Did you know that business training alone increases productivity by 22%? But here’s the interesting bit…when individuals have a coach alongside them after the training, productivity increased by 88%.
Executives who were coached saw a 788% ROI (return on investment)…for every dollar spent on coaching, they saw eight dollars worth of benefit in return. Coaching is a relatively new industry that started in the United States in the 1980s and has spread worldwide. It has become very popular because it works! A Manchester study of executives from Fortune1000 companies found that the average ROI (return on investment) was 5.7 times the initial investment in a typical executive coaching assignment. The study found improvements such as:
- Productivity (reported by 53% of executives)
- Organisational strength (48%)
- Customer service (39%)
- Reducing customer complaints (34%)
- Cost reductions (23%)
- Working relationships with direct reports (reported by 77% of executives)
- Working relationships with immediate supervisors (71%)
- Teamwork (67%)
- Working relationships with peers (63%)
- Conflict reduction (52%)
- Organisational commitment (44%)
- Working relationships with clients (37%)
The good news is that you don’t have to go it alone. We no longer have to avoid the tough conversations or fear we will blow it when the time comes. Using a coach to help you work through these conversations to get the best possible outcome AND maintain trust and respect in the relationship can be the solution.
Tough conversations are difficult for a reason; the stakes are high, opinions vary and emotions are strong – yours and/or theirs. Here are some examples of some of those ‘crucial conversations’;
- a tough performance conversation (with your Manager or your team)
- asking for a pay rise or better conditions
- discussing inappropriate behaviour at work
- telling your boss you disagree
- laying someone off with dignity
- letting a customer know that working together is becoming difficult
If you want to maintain great relationships then have great conversations. After all… the conversations IS the relationship.