The Importance of Coaching and Mentoring in 2022 - Developing Future Leaders

How are you and your organization working within the ever-changing workplace culture?

Let me ask: How do leaders engage with and develop future leaders in a highly fluid and demanding workforce?

This topic is said to be a frequent discussion with Millennials today. No surprise. However, let’s consider the generations of workers in this decade who are not to be ignored.

• IGen/Gen Z
• Xennials
• Generation X
• Baby Boomer Generation
• The Silent Generation

The number of entrepreneurs, freelancers, or gig workers—those independent contractors who offer services in “one and done” or project contracts—is growing – in all these generations.

According to data collected by the U.S. Bureau of Labor and Statistics:

• In 2005, 2-4% of all workers were contingent (short term) and 7% were alternative (freelance, independent consultants, or on-call workers).
• In 2017, the total number grew to 34%, or 55 million workers, and according to Reuters.com, was projected to rise to 43% for 2020.

Although studies are still pending, anecdotal evidence from the coined “The Great Resignation” in 2021, tells us that the numbers will surpass any prediction made in 2017 – with no surprise.

In Canada, according to a report by CIBC Capital Markets, The Great Resignation has not quite come to fruition. Canadian businesses do, however, share similar challenges with attracting and retaining talent that is committed, inspired, and engaged in mutual success. Factors such as newfound remote work capabilities, mass layoffs in lower-paying jobs, and “forced” early retirements have reshaped the labour market with many unforeseen consequences in developing future leaders. The old ways of relying on leadership training and “learning by osmosis” won’t work in the new culture of remote and flexible workplace and fluid relationships with organizations.

• Half of S. workers polled prefer the flexibility of independent or gig work
• “Canadian’s ways of working and their relationships with organizations are becoming more fluid.” …PwC Canada.

There is no debate. Retaining high-performers, and identifying and developing future leaders, is more important than ever before. But, how do we do move forward?

Recovery from a Workforce Leadership Crisis. Workplace Culture. Effective Execution

Recovering from a crisis is a process. Recovery takes time, preparation, and effective execution: an organizational and workplace culture that executes specific behaviours and techniques.

Going beyond recovery for competitive advantage requires discipline and a system: a comprehensive understanding of the business, its people, and its environment.

An effective execution links three core processes of any organization: the people process, the strategy, and the operating plan aligned with its mission and goals.

Reflecting on my own experience working with business owners over many years, I see a growing disconnect in the three core processes as business owners fall to the allure of “chasing the money” and ignoring (or not being aware of) foundational business systems as the gig economy grows and the workplace culture changes.

I work specifically with women entrepreneurs who are scaling their businesses and need structure and systems to design and implement their business foundation and want their leadership style and skills to complement their “different way of leading”.

Leadership, regardless of level, must be passionately engaged in every organization – regardless of size. Getting the right people on the bus is an important first step. However, recognizing, rewarding, and developing human potential are more critical than ever before.

Leadership Coaching and Mentorship – Universal Right in Human Development

The importance of coaching and mentoring today cannot be overstated. Coaching can no longer be reserved for problem employees or top performers. Enabling all employees to achieve personal objectives and business objectives in the shortest possible time is critical for success – the business’s, theirs, and yours.

Savvy entrepreneurs and business leaders hire qualified coaches to accelerate development for themselves and their employees.

Savvy business owners are NOW developing formal mentorship programs to transfer knowledge and expertise from their experienced high performers to their future leaders.

Let’s not lose the value of the continuing ability and willingness of the Baby Boomer and The Silent Generation to contribute to recovery and pay-it-forward to future leaders.

As Forbes reports, “the hyper-personalization of HR services will no longer be a projection for future organizations; it will be required.” And, “It will also become imperative for an organization to target its personalized employee experiences. Enterprises that succeed will retain talent, create an empowering work experience and elevate career advancement.”

What do you think? How will you engage with and develop future leaders to be effective in and to excel in the new future of work?

If you are a women entrepreneur who scaling your businesses and need structure and systems for your business foundation and want your leadership style and skills to complement your “different way of leading”, connect with me to learn more.

You can reach me on LinkedIn, and on Maestro’s Facebook. Or click to Get in Touch.

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