Coaching produced a 529% return on investment and significant intangible benefits to the business. Including the financial benefits from employee retention boosted the overall ROI to 788%.
This was the result of from a Fortune 500 Company who launched an innovative leadership development effort that was expected to accelerate the development of next generation leaders.
The participants in this effort were drawn mostly from the ranks of middle managers and from many different business units and functional areas.
Coaching was considered to be a key enabler for this approach to leadership development because the participants could work privately and individually with his or her coach to develop specific leadership competencies.
Here are 3 basic coaching skills that will help you achieve that level of success.
THE THREE BASIC COACHING SKILLS
1. LISTEN ACTIVELY
- Don’t interrupt
- Listen not only to the words, but also to the feelings and meaning behind the words
- Test for understanding
- Paraphrase or summarise before responding
- Ask questions
- Acknowledge his/her feelings
- Use silence in a supportive way
2. BUILD CONFIDENCE
- Actively listen
- Be optimistic and enthusiastic. Expect success
- Acknowledge strengths, success, accomplishments
- Acknowledge worries and concerns
- Ask, “What’s right?”, “What if?” “What do you want?”
- Provide support and resources: “How can I help?”
- Involve the person being coached in setting goals that “stretch”
3. ENCOURAGE SELF-DISCOVERY
- Ask ‘big picture’ questions
- Give them time to answer questions
- Ask for ideas
- Listen to ideas, then state yours as extensions
- Evaluate ideas you don’t like
- Give them time to think