You will be creating a 3-5 minute video for LinkedIn Learning called “Why Career Conversations Matter” that is focused on convincing skeptical managers that coaching their team members on their career is as important as hitting targets related to the bottom line. You want to see specific, convincing statistics of how career coaching by managers improves employee retention, happiness, engagement, tenure, sales, performance and other metrics. The research should preferably be performed by reputable business publications like Gallup, Inc and HBR.
- Employees are three times more likely to be engaged when they have "regular and meaningful" conversations with their managers.
- According to Gallup, highly engaged business units achieve a reduction in turnover from 24% to 59%, they increase productivity by 17% and reduce absenteeism by 41%.
- A study by Deloitte found that millennial workers who plan to stay with their employer for more than five years were 68% more likely to have a mentor than not.
- Employees at companies with strong coaching cultures are 62% more engaged than those in organizations that do not have a strong coaching culture.
- As much as 80% of professionals that received coaching reported an increase in self-esteem, and 63% saw their general wellness increase.
- According to HBR, coaching is an "essential tool for achieving business goals".
- Managers who coach regularly describe tangible benefits and two-thirds of employees who receive coaching say it improved their satisfaction and performance.
PROPOSED NEXT STEPS
We suggest continuing this research by finding 6-8 additional stats around the effects career coaching can have on a company's bottom line and employee satisfaction. (3 hours, $87)