Lately, I’ve been delivering a number of sessions about Courageous Coaching, and why it’s so critical.
The main reason it’s critical for managers to be courageous and offer regular coaching to their direct reports relates to the cost (both financial and non-financial) of keeping employees who underperform.
- Waste of management’s time and effort. They take too much time and attention for these underperformers, which would be better spent on top and even middle performers.
- Employee morale. The high performers resent the time and dollars spent on the underperformers. They also end up doing more work themselves – which impacts employee morale.
- Increased disciplinary costs. There is too much time spent finding a “formal” reason for underperformers’ termination – especially when there is little chance of improvement.
- Customer satisfaction. If service or products are poor, it impacts the customer. Most likely, they then will find another place to do business.
The old adage, “Hire slow, fire fast” is a good one. Once an employee is hired, the manager needs to coach him/her … keeping the short and long-term costs in mind.