Accelerate Emerging and Existing Talent with Coaching
The impending retirement of Baby Boomers is placing tremendous pressure on organizations to develop employees into qualified leaders at a faster rate than ever before. In a study conducted by Human Capital Institute and the University of North Carolina Kenan-Flagler Business School, 85 percent of organizations cited an urgent need to accelerate the development of their leaders.
However, our research shows the majority of companies today still struggle to execute in this regard primarily because their organization has no formal leadership development program in place or lacks an objective way to measure leadership competencies. Furthermore, companies that invest in leadership development programs do so primarily at the executive level, leaving first- and second-level leaders largely underserved (Bersin).
To ensure organizations are equipped with the talent to meet future business needs, it is critical to adopt strategies that elevate and accelerate incumbent talent. One way to do this is coaching — helping the individual clarify and move toward a specified goal, higher level of job performance, improved state of being, or other positive outcome. A coaching process that employs specific, progressive steps can help transform high potentials into high performers faster and build a strong talent bench from which organizations can source going forward.
So how can organizations accelerate talent development through effective coaching?