Coaching is the one component of employee retention that is most overlooked and underused. The cost of replacing a high level executive now approaches almost 50% of their salary, not including any additional compensation packages. In other words, to replace a $200K salaried executive it will cost you $100K. Coaching for Performance costs for that same executive costs a company approximately $9-$12k per year. As reported in the article, “Can Coaching Help Your Business” (TheStreet.com (02/24/09), investing in executive leadership development can bring about a positive impact on an organization when it is particularly needed. Your under performing executives or other personnel in key roles can benefit from working with a one on one coach.
Innovative Leadership’s coaching program provides certified coaches who have extensive management experience and can relate to the pressures being placed on your leadership in these tough economic times. Our coaches use a unique process to get results while coupling the achievement with enhancing leadership skill-sets by incorporating Leadership Training into the one-on-one equation. We work with your leaders to develop their leadership competencies and skill-sets to compliment their decision-making abilities, and interpersonal responsiveness to their board and management team, while getting them to focus on the metrics that make a difference. Achievement is the result of effective planning and the proper implementation of a plan while monitoring the progress so that course corrections can be made along the way. Our Coaches directly work with you to design the plan, implement the strategy, formulate the metrics for success, and work with you to monitor the results.
You’re losing valuable money when an executive is replaced; stop this vicious circle with Coaching and Training. It really is priceless.
Thursday, April 23, 2009
Friday, April 17, 2009
HR is Missing a Great Opportunity
Isn’t it about time that HR Managers change the hiring and selection event to a process that can provide a significant return on investment for their company?
Now, the question is what is the best way to start developing a process?
These 5 points will help guide you to a well planned out process.
1. Evaluate each job position and get familiar with the roles and responsibilities associated with the position. Know the skill sets and behaviors that need to be exhibited on a daily basis for someone to exhibit outstanding performance in that position.
2. Select the Assessment instrument or series of instruments that supports your needs. Assessment instruments are not usually a one-size fits all type of product. When selecting, make sure that it is appropriate for the company’s needs and will produce the necessary ROI.
3. Develop a process that provides consistency in application, scoring,
utilization, monitoring, and results.
4. Develop the metrics that “matters most” to the organization and provides the desired results
5. Learn to evaluate the results and outcomes and use the data to drive improvements in the process and the ROI.
One of the greatest challenges for all HR professionals is to create a partnership with the CEO that drives productivity and performance to align HR with the business strategy. The implementation of a cost-effective hiring and selection process that can also contribute dramatically to the bottom line might just be the best way to enhance that relationship.
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Leadership Newsletter (April Issue) by Innovative Leadership
Richard Hohmann is a management consultant who focuses on people development and organizational effectiveness using consultation, training and development including the use of assessment instruments, and coaching. He is a partner of Innovative Leadership of the Delaware Valley, LLC. More information and contact information can be found at www.ILDV.org.
Wednesday, April 15, 2009
Coaching For Results
In a most recent survey, thousands of employees were asked “what they planned to do differently in 2009?” and here are the results:
I can visualize that every executive, manager, supervisor or employee will be getting up earlier and rushing to the gym to knock of the weight and trying to tone up for the “bikini” season, then rushing off to work to give everyone the appearance that they are working harder than they did last year even though some of that energy will be spent looking for new employment opportunities, and then scurrying home to have dinner with the family and bathe the children, then hop in bed by 9 to get ready for the next day. WOW!
It really sounds and feels stressful to me. How can someone do all that and not get stressed out.
Hiring a Coach will help you formulate a “game plan” together that will enable you to reach your goals in a shorter period of time without as much stress.
Innovative Leadership Coaches for Results!
- Most will be focusing on themselves and trying to “get fitter” (53%)
- Most will be scheduling more time with family and friends (24%)
- Many will be looking for new employment opportunities (13%)
- Some will try to work harder (6%)
- And the minority will do nothing differently in 2008 (4%)
I can visualize that every executive, manager, supervisor or employee will be getting up earlier and rushing to the gym to knock of the weight and trying to tone up for the “bikini” season, then rushing off to work to give everyone the appearance that they are working harder than they did last year even though some of that energy will be spent looking for new employment opportunities, and then scurrying home to have dinner with the family and bathe the children, then hop in bed by 9 to get ready for the next day. WOW!
