More than 60% of employees who are thinking about quitting do in fact report what they think are NOT good coaches to their managers ~ Zenger Folkman Study
Managing employees has grown to include skillsets of not only making sure employees get the job done, and also that they also thrive in the workplace. Management has grown along with leadership development research and strategies to build successful teams that can be agile and pivot to rapidly changing markets and business models.
Technology is advancing rapidly, with AI being a driving topic across multiple industries. We have seen the disruptive and dynamic nature of how quickly this growing technology creates change in the marketplace. Change creates stress and uncertainty for employees, while simultaneously requiring employees to have adaptive skillsets, and be tech-savvy to stay current with operational and customer demand. Employee skill development is essential for revenue growth and success. As a result, management must approach employee development to include culture, mindset, collaboration, and tactical skillsets.
Coaching and managing are different skill sets. Both are key factors in building a successful team. Let’s take a look at those differences and how you can use them to your advantage to build successful teams that contribute, stay motivated, and productive, and help raise the company’s revenue collectively.
Understand the Difference Between Managing and Coaching
Managing is part of a leadership strategy. It is directive, results-driven, and involves delegating and monitoring work that must be done to meet organizational goals. It uses data, monitoring, and key performance indicators, and focuses on results that must be produced by individuals and teams to ensure successful strategy implementation.
Coaching is also part of a leadership strategy, but it focuses on the team member developing skills and competencies, rather than only focusing on the tasks that must be completed. It becomes about the personal and professional development of the individual. Individuals who grow, build skillsets, contribute and collaborate at work are productive team members who support the overall success of the organization. Coaching emphasizes 2-way communication.
Why You Want To Have A Coaching Mentality
Choosing a coaching mentality over managing employees grows a healthy company culture. Problems get resolved fast because communication between leadership and employees is stronger. Providing clear and effective feedback, and establishing cooperative expectations shows employees you are invested in their success. There is clarity in instruction, employees feel listened to, and validated and their contribution is respected above just getting the job done. Coaching trains managers and leaders to adopt a positive approach to handling performance issues.
Successful coaching inspires others. People see their individual greatness and their contribution to the whole, they feel they are a part of a community when they go to work each day. The resources and support are at their fingertips which helps them feel committed to the company and their teams’ success.
Understanding Coaching as a Leadership Development Tool
Coaching has many benefits. It leads to improved employee development through productivity, increased employee engagement and retention, and employees perceive their supervisors as being more effective.
In leadership development, leaders who are open-minded and coachable, are found to be more effective because they value self-improvement, and they seek, respond, reflect, and act as a result of coaching. Coaching benefits both employees and leadership.
Here are 6 ways coaching can be used to develop leaders in your family business
- Enhancing self-awareness and personal growth
- Fostering effective communication and relationship-building skills
- Developing strategic thinking and problem-solving abilities
- Promoting emotional intelligence and empathy
- Cultivating confidence and resilience to navigate challenges
- Elevating employee engagement and motivation levels
How To Identify Ways To Build A Strong Coaching Relationship With Your Employees
There are numerous ways to build coaching into your relationships as a leader and manager. Here are 6 ways:
- Motivating your team – be a source of inspiration, show them you care and want to support them to be successful
- Provide support – resources, training,
- Ask open-ended questions – this will encourage further conversation
- Set goals together
- Encourage your team to think strategically – look at the impact and decision make together not just for the short term, but how to achieve success in the long term
- Be yourself and authentic – this will encourage trust and rapport
Conclusion
Managing and coaching both have roles to play in a family business to reach strategic goals and build success long term for the company. Management is task-oriented, ‘get it done’ thinking. Coaching though, builds and strengthens individuals, teams, leadership, and culture. These are the driving force behind motivation, collaboration, and strong and productive relationships. People can be trained, but communication and fostering an environment and leadership that will be highly effective in building a healthy and growth-oriented business are built through coaching.
Join us this month of August for our Lunch and Learn topic – to talk more about coaching your team to greatness in your family business. Click the link HERE to learn more and join us on Tuesday, August 29, 2023 @ 12 pm EST.
Next month’s Lunch and Learn topic for September will be hosted on Tuesday, September 26th at 12 pm EST. We will be talking about How To Empower 1:1 Meetings Between Direct Reports And Their Managers/Supervisors. These meetings provide the opportunity to give and receive feedback. We will discuss both ways to evaluate the effectiveness of the current approach and ways to increase the impact.
