In the US, three to 4.5 million employees quit their jobs every month, and a third of them after only six months. With the Great Resignation, companies are now offering better salaries and employee perks and building a more pleasant workplace to retain their talent.
Employers should invest in learning and development to keep Gen Z'ers happy at work. Our data shows that 8 out of 10 employees are more loyal to their employers when coached, which is supported by 76% of Gen-Zers.
If you manage an organization, you know how important it is to maintain your star performers. An effective retention plan minimizes disruptions to business productivity and reduces the need to hire new employees. It might be our bias, but coaching is a great retention strategy for Gen Z'ers and millennials for so many reasons. Three examples are listed below:
Getting coaching assures career advancement
A career-free environment is only appealing to some employees. But, they are more likely to leave without a clear path. As many as 82% of employees would quit because of no progression. This can be prevented via executive coaching and skills development training, as employees would have the chance to:
Improve their employability
Ability to navigate a brighter future for themselves
Have the opportunity to reap the benefits of a higher company position
Coaching increases loyalty
As an employer, you can secure employees' loyalty by taking an interest in their professional development. When they know you care about their futures and career needs, they are likelier to stick with you.
Our data show that 77% of employees are more loyal to their employer following their coaching experience. The same could also be true for you after using our coaches. Investing in coaching shows your employees that you want to see the best in them. As their performance levels rise after coaching, they will also see the best in themselves.
Coaching Programs provide a customized experience
A huge benefit of learning program is the ability to customize the experience for every type of worker and skill set—no more roping employees into a room to watch an outdated and irrelevant training video. Instead, cohort based coaching can provide specific projects to each employee. While working on these projects, employees are both gaining new skills and completing tasks that are relevant to their positions.
This level of customized, engaged learning will pique employees' intellectual curiosity, further motivating them to complete the training successfully.
Coaching offers a deeper level of learning
Coaching isn't only about improving an employee's skills in the workplace. It can take on a deeper level, as individuals can learn more about themselves, their worth in an organization, and how they can shape their personalities for success. If there is any area of their life that they are not happy with, they can be shown ways to improve matters for themselves.
Coaching can also help employees become aware of blind spots in their development. There could be reasons they need to develop; by becoming aware of these, employees can apply what they have learned in the real world. Through building awareness, individuals can overcome their unknown weaknesses and become stronger and more confident. They will begin their journey into leadership by learning the skills needed alongside the personality traits that will make them succeed.
Employees who are given these learning opportunities will see the value in remaining with their employer. They will find the spark in work again, have more motivation to turn up each day and have greater hope for their futures.
Employee retention rates may be low, but you can turn these around in your organization. Boost your team's satisfaction, engagement, and retention with The Start-up Talent's High Performance Coaching Academy (R). We've built this program to fit into today's working life. We've redesigned leadership coaching for the modern age to help transform people through affordable, scalable, and high-impact solutions.
To learn more visit: https://www.thestartuptalent.com/highperformance or book some time with our team
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