Ever found yourself echoing the end-of-year corporate chorus for "more training"? Buckle up, because Tim, our expert L&D consultant, throws a wrench in that all-too-familiar refrain. He takes us behind the scenes of a wealth management firm's moment of reckoning, where traditional training is put under the microscope. Amidst a backdrop of sales challenges and the clamor for additional negotiation skills courses, Tim's candid insights spark a pivotal shift in the conversation, urging us to question if what we're really craving is not more training, but more effective coaching and mentoring.
In a narrative that unfolds with the tension of a boardroom drama, we witness how Tim's thought-provoking questions cut through the noise, shifting the focus from training to empowerment. This episode isn't just a story about a meeting gone sideways; it's about the hard truths and responsibilities leaders must face when cultivating their teams. So, if you're ready to confront the conventional with an appetite for change, join us as we dissect the real catalysts for professional growth, and why sometimes, the best answers come from asking the right questions.
Welcome to Coaching Conversations
We have created a NEW service called Coach 2 YOU where leaders can assist short targeted 7 to 21 day programs to coach their employees without ANY of their own time to truly partner and assist in the coaching process. Get more info here: https://form.jotform.com/233504052497051
Checkout our Approachability & Coachability series where we use a webinar-based coaching approach to develop all employees to become approachable and coachable. This leads to better teamwork for leadership and organizational culture improvement
Ever found yourself echoing the end-of-year corporate chorus for "more training"? Buckle up, because Tim, our expert L&D consultant, throws a wrench in that all-too-familiar refrain. He takes us behind the scenes of a wealth management firm's moment of reckoning, where traditional training is put under the microscope. Amidst a backdrop of sales challenges and the clamor for additional negotiation skills courses, Tim's candid insights spark a pivotal shift in the conversation, urging us to question if what we're really craving is not more training, but more effective coaching and mentoring.
In a narrative that unfolds with the tension of a boardroom drama, we witness how Tim's thought-provoking questions cut through the noise, shifting the focus from training to empowerment. This episode isn't just a story about a meeting gone sideways; it's about the hard truths and responsibilities leaders must face when cultivating their teams. So, if you're ready to confront the conventional with an appetite for change, join us as we dissect the real catalysts for professional growth, and why sometimes, the best answers come from asking the right questions.
Welcome to Coaching Conversations
We have created a NEW service called Coach 2 YOU where leaders can assist short targeted 7 to 21 day programs to coach their employees without ANY of their own time to truly partner and assist in the coaching process. Get more info here: https://form.jotform.com/233504052497051
Checkout our Approachability & Coachability series where we use a webinar-based coaching approach to develop all employees to become approachable and coachable. This leads to better teamwork for leadership and organizational culture improvement
For the past probably three or four decades, we've had this challenge and this is the challenge you know. Every year I will sit in some board meetings or L&D team meetings and I'll even meet with an executive team, depending on the company and where we've worked with that particular company. We always hear this at the end of the year, no matter what group we're in HR executive team, training team, talent development team, l&d team, it doesn't matter. We always hear we need more training. Training is not the problem. Now, what happens is if a leader absolves him or herself of coaching and mentoring, which is two of the greatest forms of reinforcement for learning, and say we need more training, what they're doing is something called the transfer of ownership.
Speaker 1:
Let me tell you a quick story. This happened with a wealth management firm I've told this story before and I sat down. I was invited by the CEO of this company and the CEO said would you sit in? We're struggling with some objections, we're struggling with some sales. I would love to get your opinion. Could you come in and observe? And I said, sure.
Speaker 1:
Now, when someone says come in and observe, that does not mean Tim, interrupt, insert yourself, which I struggle with because I want to help. And so I just sat there and all of a sudden the CEO turns to me and says well, tim, you're kind of quiet. And up to this point the head of sales the VP of sales at this wealth management firm said we need a training course on negotiation skills and objection handling. And the two ladies from the training department are taking notes feverishly, they're writing down everything they need. And I am just cringing. I'm just like this is ridiculous. Of course, I don't say anything. The CEO says well, tim, you're awful quiet. You know what's going through your mind. I said well, you wanted me to observe, I don't want to insert myself. And the VP looks at me and says no, no, I'd be open to your feedback. I said nah, I don't think you will. I said I don't think you're going to like what I have to say. And he said no, no, I really want to hear it.
Speaker 1:
So I started talking about the challenges with training. I actually forget what I said in the beginning and then I started to ask some questions and finally this VP said to me goes well, can I ask you something? Do you have much experience in wealth management services? And I want everyone to really hear this. That is such a ridiculous response. Remember, he's the one who called the meeting because he had needs. The CEO asked me in and that's a deflection, what does industry experience have to do with it? And so I said no, I really don't. And he said okay, and he started laughing. He goes well, I think when you come in to sell a company, you should really be prepared for that question. And he started laughing. I said well, wait a minute. I said are you under the impression I'm in a sales meeting? He said yeah.
Speaker 1:
I turned back to the CEO. The CEO goes no, tim is not here to sell us. I asked him, as a favor, to come in here and listen to see if he could help us. So I looked back at the VP. I said well, now I'd like to really dive into this, if you're cool with it. I could see the air go out of him. He said well, sure. I said how long have you been doing this? He said I think it was like 17 years. And I said wow, you have a lot of experience. He said I do and I go, and you're the one with the problem. And the CEO started smiling. The two ladies in training started smiling. The VP was not smiling and I said look, I'm going to ask you a question and I'm going to put you on the spot, because I feel a little put on the spot here and I think I've been labeled. I said I was here to help and I'm happy to help.
Speaker 1:
What is your top objection your people face? He said we have the highest fees in the industry. I said great, what do you have your people saying and doing right now, specific to the response system you would like them to say in that moment? He said well, that's why we need a training department. I said or training program? I said so you literally have your people saying, oh, we're going through a training program. What do you have them saying in that moment? He said you know, I'm really getting irritated with this. I go that's okay, because we're going to get to the heart of this. Training is not your issue.
Speaker 1:
I turned back to the two ladies. I said ladies, I don't mean to undermine you, I'm not trying to be offensive. Do you have any wealth management experience? Have you ever sold wealth management services? They go no. I said so now I'm going to go back to you, mr VP, and share.
Speaker 1:
They answered the same way I did with the objection you had for me, which was my industry experience. Yet you want them to create a training program and the CEO sits forward. He goes boy, this is interesting. And I said what do you have them saying and doing? Third time, he would not answer me.
Speaker 1:
I said okay, I'm going to try this another way. How often do your people practice? He said we don't have time to role play. We're on the phones all day long. I said so you're going to do a training program, you're going to come back. You're not going to practice it, you're not going to have it reinforced. You can't even define expectations which, in all due respect, ladies, you probably don't know what those expectations are because he can't define it. You've never sold wealth management services. This is the training syndrome. So the reason I bring all of this up, I think the same thing is going to happen with leaders in AI. We're going to say well, just let's have them sign on to AI. Remember, we need learners who want to get better. We need learners who are willing to practice their skills. Here is my prediction their skills, here is my prediction. Coaching is going to accelerate because AI is going to prompt more and more, I would say, strenuous and important conversations.
