A case study showing how one company accelerated success with a coaching culture initiative:
I am so proud to have supported and nominated AEON Vietnam to win the prestigious ICF Coaching Impact award for Emerging Organizations. This award celebrates their commitment to shifting to a coaching culture to achieve outstanding measurable results in productivity, engagement, retention of top talent, and market recognition.
AEON Vietnam is a retail company. They used the power of coaching to rise above the fear of the pandemic and instill hope and enjoyment throughout the organization. They shifted the hierarchical mindset by teaching and inspiring leaders to embrace a coaching approach with the help of Dr. Peter Chee and ITD World.
Their employees were accustomed to a routine, following instructions, but their daily interactions with hundreds of customers demanded quick thinking and problem-solving. Traditional, step-by-step training wasn’t fast enough. Coaching emerged as the solution, empowering individuals to learn from experience and rapidly develop the necessary skills.
The organization’s focus wasn’t solely on individual growth. Teamwork is paramount. Coaching became the bridge, breaking down departmental barriers and fostering clear communication across functions. This synergy led to significantly improved results.
The market is also a constant challenge. New competitors emerge daily. Just as the company was poised for growth, the pandemic hit. This company faced a double threat: maintaining business continuity while ensuring employee well-being. This crisis became a catalyst for transformation, pushing them to boost innovation, strengthen collaboration, and keep spirits high during these difficult times. Employee retention, engagement, and well-being were brought into focus.
The new leadership coaching behaviors created trust and evoked the courage for all 5,000+ employees embraced the changes. AEON Vietnam also created a platform where all employees can register for coaching at any time, with no involvement from their managers, and personally select from 14 credentialed external coaches and eight trained internal coaches. Adding group and team coaching to the mix, AEON Vietnam enhanced cross-departmental collaboration which led to their impressive results in productivity, engagement, and happiness.
Now, as they emerge from the pandemic, the talent landscape has shifted requiring diverse perspectives and skillsets. Coaching remains their key strategy, fostering individual development and enabling everyone to adapt to this dynamic environment.
Results: Employee retention rose by 3.6% from 2021 to 2023 while the turnover rate decreased by 2.44%, and team high-performance scores jumped by 12%.
THE ROI OF A COACHING CULTURE
Investing in a coaching program paid off in multiple ways for this organization. Managers themselves became skilled coaches, leading to a noticeable improvement in employee satisfaction with training programs (an 11% increase in just two years!). This empowered workforce got busy – in 2023 alone, employees at all levels spearheaded a whopping 86 successful projects, generating the equivalent of over $577,000 in sales!
Building talent from within proved to be a smart financial move as well. By promoting from within, the company filled several key positions – six division leaders became line managers and two store managers rose to regional general manager roles – between 2022 and 2023. This approach saved the company a significant amount (over 200% compared to hiring externally).
But the benefits went beyond the bottom line. Feedback from coaching recipients revealed a deep appreciation for the support and guidance they received throughout their careers. Most employees reported feeling more engaged with their personal development goals and action plans, and many achieved significant career advancements despite facing challenges.
An independent survey on workplace happiness further supported these positive trends. Employees expressed high satisfaction with the company’s culture of development, its core values, and its leadership. Interestingly, the survey also revealed a noticeable shift in management style over the past three years. Managers are now more likely to use open-ended questions to unlock employee potential, actively listen to their teams, and demonstrate greater empathy.
Coaching has been a game-changer for our workforce and organization as the following:
- Market Recognition: The organization’s commitment to coaching has demonstrably enhanced their image. They have been recognized by prestigious awards like the Top 100 Companies to Work For, Top Vietnam Workplaces (Retail/Wholesale/Trading), and the HR Asia Best Workplace Award in Asia in 5 consecutive years. Notably, they are the first and only Vietnamese company to win The Marshall Goldsmith Coaching Culture Excellence Award.
- Retention and Performance: The company’s investment in coaching has yielded impressive results. Employee retention rose by 3.6% from 2021 to 2023 while the turnover rate decreased by 2.44%, and high-performance scores within teams jumped by 12% in 2023 compared to 2021.
- Achieving Breakthrough Goals: Since 2021, the company has undertaken a comprehensive project focused on teamwork and achieving ambitious goals in four key areas: promoting private brand, increasing customer acquisition, strengthening our e-commerce business, and elevating our brand image. Coaching played a central role in this project. In 2022, leveraging the power of coaching, the company achieved exceed sales budget.
This is a testament to how coaching has empowered our workforce, fostered stronger teams, and ultimately fueled the organization’s success. It’s more than just training; it’s a culture shift that has delivered measurable results.
AEON Vietnam is now actively helping other Vietnam businesses to cultivate a coaching culture to elevate their country’s success. I was thrilled to stand with them to receive this award.