Working with others can sometimes be more difficult than people might initially think. A typical company might employ dozens of people who interact with each other on a daily basis; and not everyone is built to like all of their coworkers. They might have ideological differences, or they might disagree regarding their approaches to work. No matter why people disagree — it tends to happen frequently at the workplace, and this can lead to serious conflict. Not only does conflict make it more difficult for work to be done effectively; it can also lead to people quitting their jobs prematurely. The more people get along, the more successful a company will be. Therefore, in recent years, it’s become more common for companies to focus not just on the bottom line, but promoting a positive company culture. This can be done through mediation and coaching services that will help employees learn about conflict resolution. Services like these can also help executives become “better bosses”. Management consulting has been known to change companies for the better, turning them from mediocre to successful. At the end of the day, paying more attention to serious issues like employee conflict resolution and strategic planning can change a company’s future entirely.
Why Do People Leave Their Jobs?
A major issue that many companies have is employee retention. This refers to the amount of people who are staying at their jobs compared to those who are leaving. Not everyone leaves a job because of conflict or issues with pay or performance. Millenials make up the majority of the workforce now. However, 91% of them leave their jobs after less than three years. While some believe that millennials do this because they’re lazy, the issue is actually the opposite. They’re ambitious, and think that they can get more out of a different job. In order to keep employees on, companies need to ensure that they’re offering the proper incentives and futures for their employees. For that matter, employees are more likely to stay in work environments that are pleasant — this only makes sense. A lack of conflict resolution can make an employee quit prematurely, and this will cost your company. In fact, the cost of replacing a mid-level employee can be as much as 150% of their annual salary, and the cost of replacing a high-level employee is as much as 400% of their annual salary. Companies just can’t afford the strain of constant employee turnover, and this is why many work with business coaching services.
What Does Business Coaching Involve?
Business coaching is about more than learning the steps towards proper conflict resolution and reducing absenteeism. It’s about completely changing a company’s approach to business for the better. Often, this can free up the time of managers as well, and let them focus more on their actual jobs and less on resolving issues with employees. The typical manager will spend 25% to 40% of his time resolving conflicts, which means that much doesn’t get done at the workplace. A consultant will show a manager how to mediate conflicts effectively, and for that matter permanently. The fact is that the results of coaching prove themselves — companies typically see an investment return of 7x. This won’t be a quick fix, with the average executive coaching engagement lasting between six and nine months. But it will be worth the time and money.
How Does Stress Affect The Workplace?
Finally, we shouldn’t neglect to mention how important business coaching is in terms of helping managers deal with their employees’ stress levels. Stress can seriously affect employees, causing them to miss work and for that matter turn in poor work. Coaching can help managers learn how to deal with their employees’ stress levels in a sensitive manner. It can also help managers implement systems that will cut down employees’ stress levels.