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It can seem like there is constantly a barrage of new terms to uncover at every turn, in every specialism. If you’re familiar with all things coaching & mentoring, you may have heard the term ‘coaching culture’ before. There are lots of benefits to cultivating a coaching culture that will impact all members of your team, from senior leadership right through to entry-level staff.
Company culture is arguably the most crucial part of any business. With more and more companies investing in their staff, those that are not are being left behind. As a result, companies with poor cultures often see fractured teams and poor results.
For those that are left scratching their heads as to what a coaching culture is, we’re here to clarify exactly what it means and why you should be seeking to create a coaching culture in your business.
Coaching culture definition
A coaching culture can be defined as a company environment in which teams are encouraged to learn and develop in tandem with one another. This is done through the uptake of coaching practices. In a sense, each member of your team takes on the coach-like mindset, picking up coaching skills so that there are ample opportunities for growth as a company whole.
It places emphasis on several key areas of the business that prove to be crucial for staff. These areas are: Learning & Development, communication, feedback, trust and actionable steps for improvement. It is a strategy that when adopted by a business puts an emphasis on its people and their value.
Examples of creating a strong coaching culture include teams engaging and supporting one another no matter their position, this includes top-down and bottom-up approaches. Research shows that teams that are involved in a coaching culture saw profits increase by 67%, showing that building a strong culture is key for success.
What are the benefits of creating a coaching culture within your business?
It helps to create high performing teams
Equipping your teams with the tools to succeed is the first step towards creating high performing teams. A coaching culture allows your teams to thrive and improve because they’re constantly in a position to grow.
With over 70% of Fortune 500 companies utilising workplace coaching & mentoring, it is clear to see some of the most successful businesses around know the value in operating with a people-focused culture.
In addition to creating high performing teams, you will find that creating a coaching culture helps to motivate your teams. Ultimately, if your company places emphasis on offering Learning & Development opportunities you’ll reap the rewards from the continued improvement of your teams.
It makes attracting and keeping the best talent easier
To keep hold of and to attract people you need to offer a supportive environment with opportunities for development. Your people management strategy is one of the things that is going to make your company stand out from the crowd.
Your people management strategy involves all things beneficial to your teams; think coaching & mentoring, upskilling and regular 1-2-1s. With nearly 60% of UK businesses planning to launch more thorough people development schemes in the next 3 years, if you’re not on board you will be part of a minority.
Studies show that employees working in companies with a coaching culture are 94% less likely to quit. In addition to this, it is thought around 60% of staff leave companies due to toxic work cultures.
With one of the biggest costs to businesses being the hiring process, if you are struggling to retain people your company culture could be to blame. Consider working on upgrading your company culture and you’ll experience lower employee turnover and more satisfied teams as a result.
It improves communication & engagement throughout the business
A key point many staff cite as a reason for being unhappy in their jobs is poor communication. It has been found that 60% of employees would feel more motivated if receiving support from their company.
Stagnant companies often find that they are limited by the lack of personal development opportunities. Creating a positive work environment where the core elements of trust, communication and development opportunities are prioritised makes it easier to keep your staff happy.
A coaching culture relies heavily on teams supporting one another, making strong communication one of your company’s key strengths. One of the many benefits of strong workplace communication is employee engagement levels, which skyrocket off the back of this.
The best teams are those that are given clear instructions and are also given the opportunity to enter a feedback loop themselves. This constant cycle between manager and staff communication leaves no room for error and provides the building blocks for growth.
All levels of the business benefit
Lastly, due to the nature of a coaching culture, all levels of the business can benefit from your newfound strategy. From the entry-level staff right through to your business leaders, a coaching culture opens up doorways for involvement from every aspect of the business.
This is the beauty of a coaching culture, you give your staff ample opportunity for growth and you’ll reap the rewards from all levels.
Get the wheels in motion today by speaking to our team. We’re able to handpick a select team of coaches, mentors and wellbeing experts that are perfectly tailored to help your teams thrive in your brand new culture.
Learn more here, plus explore our range of experts here.