In these tough economic times all companies are watching what they spend their money on. Every dollar spent must have a tangible payback; development and training are very closely scrutinized for their rewards. Unfortunately some companies see employee development as “nice to have” as opposed to a critical strategy for developing and retaining their employees.
Good wages and benefits are what normally attract an employee to work for a company in the first place, but it is not enough to keep them. Employees want to feel valued and to be heard, leaders who can communicate well will retain their employees.
A study of Fortune 500 companies found that 21% to 40% utilize Executive Coaching as standard leadership development for elite executives and talented up-and-comers. (Hay Group) in those companies;
77% Improved relationships with direct reports
71% Improved relationships with immediate supervisors
67% increase in teamwork
63% improved relationship with peers
61% increase in job satisfaction
44% Increase in Organizational Commitment
37% Improvement in Relationships with Clients
(McGovern, Lindemann, Vergara, Murphy, Barker and Warrenfeltz with Manchester, Inc.)
