The benefits of having a mentorship program in any line of business are vast. According to the Wharton School of Business, an effective mentorship program in the workplace increases your likelihood of retaining high-potential talent. Even in today’s professional environment where employees are more likely to jump to another organization than ever before, coaching efforts are likely to pay dividends for your organization and drive retention of your highest performers. A 2014 report by research firm i4cp, found a positive correlation between establishing a corporate culture and organizational performance. Similarly, potential upsides include improved employee satisfaction, increased spread of information and knowledge sharing, and career growth through succession planning.
Business Director Ray Perez and Training Manager Tony Kennetz discuss coaching strategy
In July of 2019, DCM Services (DCMS) launched our first ever Corporate Coaching Program. Developed by a cross-departmental group of DCMS management and subject matter experts, the program aims to create opportunity for the development of employees, outside of the standard development plans they may have within their current reporting structure. The goal of our Corporate Coaching Program is to position both DCMS and our employees for future growth, leading to new engagement and employee retention for both coaches and mentees.
Based on feedback from participants, we are continuously looking to enhance the Corporate Coaching Program as we move into 2020. While our pairs have enjoyed a sense of freedom, we have also developed additional structure based on feedback. Responding to this need, we’ve begun instituting concrete milestones based on the pairing’s familiarity leading up to the program’s formal beginning. Coupled with these checkpoints, the corporate coaching program was designed with flexibility at top-of-mind. Our hope is to preserve the organic nature of building a relationship, while providing coaches the guidance needed for mutual growth.
Chief Executive Officer, Tim Bauer had this to say about his corporate coaching experience with his mentee Ty Riha, “It has been really fun to get to know Ty personally. But it has been even more fun to see the enthusiasm Ty has brought to the program. Ty asked that I take him out of his comfort zone. I told him I would be happy to do that. We decided to work on several small projects instead of just one larger project at the end of the program. Ty got better with each project. I brought Ty to one of the Consumer Relations Consortium quarterly meetings. He did so well at that meeting that I am sending him to the next meeting by himself. That is amazing progress. ”
As our pilot comes to a close, and we kick off our second group in quarter one of 2020, we are very excited to see where the program and its participants take us next. If you’ve wondered if there is a place for mentoring in your organizational culture, know that the answer almost certainly yes.
About the authors
Since joining DCM Services in 2008, Tony has executed on the organization’s core values in several roles. After 3 years as an Account Representative on behalf of several clients, Tony acted as the Senior Quality Assurance Specialist for 5 years as a member of the organization’s compliance department. In 2016, he assumed a new role in managing DCMS’ new hire and on-going training initiatives. He strives to ensure the organization is providing a top of the line learning and development experience by collaborating with stakeholders and introducing new programs, including DCMS’ newest opportunity, Corporate Coaching.
Krystina has 15 years of experience in the receivables industry, ranging from the early stages of revenue cycle and pre-collect billing to patient/customer receivables and collections. Her experience provides unique insight and the ability to collaborate with over 100 health systems, provider groups and clinics, the nation’s top telecom and utility providers, and many auto and financial service organizations. Krystina currently leads DCM Services account management strategies, programs and initiatives. Krystina is an active member of the Healthcare Financial Management Association (HFMA) and is a Certified Revenue Cycle Representative (CRCR).