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New Year's Resolutions for Your Home Business
"Happy New Year" may be the most positive phrase in the English language. For those whose fortunes were less than they desired over the last twelve months, the new year is an opportunity to close the book and start afresh. Those lucky souls who came...
Talk the Talk
Word Count: 438 Summary: 5 practical ways to improve your communication skills. ============================================================================ Talk the Talk Do you know why toddlers throw temper tantrums? They are angry, they are...
The Business Meeting
You've received an invite to attend a meeting. You're not exactly anti-meeting. In fact, you can recollect attending one or two meetings in your lifetime in which something was actually accomplished. "I wonder if this meeting will be like that," you...
The Perfect Project Manager
I've been working in the computer industry now for over 23 years. During that time, I've had the unfortunate circumstance to work under many incompetent project managers. I don't mean the word incompetent as an insult - it's just that in the...
What She's Got: Five Essential Traits of Web Wonder Women
Businesswomen, especially those women who own their own web based businesses, possess characteristics that help them succeed, sometimes despite long odds. Lynne Klippel spent the last year interviewing twenty- six of the internet's most successful...
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ROI on the 8-Step Coaching Model
Every training program should be examined for cost
effectiveness; that is, the value of the program to the cost of
implementing that program. The 8-Step Coaching
Model taught by CMOE is no exception. The following
story is an example of how one manager determined the worth of
the program.
A National Sales Manager, Jim, contacted me to discuss a problem
with one of his field reps, Fred, who lived in another part of
the country. Fred's performance had been seriously declining
and, despite Jim's best efforts, their relationship declined as
well. Jim was losing patience and was on the brink of firing
Fred. Jim realized that a more structured approach to coaching Fred was
needed, so he asked Fred to fly to corporate headquarters for a
talk.
The first time a manager talks with an employee about his/her
poor performance, it is usually a "watershed" conversation. If
the conversation does not lead to reconciliation, the employee
is likely to create considerable ill-will toward the manager
through water-cooler talk. Meanwhile, the manager may say that
s/he is trying to turn the person around, but actually, the
manager may have closed an emotional door. The manager, tired by
the hassle, may be focused only on getting the employee out of
the organization. Either way over time, the situation will get
worse.
The question then is, "What financially is at stake when an
employee doesn't work out?" In this case, Jim estimated that
with headhunter fees, cost of relocation, plus lost revenue from
no one working the territory, the minimum cost of turnover was
$150,000 not to mention the emotional strain for searching for
the right replacement. Fortunately, by using the steps in the
8-step coaching model of CMOE, we were able to put together
a
plan Jim could use to change Fred's perspective. Over time, Fred
not only turned around but also generated an additional $100,000
in revenue.
So in this instance, what was at stake was really $250,000, and
based on the outcome of a conversation. When you compare the
initial cost of the coaching skills
training program, the ROI with Jim and Fred was tremendous; and
applied over time by the same manager to multiple situations,
the investment becomes even more lucrative.
Beyond the financial considerations, the cultural implications
of effective performance coaching are huge. When management
consistently uses the 8-step coaching model, the
message to all employees is the same: If you're not performing,
then we'll coach you and give you every opportunity to be
successful. Those who can and want to perform get to stay. Those
who refuse to improve will have to go. Gradually this support
creates an assurance that due processes are based on
performance, not on politics or personal preferences. This is a
culture where management's processes and intentions are
transparent for the employee. While the direct payback of
successful coaching can be in
the hundreds of thousands of dollars, the indirect payback in
terms of cultural predictability, retention, and performance is
immeasurable.
About the author:
Todd Musgrove has been assisting organizations in the
areas of Coaching, Leadership, and Operations.
To learn more about CMOE's coaching model and
how it can create a positive impact in your organization, please
contact one of our representatives at (888)262-2499 or visit our
website
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