We’ve all heard this one about the critical bottom line impact of our employees – “What if we train them and they leave? What if we don’t, and they stay?” There’s another one that is even worse, and I hear this complaint from young employees and professionals all over the country. “My boss doesn’t have time for me.” What??? And here is the really bad news. There is research that backs up the disparity between the value that Millennials place on mentorship and leadership programs vs. GenX and Boomers. Oops – sorry to surprise you, but it’s the GenX and Boomer generations who don’t place a lot of merit on it. Millennials are clamoring for it.
Let’s be clear. We have a retirement crisis on our hands. There are not enough Xers to replace the Boomers, and that means that our younger generations, by default, will be leading at much earlier ages than their predecessors. You can dislike it. You can think they’re not ready. It doesn’t matter. Check out this stat – 20% of the workforce is going to be GenZ in 2020, and if the Millennials are already the majority, that’s at least 71% of the workforce – and they’ll all be 40 and under. If the very people who have the institutional knowledge are not as interested in passing it along as the people who are coming into key leadership positions, we’ve got a problem that is rapidly compounding and not much time to do a course correction.
So – not only are leadership development programs essential for every company to be engaging in, so is coaching, because it will help to provide a fast track to the experiential learning that our employees need. Research also shows that if training and leadership programs are not followed up with ongoing practice, they are far less impactful. By the way, I’m not suggesting that coaching is not valuable for senior leaders, C-suite, company owners, etc. It most assuredly is, but in this case, if you want a profitable company going forward, you need a plan of action immediately to address the talent development of your team.
One more point of clarity – coaching is NOT mentoring, and those words are NOT interchangeable. Mentoring is an official and formal relationship, usually within the same company, but not always, that includes knowledge transfer, access to meetings and opportunities that would not otherwise be granted without the mentor’s presence, introduction to key future networks, sponsorship of participation in professional development, and ongoing and regular meetings for development.
Coaching is a method of professional development that involves staying in a point of inquiry from the coach’s perspective, assisting in developmental plans, providing accountability, developing skill sets, and creating a safe space for the leadership development, crises, and experiential learning to percolate. It results in the coachee becoming more self-sufficient, becoming more competent and skillful, enhancing self-awareness and therefore becoming a more effective leader, learning to recognize impacts on teams, developing their own skills as a coach with their employees, and finally, creating a coaching culture in the workplace.
If you want profit, it takes people. Your people are ready for your investment – in them.
P.S. I was 30 when I became an international CEO. Was I as ready then as I was after 20+ years of CEO leadership? No. Was I a good CEO? My leaders and staff said yes – and your young leaders will be good too! Coach them. Let ‘em fly, and watch the profits soar!
Join Cynthia for Coaching and Mentoring to Impact Your Bottom Line on Friday, November 9, 2018, at 4:30pm
Cynthia Mills is Founder, President and CEO of The Leaders’ Haven™, a consultancy partnering with clients to align for impact and exceed expectations. TLH serves corporations, small, privately held, and family-owned businesses; associations, tax exempt organizations, and faith-based communities as business strategist, board consultant, leadership development catalyst, business and executive coach, succession planning and search sherpa, change management guide, speaker, and facilitator. Nicknamed “The Board Whisperer™” by clients, Cynthia relishes transformational journeys
An award-winning national and international CEO, Cynthia works with developing and committed leaders, future seekers, change masters, high performers, and corporate culture architects to exceed expectations. Clients are leaders nationally and internationally, serving business and industry, finance, energy, marketing, healthcare, pharmaceutical, co-op, legal, retail, agriculture, senior living, real estate, facility management, environmental, publishing, media, transportation, construction, safety, engineering, education, entertainment, museum, hospitality, restaurant, philanthropy, fraternity, and faith sectors.
Cynthia holds an MA from the University of York, England earned as a Rotary International Ambassador Scholar and a dual BA from Queens College as a Presidential Scholar. She is a member of the Institute of Management Consultants (IMC), Association of Charlotte Area Consultants (ACAC), International Coach Federation (ICF), International Coaching Council (ICC), American Society of Association Executives, (ASAE), Association Executives of North Carolina (AENC); Professional Woman Network (PWN) and the PWN International Advisory Board, was awarded Honorary Lifetime Membership in the Georgia Society of Association Executives (GSAE); and is a Lifetime Member of Strathmore Who’s Who Worldwide, which honored her as the Professional of the Year for Consulting, Coaching, and Professional Development. Cynthia is also a member of the National Academy of Best Selling Authors and the National Association of Experts, Writers, and Speakers. Her media appearances include “Hollywood Live with Jack Canfield” on A&E and Bravo and “Live at Studio 6B.” She is also the host of “The Leaders’ View™”- an online TV show debuting fall 2018.
An ASAE Academy of Leaders Awardee and ASAE Fellow, Cynthia served on the Board and Executive Committee of ASAE, ASAE’s for-profit subsidiary Board, ASBI, and was President of GSAE. She was awarded the GSAE President’s Award and the Clifford Clark Award, the TCIA Chair’s Award twice, Outstanding Southeastern Association Executive and was elected as Fellows Chair by her peers. Cynthia is certified as a Master, Professional, and Christian Coach, and Association Executive and an ASAE Career HQ Coach.
A best-selling co-author of The Big Secret with Jack Canfield of “Chicken Soup for the Soul” renown, her chapter, Align for Impact, received an Editor’s Choice Award. She is also author of CEOs First 90 Days: Breathing Tips for the Other End of the Fire Hose, The Empty Front Porch: Soul Sittin’ to Design Your porch to Porch Plan and is a featured author in The Female Factor: A Confidence Guide for Women; Breaking The Concrete Ceiling: Empowerment Tools for Women; and Leading from the Heart. Cynthia is under agreement for 9 more books!
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