Corporate coaching is a growing industry—58% of organizations say they have increased their use of coaching in the past year.
In the UK, four years ago, only 4% of small businesses were using coaching and now, 20% of small businesses are using coaching as part of their growth strategy. In another international study, 79% of medium and large businesses in the UK reported using coaching.
In the US, in a survey sample of 101 companies using coaching services, 58% of the companies were small and medium-sized companies, government agencies and non-profit organizations.
The use of coaching is increasing as it is a cost-effective means of achieving extraordinary results for teams and businesses.
There is growing evidence that coaching is one of the most effective ways to develop people and improve business performance.
A study of Fortune 1000 companies using coaching found that the following percentage of CEOs reported the following benefits from the coaching they received:
- Productivity increased (53%)
- Increase customer service (39%)
- Increase talent retention rate (32%)
- Cost reduction (23%)
- Net profit increased (22%)
The same survey found that individuals who received coaching saw improvements in:
- Working relationship with their direct reports
- Working relationship with their manager
- Team building
- Reduce conflict
- Business relationships with customers
So in Vietnam, how will coaching benefit young leaders and Vietnamese businesses?
- Develop leadership skills: Coaching helps young leaders master management and leadership skills, from time management to effective communication, goal setting, and conflict resolution.
- Self-improvement: Coaching promotes the personal and professional development of leaders. It helps them identify their own strengths and weaknesses, activating their internal potential in a powerful way
- Problem solving: Coaching can help solve challenges and problems that businesses are facing. This can help increase productivity, improve decision making, and reduce risk.
- Adaptability: The business market is always changing, and coaching helps young leaders develop the ability to adapt and innovate in a rapidly changing environment.
- Team building: Coaching can also help leaders build and develop their team members. This can increase productivity and create a positive work environment.
Investing in coaching can bring great benefits to young leaders and businesses in Vietnam, helping them grow and prosper in an increasingly competitive business environment.
With a picture full of potential like today, we will certainly bring coaching to all businesses in Vietnam in the near future with the desire to build & develop a team of young leaders, showing them understanding. about the importance of coaching in higher positions.
Not only that, the team of consultants also needs to be equipped with Coaching skills to help find suitable solutions for the business. In September 9, as part of the project to enhance the competitiveness of the Vietnamese private sector (USAID IPSC) chaired by the Department of Enterprise Development (AED) under the Ministry of Planning and Investment with sponsorship from the Agency United States International Development (USAID).
For the first time, the ICF Standard Leadership Coach training course was conducted with leading experts from Australia, Thailand and Vietnam for more than 50 consultants selected from hundreds of famous consultants. experience in Vietnam. This is a clear confirmation of the importance of Coaching in improving performance and increasing competitiveness for individuals and businesses.
Especially in the current difficult situation, unleashing the internal resources of today's human resources team is the key to helping businesses overcome challenges and move forward.
The previous approach was to bring knowledge and experience from outside into the business. Now, Coaching capabilities will bring knowledge and know-how from within to combine with knowledge and experience from the outside to help businesses create breakthrough solutions.
Coaching not only creates personal development, but also contributes to building a working environment that promotes learning, enhances personal responsibility, self-development and creativity in the organization.
Google: Google has paid special attention to coaching culture. They developed a program called “G2G” (Google to Google), which allows employees to work together as coaches. This has created an environment that fosters self-development and a willingness to learn.
The Home Depot: Retail company The Home Depot has adopted a strong coaching program within their organization. They promote coaching between employees and managers, helping to improve leadership skills and create a positive work environment.
Unilever Vietnam: In Vietnam, Unilever has applied coaching to develop leadership and encourage continuous learning within the organization. They have established a coaching program for young employees and senior leaders to promote career development and create a learning environment.
Microsoft: Microsoft has a robust coaching program in which managers are regularly coached to develop leadership skills and support employee growth. This helps build a culture where growth and learning are prioritized.
IBM: IBM has implemented coaching programs for leaders and managers globally. This has created a work culture where personal development and the ability to learn are highly valued.