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the value of coaching

Why Millennials Want Coaches, Not Managers

Your workforce is increasingly made up of millennials; this is unsurprising – they’re the ones with the most contemporary skills, and with each passing year they become a larger percentage of the working world. With close to 10,000 baby boomers turning 65 every day, millennials now represent the largest subset of America’s workforce. Approaching these younger workers with the attitude and expectations of a coach, rather than the antiquated characteristics of a traditional “boss,” is key to maintaining their engagement. Here’s how a coaching style differs from the approach of a traditional manager, along with a few insights about why this shift in managerial style is so important.

Coaching responds to failure with empowerment

A manager who behaves in the classic “boss” tradition is likely to take a disciplinary tone after an employee fails or does a poor job on a project. Getting “chewed out” by the boss is a familiar trope in the stereotypical work environment. Coaching, on the other hand, takes an entirely different approach. If a player on a sports team does badly, the coach may feel frustrated, but he or she is well aware that scolding and criticizing the player is not likely to yield better results in the future. Instead, a coach views failure as a sign that the player needs more training, support, and encouragement.

Harvard Business Review (HBR) describes the behavior of award-winning college coach Mike Krzyzewski after a player’s carelessness caused his team to lose. He took the whole team out for an ice cream sundae party, emphasizing encouragement and team-building, and then he held an extra practice to help everyone come together again.

Millennials want more frequent feedback

When you picture a coach guiding a team to victory, you probably imagine lots of feedback was involved. The coach is on the sidelines, shaping the choices that the players make and shouting encouragement or suggestions. After the event, the coach probably holds a video session and works together with players to identify areas that need improvement. It’s all very hands-on.

Now, contrast that leadership style with the annual employment evaluation that typifies an old-school manager’s pattern. An employee is called in to the boss’s office and given an evaluation containing praise and criticism that might be outdated, perhaps even a year old. A coach wouldn’t have a successful team if he or she only gave feedback once a year.

Furthermore, millennials want the high-touch guidance of a coaching culture. A global survey finds that overall, millennials want feedback 50 percent more often than older employees, with most of them preferring feedback on a weekly or monthly basis.

Employee success depends on rewards and recognition

While frequent feedback is a proven method for increasing employee engagement, the quality of that feedback is equally important. An effective coaching approach is based on recognizing each person’s individual strengths. Best practices include creating a company culture that emphasizes positive feedback and employee appreciation. Positivity is necessary in every workplace, but it’s especially crucial when you’re leading a team of millennials.

A recent Gallup report noted, “Only 19 percent of millennials say they receive routine feedback. An even smaller percentage of millennials (17 percent) say the feedback they do receive is meaningful.” This same report states that fewer than 15 percent of millennials ask for the feedback they really want; so it’s up to leadership to establish these employee recognition best practices.

Managers are an important source of professional learning and development

Forbes states that most millennials identify their manager as their main source for learning and developing skills, but only 46 percent of those surveyed believe their deliver on this hope. These numbers are helpful because they indicate a direction you can take with your management style. One millennial worker quoted in the HBR article states, “It’s very important to be in touch with my manager, constantly getting coaching and feedback from him so that I can be more efficient and proficient.” And to further illustrate how much millennials crave learning and development, it’s been reported that 62 percent of executives say millennials will consider leaving their jobs because of a lack of learning and development opportunities.

Coaching takes the whole person into account

Though today’s cutting-edge companies invest serious effort into making sure their employees have a good work-life balance, they also realize that this new approach looks at employees as whole people, not just a drone carrying out a task with little to no thought. A great deal of research has gone into the psychology of coaching and the need to consider the “inner game,” but this mindset is still very new to the corporate world.

As more managers realize that helping their employees to maintain a healthy work-life balance will result in more highly engaged employee, they will likely change their style of supervision to emphasize encouragement. It’s all part of a more holistic approach to talent management; a recognition of workers’ inherent humanity and a step away from viewing them only as cogs in the wheel of a production assembly line.

It’s all about performance

Of course you want to treat your employees well for their own sake, but you also want to be an effective business person. You want to manage your team in such a way that productivity increases, both now and in the future. This often means understanding the unique needs of your millennial workers.

A coaching approach, versus a top-down “I’m-the-boss” approach gives you an incredibly powerful tool for increasing employee engagement among your younger team members. These workers will respond with higher performance and greater loyalty, bringing sustainable growth to your bottom line.

To learn more about how you can effectively introduce employee recognition to your millennial team, download our white paper, “Sink or Swim: How to Engage Millennials to Ensure the Future of your Business.”

