Retention Tool”. It’s well worth a listen.
Using coaching as a corporate recruiting and retention perk will continue to pay dividends for those who direct these resources to the proper target audience. For recipients, be they new employees or those rising through the ranks, it communicates a clear message that management believes in their value and potential. Consequently, these select coaching participants are much more likely to respond, engage, and strive to reach their full potential.
“As the workplace continues to evolve, opportunities for professional development and leadership coaching must become a top priority for employee retention and to develop the type of culture necessary for future success,” Baron affirms.
Rich Baron is a Master Certified Intelligent Leadership Executive Coach and CEO of BRL Leadvisor, Inc., with over 25 years of operational management and executive level leadership experience. Along with his coaching partner, Maikel Bailey, they bring over 50 years of executive coaching and leadership experience to the table.
For over a decade, the Intelligent Leadership coaching methodology has helped thousands of employees reach their full potential through a proven process and tools which empower their abilities to learn, grow, and become effective executive leaders. For a detailed look at how an executive coaching program can transform your workforce and help your employees reach next-level productivity benchmarks, visit https://executiveleadersactilec.com