Nearly 93% of employers would offer coaching to ALL employees if money or resources were no object; issues with pricing and restrictive models prevent organizations from doing so
SAN JOSE, California – May 9th, 2022 – Randstad RiseSmart, a leading specialist in worklife coaching and career transition, today announced the release of the worklife coaching report 2022 - retention through coaching that validates the view that democratized coaching can become the enabler of the ‘Great Retention’ for HR teams by improving priorities such as internal mobility, career development, employee engagement, onboarding, inclusion and ultimately retention. And, in doing so, help inspire and support possibilities for employees at every stage of their worklife.
The worklife coaching report reveals that nearly 90% of employees would prefer to change roles in the next 12 months, with the employee-driven Great Resignation continuing apace. The report, which surveys the opinions of more than 500 employees and 260 HR decision-makers and people leaders, reveals that coaching is already a top priority for nearly three in ten (29%) organizations worldwide. Insights from the research show that organizations of all sizes seek to gain momentum, extract themselves from the turbulence in the talent market, and build an employee experience and workforce that is fit for the future.
The report shows 93% of employees see coaching as very or extremely valuable, and 99% of employers see coaching as having a positive or very positive impact on the wider business. And, of the employees surveyed that have had coaching, the experience is almost wholly positive (97%), with benefits cited as more confidence, improved communication, better ability to lead, promoting internal mobility and improved engagement in the organization.
HR teams now consider coaching an essential part of corporate strategy. The traditional coaching industry is a $17.5 Billion market. It’s an area of the HR industry that has many providers but is ripe for disruption due to barriers that prevent coaching being made accessible to all employees in an organization. RiseSmart’s recently launched worklife coaching offering has directly addressed these challenges with its combination of technology and human touch solutions and flexible payment models.
Commissioned by RiseSmart and conducted by F’inn, the report also found that coaching is so impactful and valued by employees that 9% of those surveyed are self-funding their coaching as their employer hasn’t supported them. Some 20% of Gen Z and Millenials are financing their coaching experiences entirely by themselves. Over three-quarters (78%) of those who paid for coaching had either been refused outright (45%) or had felt ignored or dismissed by their employer.
“HR leaders globally are stuck in the turbulence of the Great Resignation and looking for a way out to give the business stability to build on,” said Dan Davenport, CEO and co-founder of RiseSmart. “Coaching, democratized to give access to all employees, is not just popular with employees, but organizations see it as a valuable asset that contributes to business performance and growth.”
The report outlines the seven major challenges facing HR teams looking to adopt democratized coaching, which include: perceptions of privilege, generational distinctions, gender differences, uptake and engagement issues, funding matters, establishing a clear return on investment, and resourcing variables.
Davenport continues: “It’s clear from the report that even when an organization has negotiated the initial hurdles and taken a coaching-centric approach to tackle HR priorities, there are still challenges ahead. Our worklife coaching report shows an organization considering implementing a coaching program how to negotiate these challenges with their eyes wide open, and provides a valuable resource for those looking to bolster their existing mobility, development and retention strategies.”
Download the unleashing worklife possibilities: the worklife coaching report 2022 - retention through coaching
About Randstad Risesmart
Randstad RiseSmart is a leading specialist in worklife coaching and career transitions and an operating company of Randstad N.V. Our purpose is to enable organizations to unleash possibilities throughout their working lives for their biggest asset, their people. We understand that a business thrives when its people do. Our coaching-centric approach is designed to support individuals throughout all stages of their employment, and to support businesses in onboarding, developing, mobilizing, engaging, retaining, and transitioning employees to have the best possible worklife experience in alignment with business needs. We do this through our industry-leading combination of ‘tech and touch’ resources such as expert coaching, field expertise, industry insights, curated content, specialist platforms, and personalized action plans. Visit us at: https://www.randstadrisesmart.com/
Head of Communications at Randstad RiseSmart