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Retaining High-Value Employees With Executive Coaching

Retaining High-Value Employees With Executive Coaching

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One of the most daunting challenges that a CEO faces is retaining high-value employees. In this highly competitive market, competitors with offers of increases in salaries and benefits are approaching your best people.
One of the most daunting challenges that a CEO faces is retaining high-value employees. In this highly competitive market, competitors with offers of increases in salaries and benefits are approaching your best people.

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Categories:Business/Law
Published by: Dr. Earl R. Smith II on Jan 16, 2009
Copyright:Attribution Non-commercial

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05/10/2014

 
Retaining High-Value Employees with Executive Coaching
By Dr. Earl R. Smith IIDrSmith@Dr-Smith.comwww.Dr-Smith.comOne of the most daunting challenges that a CEO facesis retaining high-value employees. In this highlycompetitive market, competitors with offers of increases in salaries and benefits are approachingyour best people. Occasionally one of my clients willcome to me with exactly this kind of dilemma. “Howdo I retain these people? How do I make them moreresistant to these approaches?”Companies that treat their employees ascompensation-focused are likely to miss the opportunity to improveloyalty and resistance to the lure of greener pastures. The solution is tosee them as people with hopes, aspirations and an interest in personaland professional growth. Once a company begins to see their high-value employees this way, its approach to building loyalty and stabilitychanges. There are a number of ways that are traditionally tried. Forinstance, companies may offer educational support in the form of tuition assistance or seminar attendance. It may organize ‘after-hours’activities designed to help their employees realize their fuller potential.One of the best ways to build loyalty in a high-value employee is tooffer executive coaching.An offer of executive coaching sends two messages to the employee. The first is ‘you are a valuable member of the team and we want torecognize that’. The second is ‘as valuable as you are, we believe thatyou can grow personally and professionally - becoming even morevaluable as a team member’.From a cost standpoint, executive coaching is generally less expensivethan the alternatives. From a benefits standpoint, it is much more cost-effective. Coaching which is done within the corporate environmentand with an eye towards improving a high-value employee’s ability tocontribute to the company’s future is widely recognized as a way toimprove both the employee and the team. By providing experiencedmentors to key employees, the company is demonstrating that theyview them as individuals with potential beyond that which they haverealized.~~~~~~~~~~Related Articles:

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