conclusion & what to do next

Our new report, we hope, helped readers to make some sense of the turbulence in the talent market.

At Randstad RiseSmart we prefer to see things differently. We believe in making work better for everyone. Bringing new talent into an organization of itself can be a good thing – it brings new ideas and experience to the fore. And at some point, businesses need to proactively get ahead of this transition and build a modern workforce. But how? Our research has drawn us to conclude that: 

1. Coaching is set to become the enabler of the “Great Retention.” It can inspire and support the ongoing development, satisfaction, engagement, and performance of individual employees in every respect. Coaching is a conduit – it is not so much one of many potential tools to hand, but the very means through which many other people challenges can be tackled and solved.
2. It will be critical to support the inclusionary agenda. Coaching has been seen as focused on a privileged few, with only a quarter of employees believing that it is available to all. Older Millennials and Generation X are not settling for career inertia but are impatiently looking instead for new roles. And our research reveals the need for employers to communicate the benefits of coaching across genders. 
3. Affordable new models of coaching are emerging. The challenges of cost, value, and ROI are surmountable if coaching can happen on a pay-as-you-go basis. Funding for coaching is the biggest barrier to its deployment more widely – 93% of organizations surveyed would roll it out across a business to all employees if this challenge could be overcome. Things are changing though, and with our own solution, HR teams can test the water with a low initial investment to encourage expansive use of the solution across different teams and departments. Thus enabling greater flexibility and deployment and wider employee usage. 
4. Among employees, the positive perceptions of “coaching for all” will far outweigh the negative. The top 3 perceptions, according to our research, are: 
    -  87% say it helps them overcome challenges. 
    -  87% say it helps them move forward with their careers. 
    -  85% say it shows them that their employer cares about them. 
5. The benefits of a new approach to coaching will prove far-reaching. It has wider benefits related to improving life both at work and beyond. For employers, coaching enables the liberation of talent and the discussion and resolution of issues that may otherwise lead to a valued employee leaving the organization. For employees, it supports their well-being: it could assist them to return to work after a period of long-term sick leave, negotiate worklife challenges, and a better environment at work. 
6. Organizations need to do more to ensure employees are aware coaching is available to them, and if moving from a traditional leadership/high potential offering to a more democratized approach, this is even more important. Across the board, 30% of those who are eligible for coaching are not participating, which doesn’t stack up when almost 100% of participants believe it is valuable.
7. Driving coaching to focus on an employee’s worklife as a whole, not a specific HR-derived goal is more advantageous. 89% of those surveyed considered this more motivating and 90% more valuable than a traditional development or leadership style approach. 

The democratization of coaching is not only essential but eminently achievable for businesses. Because of these conclusions, Randstad RiseSmart, therefore, believes that career coaching should be sponsored by an employer at no cost to the employee. It should be led by an employee’s needs rather than those imposed by HR, and aim to empower employees, by helping them make their work and life more enjoyable and engaging, ensuring they make considered decisions about their time at work. 

Talent retention is the top priority for HR over the next 12 months. Coaching, it is clear, has a direct impact on retention and improving engagement. Right now, there is a major challenge ahead for HR in delivering a more inclusive and affordable coaching culture. But it is achievable and it’s also a challenge that, if met, could further elevate HR’s position of influence within any business. Here are some key actions that the profession should be pursuing:

1. Many organizations are experiencing significantly more turnover than their prepandemic levels. The HR department must tackle “other” people challenges such as engagement, career development, and support a more inclusive workplace to reduce the attrition. It is the sum of these parts that make people want to stay and work to improve their worklife. Making the case for an integral role for coaching will help them achieve this. 
2. For HR, arguing for a bigger coaching budget becomes achievable if coaching can be delivered with a more flexible and scalable model. HR should argue for pilot project investment on this basis. This would encourage more expansive use and democratize coaching. 
3. Certified coaches do the best job. It’s that simple. Using direct line managers or leaders informally stepping into the role of a coach can be effective but across the board, it is certified coaches that deliver the best results for the employee and ultimately the business. 
4. Above all, there needs to be a change in the collective mindset around coaching. HR needs to show that a successful central role for coaching rests on three pillars. It must be: 
    -  expert-led: Certified coaches need to be able to deliver expertise to ensure that the experience is employee-centric.
    -  engaging: There needs to be a single, integrated and engaging technology and human experience for employees. It’s vital to combine technology-enabled ‘nudging’ of talent to build their positive habit formation, with the latest resources and knowledge.
    -  inclusive: Too many traditional coaching models are cost-prohibitive. The best approaches enable every employee to have access to enhancing guidance around work-life issues to strengthen inclusivity. 
5. Too many organizations are heavily reliant on engagement to measure the success of a coaching program. This approaches is too broad. Implementing a feedback loop for coaching that is more closely tied to wider HR metrics and priorities is helpful. It not only highlights challenges and successes, but will also help justify further investments in coaching. 
   With this approach it is more than possible to achieve a successful, inclusive, and affordable talent retention strategy, with worklife coaching at its heart.