Discussion Post Response #2_520

Module 4 Discussion

Anthony Johnson posted May 25, 2020 6:11 AM

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The business coaching industry has a lot to offer to the employers both in the public and private sector. Business coaching is a process that is designed to ensure that the talents and skills of the employees within an organization can be developed in a manner that helps take the business from its current position to its desired position. Business coaches assist and guide the business owners on how to run their business by clarifying the vision of the firm and how it matches the goals of the individuals within the organization (Stout-Rostron, 2018). According to the resources found in IBISWORLD, the utilization of business coaching has been increasing, which is associated to its cost effectiveness within an organization. This is because through business coaching, organizations are able to achieve phenomenal results both among individual employees and teams within the organization (IBISWorld, 2020). Business coaching provides a sustainable solution to performance issues not only for the large organizations in the public sector but also the medium and small scale businesses in the private sector.

Evidence has shown that the utilization of business coaching provides one of the most powerful wats for businesses to develop their people and add to its bottom line performance. Coaching enables the businesses in the private sector to boost their productivity by ensuring that the individual goals of the employees are aligned with those of the entire organization (Stout-Rostron, 2018). Coaching helps communicate the vision of the firm clearly to all the employees as well as those in managerial positions, which in turn helps improve the quality of customer service. In addition, business coaching results in an increase in the overall bottom line profitability of the organization in as much as it enhances the retention of the employees within an organization (IBISWorld, 2020). As a result, the business does not have to incur unnecessary costs in the recruitment, training, and development of new employees.

Even as business coaching industry continues to grow, there are some challenges that have been encountered. Key among these has been the reluctance among the organizational leaders in adopting business coaching as a way of enhancing their performance (Borisova et al. 2017). In addition, business coaching industry has to deal with intense competition from other sectors such as universities, which seek to provide students and employees with the same skulls and knowledge as those provided in business coaching (IBISWorld, 2020). As such, the firms in the business coaching industry must focus on reinventing their approach to coaching and offer better experience to their clients.

AS a HR manager in an accounting firm, business coaching would help by providing various skills to our employees such as coaching on leadership skills and training them on the importance of accountability. Leadership skills are essential not only for those in managerial positions but also for the employees (Stout-Rostron, 2018). This is because it enables them to carry out their duties more effectively and be able to perform them under minimal supervision. This way, the employees can build actionable plans and be proactive in actualizing these plans (Borisova et al. 2017). On the other hand, training individuals on accountability would ensure that all the people are willing to carry out their duties with the desired effectiveness for the better performance of the entire organization.

References

Borisova, O. N., Silayeva, A. A., Saburova, L. N., Belokhvostova, N. V., & Sokolova, A. P. (2017). Talent management as an essential element in a corporate personnel development strategy. Academy of Strategic Management Journal, 16, 31-46. Available in the Trident Online Library.

IBISWorld. (2020). Business Coaching in the US industry trends (2014-2019) - Industry Market Research, Reports, and Statistics. Ibisworld.com. Retrieved 25 May 2020, from https://www.ibisworld.com/united-states/market-research-reports/business-coaching-industry/ .

Stout-Rostron, S. (2018). Business coaching international: Transforming individuals and organizations. Routledge.