I know that at the moment many companies are keeping costs down and not doing any ‘additional’ spending. Coaching is sometimes thought of as a nice to have but if weighed up against a recruitment fee for a new senior manager it really becomes quite cost effective. After all, it’s difficult to get a recruitment fee at less than 20% of the salary involved, coaching is less than half of that figure in most cases.
Sometimes the talent you have in house may just have got a bit jaded with the job but knowing their company values them enough to invest in coaching for them can give a real boost to an employee, making them feel their potential is recognised and just needs coaxing out.
So before recruiting it’s actually worth evaluating if you have someone in house who can be promoted into a position you want to fill – they may be more ready than you realise and probably know plenty about the company and how it operates – and have positive ideas – so if they step into a new role they can hit the ground running.
That’s where coaching also helps as they adjust to their new role, if you’d like to know more about time coaching’s approach, have a look at our website www.timecoaching.org