Investing in coaching for SMEs. What’s it worth?

 

Valuing coaching in SMEs

I recently completed a programme of coaching for an SME in Yorkshire. I have worked with several of their team members over the last few years. And it has been a real privilege to see these individuals develop as we worked together. I’ve also observed the impacts for the business too. So it got me thinking about what we place value on in a business. Where do we choose to invest? How can a small expenditure on being people-focused have the potential to pay much greater dividends? Just what is the value of investing in coaching for SMEs?

Assessing the ROI

In a challenging economic climate often one of the first things that gets cut in the budget is training and development. Investing in people is hard when you are focused on paying the bills, generating leads and keeping up productivity.

But maybe this is actually just the right time to be focusing on your staff? There is value in developing their skills and confidence For many small businesses, employees are the biggest asset. They are the key to productivity and to generating sales.

Investing in your assets: your people

When demands on staff are high, supporting their wellbeing can pay dividends. Coaching offers them a space for personal development and to reflect and refresh their mindset. Investing in people means investing in the future of your business too. You build the potential to grow and nuture talent internally. In turn building loyalty, reducing turnover and encouraging retention.

The coaching experience

What is important for me as the coach in these business-supported coaching relationships is ensuring that everyone involved understands how we will work together. We focus on openness in setting goals and outcomes through a three-way contracting discussion at the start. This allows the individual and the organisation to set out their expectations, both of the coaching experience and of the support and input required of each other. And we have regular check-in points, again in a three-way discussion space, to ensure that expectations are being met and to find out what else might be needed.

The coaching space I hold for the coachee is confidential. It’s important that they feel they can bring whatever they need to into the sharing. After all our working lives do not exist in a vacuum and very often the barriers to moving forwards or addressing challenges in one space are impacted by what is happening elsewhere for us.

Investing in coaching in SMEs – are you ready?

Whatever business you are in, if like Slipstream Design you think this is a way of supporting your staff that you would like to invest in, please get in touch for a no obligation discussion with me.

 

The Authentic Spark has coached several of our team over the past few years. We have seen the value of Sarah’s coaching in the development of individuals’ confidence and their ability to reflect and develop self-awareness. Coaching has allowed them to transition into greater responsibility and to develop their relationships with team members. Even as a small business investing in coaching with The Authentic Spark is a great return on investment.
Slipstream Engineering Design