23 April 2007
Johannesburg — LOCAL businesses are starting to suffer from limited growth and less competitive performances as a result of a shortage of skills in all sectors.
To mitigate the damage, they must invest more in the development of core skills and managerial coaching for their staff, writes Christine Leonardi in the Gibs Review.
Developing skills should be a major focus in 2007, yet a PricewaterhouseCoopers survey recently found that many companies spend less than 2% of annual turnover on training. Now they are increasingly turning to coaching to develop leadership skills and improve performance.
Professional services firm MetrixGlobal says executive coaching produces a 529% return on investment -- 788% when factoring in the financial benefits of employee retention.
"The most powerful thing you can do to advance your career, improve professional and personal relationships, and overall happiness, is professional coaching," says MetrixGlobal. This means mastering social, interpersonal, self-awareness, leadership and self-management skills.
Coaches teach people how to cope with social demands, reduce stress and encourage spiritual and leisure activities, to achieve more balance and harmony in all aspects of their lives. No surprise then that the business-coaching industry is growing by 40% a year.
At a conference hosted by the Gordon Institute of Business Science, Tony Ansara of One World Human Capital said coaching facilitates positive changes by challenging people to think differently. It empowers people to achieve more than they realise they can, motivates personal growth, expands skills and boosts individual performances. It can also optimise team performance and morale.
Ansara says coaching benefits companies by improving people's effectiveness, performance and interpersonal skills. It improves staff morale and the work environment; gives people insight into their personal strengths and helps them identify development opportunities; aligns personal and professional goals; develops a person's understanding of how to influence his manager, peers and subordinates; and shows people that they can change their behaviour.
Although the content of sessions should be confidential, the process needs to be managed to ensure clients and coaches follow the appropriate process and best practices.
Coaching should not be forced on anyone, and staff should be shown how the process can help them become better business professionals.
Clients should be able to select coaches as chemistry is important, and an evaluation process will make coaching more effective.
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