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How to build a coaching culture Logo cgma

  Paul Gosling |   Free |   Jun 2018 |   FM magazine

Mentoring and coaching are seen as an integral part of the learning process. However, research suggests young finance professionals seem to be short of both. This article offers advice under five headings ranging from having the right commitment from the top, identifying suitable coaches and mentors, measuring performance as to progress, establishing goals to ensure consistency and regular communication with all those involved.

Topics covered:
  • Management accounting: Leadership: Coaching & mentoring, Advanced

4 Comments/Reflections

Amrit Jayaweera

Amrit Jayaweera Oct 2019

The idea of coaching and mentoring is currently being done in my work place. As a senior manager I get involved in coaching and we can see the value of this to the new generation employees.

They need to understand the business, business process, get an overall understanding of other areas of work/depts. etc is important. This also provides a stepping stone for other areas of interest as well.
Kathryn Price

Kathryn Price Aug 2019

I agree with the findiongs in this article and I am very lucky to work for a firm that not only advocates coaching and mentoring. When you request a mentor they look to make sure they and from a different practice area to enable your individuality to shine through.
Chen Bin

Chen Bin Apr 2019

To mentor the next generation is important. It is more important to develop a coaching culture.
Andrew Ritchie

Andrew Ritchie Feb 2019

54% of organisations in the top third for financial performance provide formal mentoring.  

This statistic is interesting but doesn't prove causation, although only a third of organisation provide formal mentoring. Whether the mentoring itself makes the difference is a good question but the culture of companies that provide mentoring would be interesting to understand.

I like the idea of a coaching culture that stretches in all directions. Older leaders need to be open to coaching from their younger team members as well as traditional coaching from a position of experience.

Being seen to be open to learning from employees demonstrates a willingness to learn and an openness to new ways of doing things, new ideas, new technology and different views on all areas of the business and industry.

"The global leadership study suggested that the culture of collective leadership engendered by the coaching culture creates a greater probability of a strong leadership bench, lowers the risk of leaders leaving, and increases the rate of engaged leaders."

My personal experience is that working with a mindset of being coachable is the best way of learning. My best leadership development has come from observing, even mimicking the behaviours I've seen in the best leaders around me and this has come from people more senior, less senior and peers. Always be looking for ways to improve your leadership capability.

It is possible to hire for coachability, ask questions during the process that draw out peoples willingness to learn and be challenged on their belief. Hiring coachable people is a critical attribute in recruitment.