It’s no secret. There’s a war on talent. Innovation and disruption has us all moving at a breakneck pace just to keep up with industry trends. As BMO’s chief transformation officer, Lynn Roger, puts it, “Speed is the new business currency.”
It's no surprise that as our collective momentum increases, so does our need to acquire skilled, nimble talent. But not only is attracting top talent a competitive sport, retaining those all-stars has become the primary focus for many companies.
To keep up with the talent crisis plus our shifting landscape of rapid change, we need to make sure our managers, supervisors, and leaders are equipped to react in real time. According to Harvard Business Review, “The companies that most effectively adopt agile talent practices invest in sharpening managers’ coaching skills.”
What does coaching have to do with being a talent magnet?
What do coaching skills have to do with talent acquisition and retention? Turns out, almost everything.
Time and again its been proven that low retention is a direct result of poor engagement. The lack of employee engagement is leading to higher turnover. And the cost for companies is high.
“In a recent survey, Aberdeen found that 83% of companies suffer from low engagement. The survey also found that best-in-class companies achieve stronger business results by creating work environments that focus on increasing individuals’ potential to contribute, rather than on company-wide engagement.
- Bas Kohnke , What Companies Should be Doing to Retain Talent in 2019, Fast Company
In other words, companies experiencing the most success are moving beyond engaging people to enabling people.
According to Deloittes’ most recent human capital trends report, business leaders need to make a critical shift towards an employment model that empowers individuals to acquire valuable experiences, explore new roles, and continually reinvent themselves.
Here’s where coaching comes into play.
How coaching works
According to author of Coaching for Performance: GROWing Human Potential and Purpose: The Principles and Practice of Coaching and Leadership, John Whitmore, “Coaching is unlocking people’s potential to maximize their own performance.”
Sounds simple enough, but in practice, coaching represents a significant shift in mindset and overall leadership approach.
In his Harvard Business Review interview, Adrian Moorhouse, Olympic Gold Medal Swimmer and Managing Director of Lane 4, shares the moment he realized he needed to lead by coaching. He explains how adopting a coach approach enabled his team to use their talents to create, innovate, and drive results.
“The job is not to swim the race of your people, but actually let them do the job that they’re great at. You create the scaffolding around them – the framework – and let them play within it.” - Adrian Moorhouse
How to adopt a coach mindset
So how can you begin to adopt a coach approach in order to attract and retain top talent? We have a couple suggestions.
1. Experience the benefits of working with a coach: get one for yourself
Better yet, get a coach (or coaches) for your whole leadership team.
“DigitalOcean, a New York based start-up focused on software as a service (SaaS) infrastructure, engages a full-time professional coach on-site to help all managers give better feedback to employees and, more broadly, to develop internal coaching capabilities. The idea is that once one experiences good coaching, one becomes a better coach.” Harvard Business Review, The New Rules of Talent Management
At Smart Savvy we’ve invested in securing two coaches. One works confidentially, one-on-one with the individuals on all our teams, and another works collaboratively with our Leadership Team.
Not only can we point to greater innovation, collaboration, and bottom-line results on key projects, but our team members have indicated a greater sense of connectivity both at work and in their personal lives. In other words, coaching helps our team bring their best selves to their whole lives. Talk about engagement!
Interested in working with a coach? Meet our roster of certified, experienced coaches.
2. Sharpen your own coaching skills
Whether you’re ready to introduce a coaching culture to your entire workplace or level up your team’s leadership quotient, learning how to coach will serve your company and leaders well.
There are all sorts of programs that you can invest in, so make sure you do you research and find the best fit for you and your team.
At Smart Savvy Academy, we offer a 3-day experiential workshop called Coaching for Leaders Foundations. Whether you want to up your coaching skills as a leader, or take the first step in becoming a certified coach you’ll learn powerful coaching and leadership skills, foundational theory, and practical competencies that you can immediately put to use at work. Plus, you’ll learn how to engage your team to maximize their individual and collective performance.
Still have coaching questions? Drop us a line or give us a call if you want to learn more about how coaching can improve your talent acquisition and retention. Email us at firstname.lastname@example.org or call us at 604-639-5430.
The Case for Coaching
Want to learn more about the case for coaching in the workplace? Download The Case For Coaching White Paper.
Founder and CEO
Peter founded Smart Savvy as a response to a gap in the recruitment industry. As a leader, entrepreneur, and specialist in group moderation and facilitation, Peter brings an experienced, people-first perspective. He passionately believes that in work and life, People are the Plan™.
Smart, Savvy + Associates are experts in helping marketing and communications leaders find people and develop teams that thrive and deliver inspiring results. As a people performance company, we specialize in finding marketing and communications talent in the Pacific North West. We also offer training programs for leaders and teams as well as options to become a certified coach or get coached.