Posts Taged productivity

Want Your Employees to Stick Around? Try Coaching

Coaching benefit: employee retentionWhen you invest in a coach, you want to know that coaching is going to matter.  You make a choice to spend invest in your future.  You could take classes at a community college; you could hire a consultant to tell you what to do; you could just keep doing what you’ve always been doing.  Instead, you are investing in a coach.  While no coach can give you a concrete guarantee of the results of coaching, there are some good indications that it’s worth your investment.

You get your money’s worth. On the Ultimate Coach University website, we provided some of the benefits found in the studies of the return on investment in coaching. The numbers are astounding.  The International Coach Federation documents a return on investment from some companies of 50 to 1.

One of the benefits to having a coaching culture that isn’t always recognized is retention.

Coaching improves retention.  When you ask people how coaching changes their outlook, you will hear them say things like:

  • I felt heard
  • I felt more in control
  • I figured out how to get along with my director.

People who experience feelings like that are more likely to stay around.  They don’t feel oppressed by their surroundings. Interestingly, employees who work with the coaching client also are more likely to stay.  I’ve coached many executives in direct selling companies.  When I talk with their direct reports, I commonly hear them talk about how their boss is easier to work with and more pleasant to be around.  They will also add that they are feeling more productive.

One of the more famous studies on ROI is from MetrixGlobal, which found a return of 5 to 1 for every dollar invested. They found that ROI was boosted even higher when you include the financial benefits of retention.  Retention boosts the ROI of coaching by an addition 2.5 to 1.

Numbers like these make coaching sound too good. I wouldn’t believe them either if I weren’t a coach and have the opportunity to talk with companies that have a coaching culture.  They think it’s worth every penny.

I love coaching.  I love hearing people reach a new awareness of the future they can create.  I may never get to see the results of the coaching, and I’m okay with that because I know that it’s making a difference in their life.

 

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The Secret of Mastermind Groups

MastermindWho wouldn’t want to be in a mastermind group? And what coach wouldn’t want to work with one?  The name says it all:  MASTERMIND; complete understanding; supreme oneness with anything that matters; peace with the universe.  I’ve wanted to coach a mastermind group for several years but couldn’t get past the planning stage.  I was going to have to describe to possible participants the characteristics of a mastermind group and the reasons to be in one.  What makes a mastermind group unique and why is it better than regular group coaching?  I couldn’t figure it out.  Then the light bulb moment hit.  I was over-thinking it all.  (Isn’t there something ironic about making that decision after 14 months?)  Here is the difference:  The core distinction between group coaching and mastermind group coaching is a single word, “mastermind.”  This word creates three differences.

Mastermind groups are synergistic.  As the group participants come together in a mastermind group, they create a power greater than that which can be explained as simple group dynamics.  They create a mastermind.  Napoleon Hill describes it best, “You may catch a significant suggestion from this statement: No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind.” For Hill, this is a spiritual energy that “becomes available to every individual brain in a group.”

Mastermind groups are cooperatively competitive. While that sounds like a contradiction in terms, it’s not.  Every participant in a mastermind group plays full-out and in doing so, pushes everyone else to do the same.  The best competitors in the world will tell you that the competition is really within them.  It’s not a matter of beating the other person; you have to beat yourself.  When you join a mastermind group, you agree to do that: to not hold back; to push everyone else so that they will push you; to cooperatively drive everyone to their best level.  Ginger Cockerham refers to this concept in her book, Group Coaching: A Comprehensive Blueprint.   She writes, “As the group evolves from an unformed group of individuals seeking personal achievement and becomes a formed group of interactive and interdependent members, participants understand that they have a vested interest in supporting and encouraging other members to achieve the outcomes they want.”

Mastermind groups are highly creative. Regular coaching depends primarily on the creativity of one person—the one being coached.  Most group coaching does the same thing.  A mastermind group is different.  When you participate in a mastermind, you have the opportunity to offer alternatives, weigh ideas from the other participants. Napoleon Hill talks about Andrew Carnegie, who surrounded himself with about 50 men in his mastermind so that he had plenty of people to weigh in with their ideas.

Once I developed a clear mindset of the mastermind, I began to understand how my role as a coach shifts.  Here’s how:

  • My job is to build the mastermind.  When I grow the mastermind, everyone in the group benefits.
  • My job is to coach less and facilitate more.  My role is to allow others to coach, challenge, and innovate.
  • My mindset requires me to stay coach-like without behaving like a coach.

Please react.  I’ve you’ve been in a mastermind, what made it different for you?

 

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