Peer Coaching: The Affordable Coaching Option

I recently conducted a LinkedIn Survey to learn more about what prevents people from hiring coaches.

It didn't come as a surprise that the number one reason preventing people from hiring is cost.

I thought to myself, "Everyone deserves to have access to a coach and every employee deserves to work for a leader who is skilled in management."

So I came up with a solution to make coaching affordable, which I'm calling Leadership Growth Circles.

Suppose...

?? You’re an executive who needs your team to solve bigger problems faster.

?? You need to strengthen the strategy skills within your leadership ranks.

?? Your team needs improved leadership agility to navigate complexity and change.

Yet, your budget is limited, which means you can’t afford to hire a personal coach for everyone on your team.

Here’s an option worth considering—peer coaching.

Peer Coaching vs. Group Coaching

Many people confuse peer coaching and group coaching. Here’s how they differ.

Peer group coaching involves individuals who may not collaborate daily and each member pursues distinct goals aligned with their functional role. In contrast, team coaching focuses on an intact team working towards a shared goal.

Five Benefits of Peer Coaching

Here are five key benefits of peer coaching.

Knowledge Sharing. Peer coaching enables the swift exchange of knowledge and expertise in a safe environment. Participants in peer coaching relationships often have complementary skills and experiences, making it a two-way street of learning.

By sharing their knowledge, experiences, and insights, individuals can rapidly gain a deeper understanding of their subject matter, develop new skills, and broaden their perspective.

Commitment. One of the most significant benefits of peer coaching is the accountability it fosters. When you commit to a group of peers, you’re more likely to follow through with your goals and promises.

Knowing that someone is there to support you and hold you accountable for your progress can be a powerful motivator.

New Perspectives. Peer coaching provides fresh perspectives and alternative viewpoints. Having an outside expert facilitating your peer group ensures your people can quickly work through issues weighing them down.

Diversity of thought can spark creative solutions and help individuals break free from entrenched thought patterns. Participants often step outside of their comfort zones and consider new ways of approaching problems.

Emotional Support. In addition to professional development, peer coaching provides emotional support. Building strong connections with peers leads to more supportive, empathetic, and understanding relationships.

Participants often find that discussing their challenges with people who share similar experiences can be reassuring. This emotional support helps people manage stress, overcome obstacles, and stay motivated.

Cost-Effective. Unlike formal coaching programs, which cost considerably more, peer coaching is a cost-effective option for personal and professional development.

Companies don’t have to hire individual coaches for each member of the team. This affordability means that more people in the organization can benefit from coaching, especially when financial resources are limited.

As the world of work continues being more interconnected, peer coaching is likely to become an increasingly important part of personal and professional development. It's an affordable investment that will yield lifelong dividends.

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Interested in bringing Leadership Growth Circles to your organization? Let's talk.