Why Mid-Level Managers Need A Coach!
You probably made it to management because you were good at detail-oriented performance and because you rocked it as an individual contributor, not because you were trained to be a manager. If you are like most managers, you find yourself spending most of your time on day-to-day operations and little or no time on the bigger picture. As a manager, your basic role is to be in charge of planning the work, implementing the plan, and evaluating performance. Sounds good, doesn’t it? But the detail-oriented performance that got you this job is not the type of work that a successful manager needs to do. You need to plan, organize, staff, direct, and evaluate. And in addition to all that, you start getting calls to put out the multiple fires that pop up unexpectedly. And on top of that, it is your responsibility to develop your team, hold them accountable for their metrics, and coach them grow to the next level. In order to be successful, you must be able to have in your repertoire a good balance of management, leadership, and coaching skills. Are you tired yet? If focusing on firefighting, operational details, and people issues take so much of your time that you can’t focus on the leadership aspects you know are important: looking at the big picture, looking at the systems as a whole, determining strategy for where you want to be, then you’re in the right place.
Coaching has become an integral part of companies today. Between 25% and 40% of Fortune 500 companies use executive coaches, according to the Hay Group, a major human-resources consultancy. Coaches are hired to help leaders transitioning up to the next role, improve teamwork, set and meet specific project goals, attain organizational strategies, and so much more. Case studies show over and over again that companies which have used coaching have seen proven positive return on investment. Robert Pagliarini says that “Done right, professional coaching can drive sales, employee engagement, creativity, workplace satisfaction and bottom-line results. Wellness programs have been shown to provide approximately a 300% return on investment (ROI). In other words, companies who spend $1 in a wellness program (e.g., exercise clubs, personal trainers, smoking cessation workshops) earn $3 as a result of decreased turnover, fewer sick days, reduced health insurance costs, etc. It’s no wonder wellness programs have experienced such tremendous growth – it makes financial sense!“
The ROI from professional coaching is even more astonishing. According to a Manchester Consulting Group study of Fortune 100 executives, the Economic Times reports “Coaching resulted in a ROI of almost six times the program cost as well as a 77% improvement in relationships, 67% improvement in teamwork, 61% improvement in job satisfaction and 48% improvement in quality.” Additionally, a study of Fortune 500 telecommunications companies by MatrixGlobal found executive coaching resulted in a 529% ROI.”