Financial‐services company drives out coaching inefficiencies: Now all suppliers are suited to today's fast‐pace, high‐change environment

Abstract

Purpose

This paper aims to describes how the UK arm of an international financial‐services group reformed its coaching to suit today's fast‐pace, high‐change environment.

Design/methodology/approach

It explains why the coaching function needed to change, the reforms introduced and the results they have achieved.

Findings

It details how the number of coaches was reduced from 50 to 12 and how their performance was geared much more tightly to organizational needs.

Practical implications

The paper explains that a framework set out new standards for coaching, including: a more rigorous process for selecting and matching coaches; a priority system to focus coaching where it could make the biggest difference; tailored coaching competencies; a commitment to bring line managers into coach contracting and review conversations; and a system for measuring coaching to ensure it helped to achieve business goals.

Social implications

It demonstrates how coaching can be made more effective, to the benefit of individual employees, their employer and, ultimately, society as a whole.

Originality/value

The paper gives the inside story of coaching reform at a major financial‐services firm.

Citation

(2013), "Financial‐services company drives out coaching inefficiencies: Now all suppliers are suited to today's fast‐pace, high‐change environment", Human Resource Management International Digest, Vol. 21 No. 6, pp. 26-27. https://doi.org/10.1108/HRMID-08-2013-0064