Coaching services in a time of recession

Posted: 27/01/2009

Times are hard and money is scarce... could this be the perfect time to invest in coaching?

We know that we are in for a stormy year. We need to cut costs, focus on our priorities, streamline our client service offering and demand even more from our people. Training and development budgets are often amongst the first to be cut. The problem with this approach is that it is extremely short sighted and can cost more than it saves.

We have to build for the future, but we are also faced with the task of delivering results today. This is as true in times of prosperity as in a time of recession, but in challenging times, the overwhelming drive is to focus solely on the pressing needs. While this is important to ensure our immediate survival, it is equally important to raise our heads above the parapet to see where we are heading.

I worked with a client recently on becoming more ruthless with their diary. In seeing their time as limited it also became valuable and the first step was to cut out all the unnecessary meetings such as those with colleagues from other divisions exploring what they were up to and long one-to-one sessions with the management team. However, it quickly became clear that these meetings were essential and should be their priority. The meetings with colleagues were a proven source of ideas and energy. The one-to-one sessions could be improved to make them even more valuable, but the support and encouragement they provided was crucial in succeeding with the large portfolio of deliverables. From here the client was able to clarify what was really important and what could be cut, delegated or dealt with differently.

In a time of recession, businesses need fresh thinking and new ideas. They need to find new ways to attract and hold on to customers, differentiate themselves from the competition and improve their service and products. Businesses need strong leaders – personal effectiveness is crucial to communicate with, influence and inspire those around them. It is during the challenging times that we require most support.

Coaching can play an important role in helping people through the challenges that lie ahead:

  • Coaching helps individuals to develop their personal effectiveness – improving self awareness, self confidence, influencing skills and the ability to manage conflict and stress.

  • Coaching motivates people – with limited opportunity to reward through salary increases and bonuses, personal and professional development will play an important role in helping an individual to feel valued and will also help galvanise a team around a core set of deliverables.

  • Coaching creates clarity and focus – and with this comes perspective, balance, strong leadership and a sense of direction.

  • Coaching stimulates creativity and fresh thinking – it will help your team to see and seize the opportunities that allow change and growth.

Recession is an integral part of the economic cycle. Although much of the media is focused on the negative aspects, a phase of recession can provide real opportunities alongside the challenges. ‘More from less’ will be the essential tenet for 2009 (and most likely 2010) as we are increasingly required to operate with greater effectiveness.