First the bad news: Research says corporations spend between 2 and 10 percent of employee compensation on leadership development and get mediocre results. Another study says that only 35 percent of HR directors and 21 percent of other executives believe that their current training and development programs meet corporate strategic objectives.
Hold on, it gets worse. Between 75 and 80 percent of today’s workforce is not engaged. That means even though they’re in the office moving paper, their hearts just aren’t in it. But what should you expect when 51 percent of workers don’t understand what is expected of them to reach their goals. If they have clearly defined goals.
The worst part—companies in this pitiful condition are wasting as much as $140 million on poorly delivered executive training programs. If that’s not a call for change, I don’t know what is.
Now the good news: We know how to fix this problem. First let’s call it a challenge. Problems demoralize, challenges urge us to surmount them. More good news: all the tools for rising to this challenge are at your disposal. I’ve identified them and built them into a four-step process I call the CQ Development Cycle. This year alone, Align4Profit has taken about 300 leaders from countries in South America, England, and closer to home in the USA, through my CoachQuest Cycle. All of them have made remarkable progress with their leader-as-coach styles.
Look at it and see how it could work for developing your leaders into great coaches.