We’ll get right to the point. Providing executive coaching for your company’s high potential millennial employees is a brilliant way to strengthen your organization, replace leaders who are retiring, and retain your best and brightest young talent.
It’s a win-win for your business and for your employees. Here’s how it adds up.
First, studies demonstrate that millennials (the oldest now in their late-30’s) love training and professional development. They truly value professional development and will seek-out companies that offer them opportunities for growth.
Research conducted by EdAssist reported:
- “If asked to choose between two similar jobs, nearly 60 percent would pick the job with strong potential for professional development over one with regular pay raises.”
- “72 percent feel their schooling did not effectively prepare them for the workforce.”
- “58 percent of Millennials expect employers to provide them with learning opportunities relevant to their job.”
- “When asked what would make them stay longer than planned at any given job, 53 percent of respondents say it would be learning new things or having access to learning or professional development opportunities.”
Second, executive coaching provides an impressive array of benefits for your organization:
- As older executives retire, executive coaching for select employees builds a highly-qualified pipeline of future executive leaders.
- Coaching to grow leaders internally means you get a leader who already knows the company, its history, and its culture.
- Coaching improves executive employee retention (for employees you really want to retain).
- It assists with recruitment: organizations that are known to develop and promote from within tend to be much more attractive to millennial job-seekers.
- Providing coaching is a tangible sign of employee recognition.
- Employees perceive executive coaching as a high-value benefit.
In fact, some companies offer executive coaching as a perk, providing a specific number of company-paid executive coaching opportunities for high-potential employees. For more, read Arden Coaching’s article “Offer This High-Value Employee Benefit: Executive Coaching.”
Executive coaching pushes high potential employees to grow professionally and personally, break down the barriers of their corporate comfort zones, and develop the skills required to take them to the next level of leadership. Executive coaches provide awareness, accountability, and direction to help people hone their skills and realize their full potential.
Millennials desire and hold professional development in high regard. Farsighted companies will invest in executive coaching for their high potential employees and emerging leaders.
To learn more about executive coaching and leadership training for your high potential employees, contact us at [email protected] or 646.844.2233.