The popularisation of coaching and mentoring in organisations
When it comes to coaching & mentoring in the workplace, there has been a surge in popularity in recent times. Reports show that employees who undergo workplace coaching & mentoring find it a positive experience and are more satisfied in their roles. LinkedIn state that employees that receive coaching & mentoring within their organisation are 94% less likely to quit.
Whilst it seems as a society we’re well on our way back to business as usual after a turbulent few years, the combination of the pandemic, advancements in employee wellbeing and a shift to more modern ways of working have all been contributing factors to the popularisation of coaching & mentoring within organisations.
Have you considered where your company stands on the subject? Here we look at some of the reasons why organisational coaching & mentoring has become so popular, and why if you’re not already involved you could be missing out.
What does workplace coaching & mentoring involve?
Workplace coaching & mentoring involves experienced business experts partnering with a company in order to improve performance, knowledge and skills. This can include bode individual and team coaching & mentoring, from entry level through to executives.
CIPD state that workplace coaching & mentoring improves employee retention, team performance, and long term career development.
Why is coaching & mentoring for organisations so popular?
Out with the old & in with the new
Over the last 20 years we have seen a sharp change in technologies and with this, advancements to the way we work. The Small Business Chronical state that less tech savvy businesses are much more likely to fail than those who modernise with tech trends. With the collective takeover of Silicon Valley on our day to day activities and a shift to more virtual lives, organisations have naturally shifted to new models of work.
Virtual meetings are now a fundamental part to many businesses, meaning that business travel is no longer a necessity. Countless work meetings now take place virtually unlike before - reports show the daily use of software such as Teams, has increased tenfold in the last 5 years. This means staff can receive support and training without ever leaving their desk.
In addition to changes in technology, BBC report that there is an ongoing trend for ‘digital nomads’ that is – employees who permanently work from remote locations and have no appearance within the office environment. The focus on a workforce spread far & wide calls for updated forms of wellbeing and support.
With advancements in technology, we’re finding more than ever that businesses are increasingly willing to invest in coaching & mentoring due to the ease. Virtual group workshops and 1-2-1 support is now available at the click of a finger. The change in the way we work has opened up new doors and opportunities for learning and development.
More emphasis on people
If there is one area society has become more comfortable talking about, it is mental health. What once was taboo, is now talked about openly - ranking highly at the forefront of employee wellbeing schemes. Mckinsey state that companies who support employee wellbeing massively benefit from such schemes due to overall improvements in staff. Mind Charity report that 60% of employees would feel more motivated if their employers offered support for their mental wellbeing.
In addition to supporting employee wellbeing, firms are competing for the top talent. When the top talent have the pick of multiple options, company culture and wellbeing schemes are often a deciding factor. Forbes state that 71% of Fortune 500 companies offer workplace mentoring in order to attract the best talent.
Gone are the days of organisations expecting 24/7 staff availability and a soulless workforce. Now, thanks to the large tech firms paving the way for employee wellbeing, the trickle-down effect has lead to lot more emphasis on work/life balance even amongst smaller firms, with nearly 60% of UK firms planning on implementing wellbeing structures in the next 3 years.
Modern firms are paving the way for the new generation of workers and according to The Small Business Chronical - this isn’t going to change any time soon.
Tying the above two points together and at the forefront of all firm’s minds over the last few years is the pandemic. Having fundamentally changed a great deal about many aspects of life, there is no denying its permanent long-term impact.
One unavoidable area the pandemic has affected the population is mental health. Over 60% of adults reported worsening mental health due to the pandemic, a statistic that reverberates and has a knock-on effect on our workforce.
Similarly, a major change includes the shift towards new working models, such as hybrid working. With this, comes the challenge of ensuring all employees are comfortable and developing, whilst away from the office environment.
Studies show that many organisations now prioritise employee wellbeing and mental health related support citing the pandemic alone for this change.
The Chartered Institute For Personal Development recommends employers monitor employee welfare and offer a range of support in order to help teams flourish in a post pandemic world.
Although we’re now on the other side of the pandemic, the changes it thrust upon us are here to stay.
Don’t miss out
Factor in our above points and the jury’s in, organisational coaching & mentoring is more popular than ever due to its huge benefits. Your employees will benefit from career development, improved team performance and you’ll a reduction in staff turnover.
So how do you take the first steps towards your workplace coaching & mentoring journey? Reach out to our team today.