Most companies are now building new digital businesses to stay economically viable and many respondents recognise that their companies’ business models are becoming obsolete. Hence, when it comes to employee retention and coaching, they don’t have much to do. In this session hosted by People Matters L&D APAC, Tim MacCartney, SVP APAC, CoachHub discusses the impact of coaching and address the future challenges while evaluating ROI in coaching investments  

The path to become a healthy organisation

Tim MacCartney discusses the prevalent working nature of organisations leading to maximum burnout, pointing out by naming Hong Kong, Singapore, Bangkok, Buenos Aires and Seoul as top five overworked cities of the world. 

The question arises, does any organisation’s current L&D plan meet their business's needs? 

Every employee is overworked and exhausted in their quest to attain knowledge and in the company's case, learning that they are missing a lot of important things in life. According to statistics, 86% of employees suggest that they are potentially burnt out and flagging it as a turnover risk. 60% of leaders are saying that they are burned out too and almost half of those leaders suggest they are also expecting to move on from their current environment. 

It is important that forward thinking ideas move beyond the traditional well being ideas to sustain performance for the people and the organisation. Points that should be introduced and are accountable for HR purposes include the right kind of mindfulness, critical thinking and employee welfare. 

MacCartney emphasises that there is a need for a communication plan to open the employees’ mindset. Executing the change management plan through coaching is an extremely powerful tool, especially when it is part of a transformation effort early on, which would help if companies can engage people through a coaching environment. 

Explosive growth of Digital Coaching

MacCartney mentions Josh Bersin’s article in which he explained that companies are finally waking up to the need to offer a differentiated and unique and value adding experience to their employees. 

For too long, L&D teams have been delivering traditional modes of learning and training.

In the new world of work, coaching is a partnership. It's a partnership with clients to help them reflect on themselves on their situation and context to identify new insights and actions to unlock potential to enhance wellbeing and to improve performance. Digital coaching takes it to the next level. It is a technology based live coach to coaching collaboration enabled by secure digital communications. It's a safe space, hence when delivered digitally needs to be encrypted and meet all the security corporate requirements in order for it to be safe in scalability because it's delivered by a tech platform.

Digital coaching will impact more people, which in turn means it can drive more sustainable results throughout your organisation by stakeholders. The confidence while in coaching increases in employee engagement. It allows you to attract and retain some of the top talent because they are feeling invested and helps you develop a more resilient workforce.

How organisations can apply a holistic approach to measure the ‘Rate of Coaching Investment’

MacCartney shared that the traditional method to calculate ROI is :

ROI = {[Benefits of Coaching - Cost of Coaching ] / Cost of coaching } x 100

But the modern idea that organisations can work on is that ROI has to go beyond the numbers to actually gauge what kind of interest is worthy. 

MacCartney introduces The Coaching Value Chain which includes :

1. Inputs - Includes the client and coaches, readiness and motivation
2. Outputs - Employees reaction to coaching, learning and behaviours
3. Results - Performance by individuals and teams
4. Value Creation - Increase in employee retention

MacCartney concluded his session by talking about how the deriving value and purpose from these methods can support organisations in employee retention and engagement from employees.