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5DCM

Developing Coaching and Mentoring within Organisations

CIPD Membership Number 23141918

Introduction

This report has been written to aid the development of coaching and mentoring within a leading banking and financial service company. As public sector organisations implement severe cuts and the private sector faces increased competition, all having to manage 'more with less', an increasing number of organisations are turning coaching and mentoring into their training and development solution of choice. This report will determine the value of coaching and mentoring; highlight some factors to consider when developing coaching and mentoring and show models and methods that may be required to support, deliver and implement the plan. For the purpose of this report all of the coaching and mentoring is conducting ‘in house’ using trained members of staff already employed within the company.

Relative Value of Coaching and Mentoring

Coaching

The relative value of coaching within this financial organisation has the potential to be huge, both in staff development and the overall culture of the business environment. When researching the value of coaching, one can see the following benefits across the branch at all levels:

By Life/Personal Coaching (in order of highest mentions):
• Increased confidence
• Increased self-awareness (through time to think and reflect) • Decision making framework to make (better) quality decisions • Improved time/stress management

By Executive/Personal Coaching clients (in order of highest mentions): • Increased self awareness (leading to increased emotional intelligence) • Increased confidence
• Greater clarity around desired goals and how to achieve them • Improved time management (leading to time savings)

By Career Coaching clients (in order of highest mentions):
• Increased confidence
• New perspectives
• Options on how to deal with situations
• Increased focus

If the counter staff are experiencing the benefits listed above it will generate a more cohesive team ethos. A more cohesive team will work better together and therefore generate more business being directed towards the financial advisors which may then increase the annual turnover for the company.

Coaching Advantages and Disadvantages

A popular trend in coaching is the development of a team of coaches within the organisation individuals who have other jobs, often within human resources and sometimes in leadership positions, who take on the added responsibility of coaching one or more members of staff. Aside from being less expensive than external coaches, internal coaches have the advantage of already understanding the organisation’s business issues and internal dynamics. They are generally aware of the executive’s context: his or her pressures, such as meeting the target for referrals to the financial advisors, and they speak the language of the organisation.

On the other hand, internal coaches usually have less coaching and feedback experience than external coaches, with fewer opportunities to practice and maintain their coaching skills. They may perceive the coaching assignment to be less important than the other work they need to do, and have less time available for coaching. Because they often lack relevant professional training, internal coaches may miss signs of depression, substance abuse, marital decline, and so on.

In terms of the counter staff the ideal candidate would be the line manager as they will generally know the individual and will have already built up some form of working relationship. They can add all of the characteristics expected of a good coach as well as having the relevant business knowledge of referrals.

Mentoring

Using the successful counter staff to mentor the more reticent staff, if done correctly, will produce a dedicated counter workforce who, not only assist customers with the routine...
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