About 3 million Americans quit their job each month (According to data from the US Bureau of Labor Statistics). That number doesn’t even take into account the number of employees that are likely considering an exit, and would leave if even slightly nudged in that direction.
With this extreme volume of turnover, there is clearly a retention issue within many organizations. While there are a myriad of reasons why people leave a job, employee benefits are one solution many companies are using to keep great employees longer.
Employer Sponsored Coaching
One benefit more companies are beginning to adopt is Employer Sponsored Career Coaching. Once only available to C-suite level executives, career coaching can be used by employers to help answer workers’ questions about their career paths. Coaching from an impartial, outside party, can also be used to handle daily office tensions that may be swept under your company’s rug.
Getting insight from outside coaching companies can provide support that neither a manager or HR department can provide. It may seem counterintuitive to have employees seek outside career coaching (what if their coach leads them to a different employer?) However, when employers invest in their employees success and development, employees feel valued which leads to greater retention rates.
Career Coaching Is Not Just For People Who Are Unsatisfied In Their Current Role
It’s not always about figuring out the next career step. Often times it can be used to help steer an employee’s ambition and make the most out the step they are currently on. With the right guidance they are able to better understand what motivates them and where they feel there is room for improvement. All of this encourages employee engagement and increases productivity, which is a win for any company.
Coaching Is A Strategic Investment
Companies like Zappos use coaching as a way to enforce one of their core values: Pursue Growth and Learning. Their program provides motivation and encouragement to employees as well as a sense of pride and accomplishment for achieving their goals. This opportunity for growth is extremely important when trying to win the war for talent. In a recent study, 42% of employees say learning and development is the most important benefit when deciding where to work (Udemy).
Overall, having a coaching program provides an outlet for growth which sends a powerful message their individual progress is valued. And with today’s huge turnover numbers and scarce applicant pool, any strategy that increases retention rates is invaluable.
At Center for Victory, we offer impartial, third-party coaching that will allow your employees to thrive. Contact us to see how our services can help transform your company.
From December 28, 2018