We’ll get right to the point. Providing executive coaching for your company’s high potential millennial employees is a brilliant way to strengthen your organization, replace leaders who are retiring, and retain your best and brightest young talent.
It’s a win-win for your business and for your employees. Here’s how it adds up.
First, studies demonstrate that millennials (the oldest now in their late-30’s) love training and professional development. They truly value professional development and will seek-out companies that offer them opportunities for growth.
Research conducted by EdAssist reported:
- “If asked to choose between two similar jobs, nearly 60 percent would pick the job with strong potential for professional development over one with regular pay raises.”
- “72 percent feel their schooling did not effectively prepare them for the workforce.”
- “58 percent of Millennials expect employers to provide them with learning opportunities relevant to their job.”
- “When asked what would make them stay longer than planned at any given job, 53 percent of respondents say it would be learning new things or having access to learning or professional development opportunities.”
- As older executives retire, executive coaching for select employees builds a highly-qualified pipeline of future executive leaders.
- Coaching to grow leaders internally means you get a leader who already knows the company, its history, and its culture.
- Coaching improves executive employee retention (for employees you really want to retain).
- It assists with recruitment: organizations that are known to develop and promote from within tend to be much more attractive to millennial job-seekers.
- Providing coaching is a tangible sign of employee recognition.
- Employees perceive executive coaching as a high-value benefit.