As the new year begins, healthcare leaders have an opportunity to think about and commit to a development plan that can promote individual growth, empower their teams, and drive their organizations toward sustained success. Healthcare organizations that prioritize and invest in a coaching and leadership development culture can positively impact their workforce’s potential, foster growth, and create long-term success in today’s ever-changing business environment.
There is growing data that suggest investing in your teams through coaching and leadership development positively impacts business success. For example, an FMI Corporation report found that survey respondents consistently see their ROI for executive coaching falling between 300–700%, citing improvements in overall business strategy, organizational culture, and the business’ financial health. The International Coaching Federation reports the following statistics on the benefits of coaching:
And the Dion Leadership Survey found that over three years, 95% of leaders reported being better equipped to utilize new behaviors at work after coaching, with 94% noting increased confidence and 81% experiencing improved overall well-being.
Creating a thoughtful approach to developing a culture of coaching and leadership development is key. Here are tips and strategies that can help support a plan for your business.
1. Prioritize Coaching as a Growth Strategy
Coaching is an effective means for unlocking the potential of healthcare leaders and overcoming challenges they may encounter. Leaders who engage in coaching themselves set an example of continuous improvement, while offering coaching opportunities to their teams fosters individual and collective growth. The ripple effects often include improved decision-making, stronger communication, and enhanced performance.
Consider hiring professional coaches for senior leaders and offering coaching sessions to employees at all levels. Tailor coaching programs to address specific business challenges and opportunities.
2. Focus On Leadership Development
Leadership development initiatives can improve the skills and capabilities needed to navigate complex business environment of healthcare. Investing in these programs prepares teams to tackle challenges and helps organizations build a pipeline of capable future leaders, which supports ongoing success.
Identify targeted leadership development programs, such as workshops, mentorship opportunities, or assignments that may allow for collaboration with tenured leaders. Focus on emotional intelligence, communication, feedback, and how to motivate and engage teams. Improving these key areas equips leaders to build stronger relationships, boost employee engagement and performance, and create a positive work environment.
3. Gain Buy-In
Coaching and leadership development initiatives are most effective when there is broad support and engagement. Involve senior leadership and key stakeholders in planning and execution to ensure alignment and buy-in. Collaborative efforts foster a sense of ownership and commitment to shared goals.
Host roundtables or webinars with key team members to gather input on development priorities. Identify and communicate how these initiatives align with organizational goals and benefit participants.
4. Spotlight the Business Impact
The value of coaching and leadership development goes beyond individual growth. Do not underestimate the positive impact coaching and leadership development have on broader teams, often resulting in reduced employee burnout (a pervasive issue within healthcare), increased productivity, improved employee retention, and stronger business performance. Highlighting these benefits reinforces the importance of development initiatives.
Identify, track, and share metrics that demonstrate the impact of coaching and leadership development on business outcomes, such as enhanced customer satisfaction, reduced turnover, and increased employee engagement.
5. Incorporate a SMART Framework
Effective goals are specific, measurable, achievable, relevant, and time-bound (SMART). This framework provides clarity and focus, making it easier to track progress and assess outcomes. For instance, rather than setting a vague goal like “improve team leadership,” a SMART goal could be: “Provide coaching to X% of department leaders by Q3, leading to a X% increase in team engagement scores.”
Break larger development goals into smaller milestones, creating clear metrics and deadlines for each particular goal.
6. Monitor Progress & Adapt
Coaching and leadership development initiatives require regular evaluation to ensure they remain effective, relevant, and—most importantly—impactful. Create a system for tracking progress, celebrating successes, and addressing gaps. And don’t be afraid to change priorities based on unforeseen challenges.
Schedule regular reviews of coaching and leadership initiatives and use findings from these reviews to refine strategies if needed.
7. Lead by Example
As a leader, your commitment to personal development sets a powerful example for your healthcare team. By engaging in coaching and pursuing leadership growth, you demonstrate the value of continuous improvement and inspire others to do the same.
Share your personal development goals and progress with your team. Encourage open dialogue about growth and celebrate achievements together.
Empowering Leaders, Driving Success
Investing in coaching and leadership development is one of the most impactful ways healthcare leaders can drive individual, team, and organizational success. By fostering a culture of growth, aligning efforts with business objectives, and demonstrating a commitment to excellence, leaders can unlock their teams’ full potential and achieve transformative results—all with a measurable ROI that directly strengthens the organization’s bottom line
If you’re ready to take your healthcare leadership to the next level or want to explore how VMG Health’s approach sets us apart, connect with our industry experts and discover the VMG Health advantage.