It really sounds and feels stressful to me. How can someone do all that and not get stressed out.
Hiring a Coach will help you formulate a “game plan” together that will enable you to reach your goals in a shorter period of time without as much stress.
Innovative Leadership Coaches for Results!
Wednesday, April 8, 2009
Evaluate Talent from Day One
Where is Your Focus? on Your People or on Your Process?
In a recent article in the Investor’s Business Daily, Kevin Harlin points out that Employment consulting firms say it is vital to track and nurture promising leadership candidates even though the economy is sluggish. Steve Krupp, partner and leader of the executive talent management practice at Delta Organization & Leadership, asserts that if a company fails to engage and communicate its top performers, they might be inclined to depart.
Rather than focusing on your processes, focus on your people. They are your biggest asset. Remember that turnover can cost you double of just one employee’s salary. A survey from Delta found that most U.S. companies fail to monitor their best performers, even fewer communicate with these employees, and few top executives support such initiatives.
PPG Industries, a global glass, paint, and chemical firm, has been tracking its best employees for about a decade. Roughly 30 percent of workers are regarded as top talent, and just 1 percent is deemed suitable for the CEO position. Identified employees get first priority for training, special projects, and responsibilities. Executives also meet with these employees from time to time at informal settings like breakfast or lunch. Global business software firm SAP provides potential leaders with six-month fellowships in another division, typically in a different location, to ensure that these employees have adequate insight into the company.
The above synopsis of the article that appeared in Investor’s Business Daily demonstrates the need to evaluate talent from the first day of hire in terms of recognizing potential and people development as the priority for any organization. I really question whether companies today are focused on their future leadership and understand the need to develop people’s potential.
Innovative Leadership offers an Assessment Process called the Achiever Series that can assist you with people development and also compliment certain aspects of succession planning, downsizing or transformation.
We are a company that is focused on helping companies develop their potential of their people that will result in organizational effectiveness. Please call us at your convenience to discuss our Assessment Processes that can make the difference in the future of your company at 609.390.2830.
In a recent article in the Investor’s Business Daily, Kevin Harlin points out that Employment consulting firms say it is vital to track and nurture promising leadership candidates even though the economy is sluggish. Steve Krupp, partner and leader of the executive talent management practice at Delta Organization & Leadership, asserts that if a company fails to engage and communicate its top performers, they might be inclined to depart.
Rather than focusing on your processes, focus on your people. They are your biggest asset. Remember that turnover can cost you double of just one employee’s salary. A survey from Delta found that most U.S. companies fail to monitor their best performers, even fewer communicate with these employees, and few top executives support such initiatives.
PPG Industries, a global glass, paint, and chemical firm, has been tracking its best employees for about a decade. Roughly 30 percent of workers are regarded as top talent, and just 1 percent is deemed suitable for the CEO position. Identified employees get first priority for training, special projects, and responsibilities. Executives also meet with these employees from time to time at informal settings like breakfast or lunch. Global business software firm SAP provides potential leaders with six-month fellowships in another division, typically in a different location, to ensure that these employees have adequate insight into the company.
The above synopsis of the article that appeared in Investor’s Business Daily demonstrates the need to evaluate talent from the first day of hire in terms of recognizing potential and people development as the priority for any organization. I really question whether companies today are focused on their future leadership and understand the need to develop people’s potential.
Innovative Leadership offers an Assessment Process called the Achiever Series that can assist you with people development and also compliment certain aspects of succession planning, downsizing or transformation.
We are a company that is focused on helping companies develop their potential of their people that will result in organizational effectiveness. Please call us at your convenience to discuss our Assessment Processes that can make the difference in the future of your company at 609.390.2830.
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