According to a study by the International Coaching Federation (ICF), 86% of companies that used professional coaching reported a positive ROI, with 70% recouping their investment several times over.
In the past, executive coaching was limited to the select few high-potential women at the manager or director level due to high costs. However, with online resources, offering coaching and mentoring support to all female employees earlier in their careers can increase productivity, retention and grow the pipeline of women who are ready and eager to move into more senior roles.
Don’t have robust wellbeing initiatives in place? Here are 4 compelling reasons you should be supporting your workforce with professional coaching and mentoring.
Promote Personal and Professional Wellbeing
Amidst a glaring global mental health crisis, workers are demanding their employers treat them as humans above all. As an employer, you should encourage your employees to set limits and take microbreaks throughout their workday to invest in their development. Because, when your employees take time for self-care, they are more likely to put their best foot forward at work.
Increase Employee Productivity
Worker productivity is declining fast in response to the current economic environment and putting pressure on employer compensation and labor costs. However, studies show employees who feel recognized and supported are more engaged in their work and committed to their employers resulting in higher productivity and worker retention rates.
And, with professional coaching your employees can learn to better prioritize and work smarter, not harder, a win-win for all.
Build Internal Community
When employees turn to external platforms for networking and development, you risk losing them to other opportunities. Instead, focus on developing your talent in house. If your organization has Employee Resource Groups, you can use professional coaching to support your ERG leadership and group development.
Attract, Develop and Retain Talent
Offering coaching and mentoring support can help your organization attract and retain talent looking for flexibility, work-life balance and meaningful work. At the same time, it serves to develop the pipeline of diverse, internal candidates who may be ready and eager to move into more senior roles.
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With so many benefits, you’re probably thinking professional coaching must be prohibitively expensive, right?
Wrong!
TONE Networks is the most cost-effective and scalable professional coaching and mentoring solution at only $120/per employee, per year vs. upwards of $150+/hour for traditional executive coaching. Carefully curated video content from credentialed, diverse experts is personalized for each individual and customized for each company resulting in valuable data and behavioral insights revealing key employee sentiments.
Founded and led by experienced female professionals, TONE is currently supporting women in companies across industries including Fortune 500 companies like Comcast, Coca-Cola and Bank of America.