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Brand Your Consulting Brilliance
Today's competitive marketplace for consulting services is no longer responsive to the marketing strategies that worked in the past. The services you provide should speak volumes about your consulting business. Think about what happens when you...
Coaching Packages Benefit the Coach & the Client
Do you have trouble retaining your ADD coaching clients? The
solution to this problem may be to offer your services as a
"coaching package."
Many ADD coaches charge clients per individual session, which
works just fine if your clients are...
Create a Business You Love
So you have entrepreneurial aspirations, but you’re stuck in a job working for someone else. You wake up, commute to work, work hard, pay your bills and then come home exhausted. You repeat the pattern for another four days, becoming increasingly...
Ethics in Business... A Lost Art
While watching Face the Nation one Sunday earlier this year, Bob Schiffer discussed the airline industry, his mother and ethics in business. Like Bob, I think it is a sad commentary today, that we have to police businesses. Whatever happened to...
Realistic Goals...How To Set Them and Why
So many people want to start a business today and be rich tomorrow. Sorry, people it doesn't happen that way. If it did, everyone would do it. There is no free lunch...it takes hard work, determination and realistic goal setting.
Think...
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ROI on the 8-Step Coaching Model
Every training program should be examined for cost
effectiveness; that is, the value of the program to the cost of
implementing that program. The 8-Step Coaching
Model taught by CMOE is no exception. The following
story is an example of how one manager determined the worth of
the program.
A National Sales Manager, Jim, contacted me to discuss a problem
with one of his field reps, Fred, who lived in another part of
the country. Fred's performance had been seriously declining
and, despite Jim's best efforts, their relationship declined as
well. Jim was losing patience and was on the brink of firing
Fred. Jim realized that a more structured approach to coaching Fred was
needed, so he asked Fred to fly to corporate headquarters for a
talk.
The first time a manager talks with an employee about his/her
poor performance, it is usually a "watershed" conversation. If
the conversation does not lead to reconciliation, the employee
is likely to create considerable ill-will toward the manager
through water-cooler talk. Meanwhile, the manager may say that
s/he is trying to turn the person around, but actually, the
manager may have closed an emotional door. The manager, tired by
the hassle, may be focused only on getting the employee out of
the organization. Either way over time, the situation will get
worse.
The question then is, "What financially is at stake when an
employee doesn't work out?" In this case, Jim estimated that
with headhunter fees, cost of relocation, plus lost revenue from
no one working the territory, the minimum cost of turnover was
$150,000 not to mention the emotional strain for searching for
the right replacement. Fortunately, by using the steps in the
8-step coaching model of CMOE, we were able to put together
a
plan Jim could use to change Fred's perspective. Over time, Fred
not only turned around but also generated an additional $100,000
in revenue.
So in this instance, what was at stake was really $250,000, and
based on the outcome of a conversation. When you compare the
initial cost of the coaching skills
training program, the ROI with Jim and Fred was tremendous; and
applied over time by the same manager to multiple situations,
the investment becomes even more lucrative.
Beyond the financial considerations, the cultural implications
of effective performance coaching are huge. When management
consistently uses the 8-step coaching model, the
message to all employees is the same: If you're not performing,
then we'll coach you and give you every opportunity to be
successful. Those who can and want to perform get to stay. Those
who refuse to improve will have to go. Gradually this support
creates an assurance that due processes are based on
performance, not on politics or personal preferences. This is a
culture where management's processes and intentions are
transparent for the employee. While the direct payback of
successful coaching can be in
the hundreds of thousands of dollars, the indirect payback in
terms of cultural predictability, retention, and performance is
immeasurable.
About the author:
Todd Musgrove has been assisting organizations in the
areas of Coaching, Leadership, and Operations.
To learn more about CMOE's coaching model and
how it can create a positive impact in your organization, please
contact one of our representatives at (888)262-2499 or visit our
website
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