Improve senior leadership retention and effectiveness with one intervention

Organisations are facing a challenging landscape due to the Covid-19 pandemic, economic repercussions, and the impact of Brexit in 2021. The cost of living crisis in 2023, along with a significant rise in energy costs, has further exacerbated issues, causing significant disruptions and changes in senior leadership roles across the UK. This has led to unprecedented levels of CEO turnover, adversely affecting performance, values, culture, stability, and morale.

To address this trend, organisations are increasingly turning to coaching to support employees and senior leaders during transition periods. However, one common pitfall organisations face is the misuse and overapplication of the term ‘coaching’ by leaders. Often, line managers incorrectly label routine interactions as ‘coaching,’ lacking the application of effective coaching techniques or support for participants.

Invest in coaching

Presently, only 6% of organisations have full-time qualified internal coaches. Consequently, investing in external, professionally qualified, and experienced coaches yields swift results. Establishing a psychologically safe environment to explore senior leaders’ emotions can foster a positive attitude towards change, promote a growth mindset, and devise practical strategies to build resilience for both leaders and their teams.

• Investing in coaching for senior leaders can deliver measurable business improvements and a positive return on investment. According to a report from the Investment Banking Firm FMI, coaching has a high return on investment, yielding qualitative results across various levers such as increased revenue, productivity, engagement, and retention.
• A recent global study found that coaching demonstrated a 788% return on investment due to increased productivity and employee retention.
• The International Coaching Federation reports that coaching leads to a 70% increase in individual performance, a 50% increase in team performance, and a 48% increase in organisational performance.
• Independent research from De Haan (2021) concludes that coaching makes a significant difference, with coachees faring better than about 72% of the control group that did not receive coaching over the same period.

Explore the benefits of professional coaching

In conclusion, investing in professional coaching for senior leaders can achieve stability in retention and engagement scores while providing crucial emotional support to leaders to better support their teams. Get in touch to explore how professional coaching can support your senior leaders.