Coaching Changes You - Coaching is the Way Forward
Corporate Leadership Council Employee Engagement Survey, 2004
Is UK sales and service line management working?, Prosell Research 2004
Frederick F. Reichheld, The Loyalty Effect, Harvard Business School Press, 1980
Right Management, Employee Engagement, Maximizing Organizational Performance, 2009
Sales Executive Council (SEC), Building Solutions-ready Sales Managers, 2005
The ROI of Coaching:
Performance is Achieved
A Sales Executive Council (SEC) study (Building Solutions-ready Sales Managers, 2005) revealed that sales representatives who regularly received more than three hours of coaching a month achieved 107% of their sales targets while those who received less than two hours a month underachieved their sales quotas by 10%. The bottom line is that coaching can improve individual and organization performance.
Customer Satisfaction is Improved / Enhanced
In the organizational literature there has been documented to be a relationship between employee satisfaction and customer satisfaction. Additionally, 61% of employees felt that their manager’s behavior had a direct impact on their delivery of external service to their customers. The bottom line is that coaching can improve customer satisfaction, service and value.
Employee Engagement / Commitment is Enriched
The data has varied in different studies but in one UK study, only 33% of employees feel engaged at any one time with their current job and their current employer. This is key since employee engagement impacts overall organizational performance (Right Management, 2009). Coaching can improve individual performance leading to greater or improved overall organizational performance (Corporate Leadership Council Employee Engagement Survey, 2004). The bottom line is that coaching can improve employee engagement.
Employee Retention is Improved
Retention of employees makes great business sense. Loyal, inspired, motivated, and engaged employees can deliver superior customer service and value (Reicheld, 1996). Coaching can improve employee retention.
The Way Forward Continued...
How to Improve Sales Performance?
The data seems clear, coaching explains a 17% performance difference! Therefore, powerful coaching is the potential difference between sales reps making or not making goal.
Why does Sales Coaching Need to be a Top Priority? Because sales managers regularly underperform in two critical skills: (1) Developing and (2) coaching sales reps
When sales training was complemented by in-field coaching by the manager: Productivity quadrupled from 22% to 88%
77% of coaching effectiveness can be attributed to 8 manager or coach's actions:
1) Build strong relationships with direct reports
2) Be dedicated to improving team results
3) Target the best coaching opportunities
4) Spend 3-5 hours per month coaching sales representatives for improved performance
5) Coach the core for performance and the stars for retention
6) Customize the coaching approach to the individual (there is no one size fits all)
7) Deliver coaching in person and in the moment
8) Recognize the role that coaching plays in job and customer satisfaction and overall organizational performance and leverage its full value to benefit the individual, the team, and the organization.