Recently, the International Coaching Federation (ICF) and Human Capital Institute (HCI), two organizations that have set the standards of leadership development, released the findings of their joint study called Building a Coaching Culture with Millennial Leaders. This ground-breaking report highlights how coaching is directly connected to the success of new leaders in the workplace. Over 670 individuals in all levels of their organizations expressed the importance of creating an environment of coaching when it comes to growing future leaders.
The study found:
- Organizations with strong coaching cultures reported 61% of their workforce is highly engaged vs. the 53% at organizations without this kind of culture.
- Most of the respondents understood that multi-generational differences could be solved by creating coaching connections between seasoned and new managers.
- 46% of the survey respondents indicated that in organizations that have strong coaching cultures, revenues had increased last year.
- The most effective management style keywords, as described by survey participants, were “collaborative” and “coaching”.
What is the connection between coaching and leadership development?
Over the last few years, managers have become less and less involved in ‘lording’ over employees and more apt to coach them through various career goals. This has been shown to be much more effective than just allowing employees to do their own thing and get lost in the process. A structured coaching program handled by a skilled manager can be the key to better new management development. It sets the foundation for longterm success because it is based on proven models of performance and real guidance.
Why coaching works
An article in Harvard Business Review outlines this concept clearly. Coaches, “believe in the value of coaching, and they think about their role as a manager in a way that makes coaching a natural part of their managerial toolkit.” What makes for great leaders is the coaching they themselves have received at some point in their past, and how they now can translate this information to their own subordinates. As millennials take their place as new frontline managers, and make up more than half of the US workforce now, coaching will influence their management styles.
Millennials crave coaching
The 70 million millennials that are currently in the working world are eager for leadership development opportunities. They see themselves very differently than previous generations. They are more adaptable and believe in working for companies with a commitment to making the world a better place. They have vastly different priorities than their predecessors. They are highly technology savvy and live in an information rich world. Coaching satisfies something in them as they forge their way into leadership roles or form their own entrepreneurial pursuits.
Let’s hear from you!
Consider your organization and how it trains and develops leaders. Is there enough coaching happening or is it based on old-school systems of mentoring and hierarchy? Take the time to find out how coaching fits into the bigger picture of the future of your organization.
Ready to talk with a skilled career coach and professional development expert who can help your organization design a more coaching-friendly leadership development curriculum? Get in touch with Tess now.