The Power of Coachability

In today's changing workplace, the ability to adapt, learn and grow is more crucial than ever. Hey everyone, it's Anthony Honesto and this is my quick drop for this week. Are they coachable? The ability or the attribute that has emerged as a game changer in anyone's success in employee performance career advancement is coachability. It's actually the first question I ask leaders who approach me about an underperforming employee. Are they coachable? Now, Coachability, if you don't know, is the willingness and ability to seek, receive and act on feedback. You know when and listen. There's neuroscience behind fight or flight. Something our amygdala gets hijacked and we're in fight and flight mode. All reasoning goes away, all emotion. It becomes very emotional when we're getting specific feedback. But if you find over time that the employee is getting feedback and not instituting that feedback or operationalizing that feedback, the question is, are they coachable? Let's look at the numbers. So 46% of new hires fail due to the lack of coachability. This is a study done by Leadership IQ. A survey about 100 executives by the International Coaching Federation showed that an average ROI of an executive coach was almost six times the actual cost of the coaching, providing incredible returns. And we see 70%. According to the 2009 IFC Global Study of the Work Workforce, 70% of coaching clients reported improved performance due to coaching. So coaching is not what we're debating today. We all know that coaching is critical. I had actually two coaches in my career very early on that really were almost a Swiss army knife for me of advisors. The recent research has shed light on how significant coachability is. Yes, 46% of new hires fail within the first 18 months primarily due to the lack of coachability. But the impact of coachability extends far beyond just surviving that initial period. Workplace coaching studies found that coaching positively affects employee effectiveness with consistent positive outcomes across various performance measures. So the research shows that a highly coachable employees perform at a 9% higher level than their less coachable counterpoints. Adaptability. This is the superpower of coachable employees. The ability to adapt to an environment we are in now. Business environments that change almost on a quarterly basis. There were years ago where we used to be able to determine business success over a period of 1, 3, 5 years. Now we're planning businesses in quarters and half years and years now. So this idea of adaptability really, really important in terms of someone's coachability, can someone adapt? And it plays a crucial role. Studies have found that coachable employees are 28% more adaptable than, than less coachable employees. This is a person steadfast in my ways and they're not coachable. So if you're an employee, what does coachability say about your career advancement? Well, actually, research has indicated that highly coachable employees are 30% more promotable than their less coachable peers. I'm not saying you have to agree with the feedback, but the ability to absorb the feedback and build that into your performance, into your day to day operation. And for leaders to be pushing the idea of feedback and coachability really, really important. And there's no question the effects of coachability on organizations, the ROI on coachability, the idea that we can increase revenue, increase profitability, reduction in turnover, all of these things are super important. And so to determine if you're coachable, there are a couple of things. Coachable folks are authentic. They're vulnerable, they're candid, they're great listeners. They're eager learners, always about curiosity. They have a growth mindset versus a fixed mindset. They're hard worker, they're committed. Where uncoachable employees have the following traits which are they're very prideful. Now again, it's not linear in this way, but they're guarded, they're defensive, they, they hear, they hear a lot, but they don't listen. They're uninterested, they have a fixed mindset, I'm never going to be good at this or they lack effort or interest. So how do we cultivate coachability in organizations? One, we lead by examples. Encourage leaders at all levels to demonstrate coachability by seeking feedback, acknowledging areas for improvement and visibly working on their development. Incorporate coachability into hiring practices. When recruiting new talent, look for candidates who demonstrate a growth mindset and that are willing to learn and adapt. Provide regular feedback opportunities. Create a culture of continuous feedback where employees regularly receive constructive input on their performance and have opportunities to discuss their development. Invest in coaching programs we work with bravely. Right now we democratize coaching. I could see AI ChatGPT and now the voice enabled ChatGPT being great coaching opportunities. Our executive team has a coach, so recognize and reward coachability. This is a great if you want to enact certain behaviors in your organization, you have to recognize and reward them. Let folks know, hey, you were really coachable or you really learned or you're curious or there's no ego. Whatever it is, you need to recognize and reward those coachable folks. And you have to really, at the end of the day, foster psychological safety, making sure that you have an environment where employees feel safe, taking risks, making mistakes and seeking to help without fear of negative consequences. That's my quick drop about coachability this week. We'll see you next time.