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Top employee desires

What Rewards Do Employees Want Most?

The balance of power between employee and employer has shifted in recent years, especially in tech-related fields. As a human resources professional or manager, you’re probably all-too familiar with the job-hopping ways of highly skilled employees who feel they can pick and choose the job they want. And that’s reflected in the fact that more than half of all business owners feel that competition for talent is stronger than it’s ever been. But there are a number of ways to attract and keep top talent, and to keep them happy and engaged while they’re with you. Offering an employee recognition and rewards program has proven to be one of the most effective ways to retain highly skilled workers and to build your company’s financial strength at the same time. Here’s a look at why a rewards and recognition system is important, and how to choose the kinds of rewards that your workers really want.

Employee happiness is essential

Even if your business is centered on sophisticated equipment or software, human beings are still the essential engine that makes everything run – and a sense of emotional well-being is the primary fuel that keeps those human beings working at their peak performance level. Research shows that workers who are recognized and rewarded for their efforts feel happier in general, have better relationships with co-workers and are more open to constructive feedback. Financially, you’ll see measurable returns as well: According to an Aberdeen Group study, companies with some type of formal employee engagement program see a 25-percent increase in year-over-year revenue, along with nearly triple the sales team success. And the difference in annual customer service cost was equally eye-popping: companies with formal methods for employee appreciation saw a 12.7-percent savings in customer service expenditures, whereas companies that don’t have any employee recognition system in place spent 1.2 percent more for their customer service.

Why employee incentives have become more important

It’s always been true that recognizing and rewarding employees for their contributions results in better performance and less employee churn, but now that millennials are flooding the workplace thee levers have become more important than ever. Younger workers are often the ones with the most desirable skill-set, but in return for their services they expect employers to be appreciative of their efforts. Investopedia lays out the basic facts for managers: One-third of every U.S. worker belongs to this generation, along with half of all new immigrants who come here. The article goes on to advise, “This drastic shift in the workforce requires companies to change how they manage and reward talent. The policies and incentives that worked for past generations are no longer effective, and companies that fail to adapt may find themselves facing a shortage of talented and motivated workers.”

What kind of rewards should you offer?

Once you’ve made the decision to establish a formal system for recognizing and rewarding your workers, the next step is to figure out what kind of rewards will most effectively motivate and delight your employees. Here’s a quick review of the benefits and perks that are recommended by employee recognition best practices:

Social recognition

Especially for the growing population of millennial employees, a social recognition platform should be your first focus. This popular type of HR technology is perfectly suited for workers who have come of age in the era of Facebook, Twitter, Snapchat, Instagram and so on. They’re accustomed to immediate feedback, “likes,” status updates and more, and if they’re praised, they want to be able to share the event with friends. You’ll build loyalty among this group of workers with shareable social acknowledgements because these rewards are magnified when posted on personal and professional networks.

Career coaching and professional development

Your employees work for many reasons besides merely earning a paycheck, and the best way to nurture their non-monetary motivations is to offer them a chance to advance in their careers. By providing the opportunity to learn new skills and embrace new challenges, you are fueling each worker’s passion for their job and helping them feel more engaged in your organization’s overall business success.

Additional flexibility

Everyone who works for you is also balancing a wide array of outside commitments and obligations. A study of employee wants found that 35 percent of workers say they would benefit from more flexible work schedules, and 46 percent say that having more control over their time is one of the most important factors when they’re looking for a new job. Rewarding your top performers with greater control over when and where they work is a cost-effective method of increasing employee happiness and building loyalty.

Gift cards and trendy items

Although pay and compensation must be competitive in order to ensure a sense of well-being among your workforce, employees today often expect more than just their baseline pay to feel truly appreciated. That’s why being able to offer a wide array of rewards in the form of gift cards, travel and leisure, and other hot items like tablet computers or VR goggles is complimentary to any fully-fledged social recognition program. The unique benefit of offering gift cards and a full selection of items from a catalog is that each employee can choose his or her own uniquely meaningful reward, and which will make them feel more satisfied than if they just received an insignia coffee mug, plaque, or some standardized gift that you purchased for them.

Your company’s financial strength depends on making sure that your employees stay engaged. Understanding some basics in human motivation can help you to be creative in finding ways to recognize your workers. New developments in HR tech also offer holistic systems for boosting worker happiness, increasing engagement and improving overall performance.

We all want to make our employees happy, so why not start by giving them what they want: an unbeatable rewards and recognition program in place. Learn how to kick off the right rewards and recognition program for your business by downloading The Ultimate Guide to Recognition.

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