PART 2

Creating a “Coaching Mindset”

In our last column, we predicted that as the economy continues to improve (and it is improving, albeit slowly with much uncertainty remaining) turnover of key employees would become a major agency problem as dissatisfied staffers search for greener pastures. The time to pay attention to employee retention is now, we said, not when times are booming.

We discussed the importance of creating a new culture of leadership, — a coaching mindset — focusing on the needs of your “stars” as the primary way of keeping them committed and motivated to stay with you. When all is said and done, creating a coaching mindset means creating an environment within your firm that encourages deeper, more meaningful communication among your employees and to your employees. It means helping your star performers understand themselves and their colleagues better so they not only improve their performance, but improve their lives, as well. That’s motivating!

Here are some tips on creating this new culture of leadership in your firm.

First, consider having your star performers take a simple behavior assessment. The DISC is one type of assessment, which is now being increasingly used in corporations and professional service firms. Properly administered and reviewed, assessments serve a number of purposes including:

1. helping employees understand their own strengths and behavior tendencies;
2. helping management understand how their staffs tend to work and relate to others in the firm and use their strengths strategically; and
3. helping the management or account team improve working relationships leading to greater understanding, increased collegiality and improved performance.

We know of one firm, which started the assessment process with the CEO and President and has now extended it to the next level of management, as part of an ongoing coaching program. The CEO now talks openly about creating a coaching culture in the firm – and that is an empowering statement to its employees.

Second, take a new, hard look at your performance review process and consider reorienting its emphasis from performance to career development. Help your key people understand what they need to do to get to the next level in your firm. A well-done career development review will reveal key needs and desires, facilitate career pathing and create a roadmap for promotion and new responsibilities. Make career development reviews and ongoing process, not just once a year. If you’re concerned about motivating your stars, think career development rather than performance.

Finally, be creative when it comes to training and development. Though you may have had to cut back on staff training, you can implement innovative programs that address some of the concerns so important to your key employees. Subjects that firms are finding important these days are leadership and management development, work/life balance, and team dynamics.

A commitment to creating a new culture of leadership will demonstrate to your “stars” that you really care about their career and their lives. People want to work for those who sincerely care about them, and isn’t that what motivation is all about?

CLICK TO READ PART 1