Tag: coaching and mentoring case study

Best practices for defining organization values

Organization define the core pillars of their identity and principle which affect the way their business is conducted through company values. Each company have individualised set of core values which support the vision and decision-making processes within the organization. These core values have a significant role and are essential and guiding force as the company grows.  

This is the reason why a lot money has been spent on researching the best practices for defining company values and there are two main observations that are emphasised as important: 

  1. The guidelines can only be helpful to some point as each company have their own story when it comes to defining company values. Thereby, there is no right way to do it.  
  1. It does not entail just defining company values but also ensuring these values are in practice throughout the organization.  

It is said that great company culture begins by ensuring that the company values are great. In order to ensure that the company values are great the process of defining company values should be appropriate. One of the most important point to remember is that the process of defining company values should be ideally be independent for each company and this is elaborated further in the upcoming paragraphs.  

Process of defining organization values 

It should be carried out as early as possible. This should be done as it would act as a framework when the company is going through the process of recruitment. It is also important during the decision-making processes. While defining company values, they should be polarized in nature so that it will attract the right kind of employee for the role and weed out those who will not fit in. It is often believed that the process of defining company values should take place while the company is in its initial stages of development.  

While defining company values, it has been proposed that they use bottom-up and top-down approaches.  

For the bottom-up approach, a team was to identify the best exemplars co-workers of the organization and describe the key attributes of that employee. The attributes were then put on a white board and then grouped it into similar categories which gave about ten groups. Then the list is shortened by keeping in mind the core values of the company. Further, this debate was used to start naming and ranking the groups. Now the top-down approach is to be implemented and this is where they are important. While defining company values, they should also be provided by the senior management. However, there might be some issues while a disagreement arises on a value chosen collectively.  

 These two approached create the first draft of the company values. These company values are reviewed and challenged each quarter and read aloud during the meeting each week, create interview questions based on the company values and further incorporate them into activities to ensure they are completely understood and practice the company values.  

It has been found that this generation is too big in number to ignore. The millennials at 83.1 million surpasses baby boomers in 2014 census itself and are said to represent one quarter of the U.S. population. Millennials do give significant importance to company values and in the role of customer and employee, millennials favour companies whose values align with the millennial’s personal values. This makes company values an important part of driving sales and attracting top talent.  

A study found that an average of $7,600 pay cut would’ve been accepted by millennials for a healthier work-life balance, better company culture, career development and a meaningful job which are factors that improve overall quality of life. Defining company values that are strong and solid ensures direction and builds a reputation. It sets the tone for company’s interaction with customers while marketing its products and making important decisions. If company values are taken seriously, it will help in developing a strong brand identity and a cohesive business plan.  

Filed under: Executive CoachingTagged with: , ,

The Importance of executive coaching and mentoring

It happens so often that the terms executive coaching and mentoring are used alternatively but they are rather different from one another.  

Executive coaching equips an individual to deal with confidently and completely with critical near-term issues, aid you to perfect leadership and management skills and is also said to focus on the needs that were recognized in the 360-degree review that was conducted by the coach, the company or an external agent. The focus of an executive coach is on the short-term outcomes. It is designed to achieve the optimum results in a minimum amount of time. Executive coaches are also said to motivate, inspire and encourage while insisting the clients are in lieu with their priorities and objectives.  

Executive mentoring deals with a broader aspect in comparison to executive coaching. Unlike executive coaching, mentors help their clients with the immediate as will as long-term goals that stretch well into the future. Executive mentoring focuses on teaching an individual to how to execute or impart wisdom in using their skills. Mentors provide their assistance in a range of activities that range from personal to professional to ensure their client’s growth and development.  

Efficient functioning of executive coaching and mentoring ensures that employees are provided a platform to learn, connect and grow within the company and to get a boost for their career paths. 

The significance of executive coaching and mentoring is as states below: 

Retention  

Executive coaching and mentoring promote loyalty. This sense of loyalty towards the company or organization develops as commitment and connection felt by the mentees when the mentors help them provide opportunities and mould their careers. Positive work experience is encountered when the employee feels comfortable with the management encourages open communication and this is carried out by executive coaching. The money spent on continual recruitment and training of replacement employees is eliminated.  

Personal Development 

The expertise and knowledge of the experienced employees results in a better efficiency as this may aid the younger and ewer employees to learn the methods of the organization. Executive coaching and mentoring may further guide the employees in become well versed of the expectations of the organization. Coaching, and the boundaries of a trusted and confidential relationships provides a platform for the employees to resolve their issues and concerns. This acts as a benefit to the organization as it aids in the reduction of frustration on a personal level and improves the individual’s job satisfaction.  

Team Efficiency 

Apart form providing individual focus on the employee, executive coaching and mentoring improve the functions of the team, department and the entire organization. As the managers receive executive coaching and mentoring, it helps them identify the weaknesses and strengths of each of their employees. This is so that even when the employees take request vacation or take a sick day, the organization can capitalize on the resources available to ensure that the entire team works efficiently.  

Therefore, we can see that executive coaching and mentoring can provide an array of benefits for the any kind of organization. Thus, the implementation of executive coaching and mentoring in an organization can become an excellent contribution to ensure the overall development of the individual employee as well as the organization.  

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Coaching: A Case Study

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