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See for yourself why employers see coaching as a top employee benefit

Professional development programs are becoming more popular.

Almost 90% of employees surveyed stated their company had a professional development program, compared to 81% in 2020 (year 1 of the study).

Most employees who asked for additional benefits did so through HR or through their direct supervisor, however, 16% stated they did so through an exit interview.

This means that exit interviews are critical to getting feedback about benefits, and that lack of benefits is tied directly to employee turnover.

Over the last three years, professional development benefits have been consistently rated as critical or close to critical by employees.

And companies that offer a professional development stipend receive higher ratings than those that do not.

Employees are concerned about layoffs.

Respondents stated layoffs as their primary concern if there is an economic downturn, and when asked if they will be at the same company a year from now, there was more consistency in employees stating they believe they will be at the same role. Most interestingly, white respondents who rated their likelihood of staying at the same company much higher last year now are rating the same as other races, suggesting that concerns of unemployment are more equally affecting all people compared to last year.

Employees believe they have slightly more power post-pandemic.

56% of employee respondents believe their career opportunities have either slightly increased or significantly increased since the pandemic.

Group coaching participants discussing strategies during a session led by a certified Terawatt coach

Terawatt 2023 Survey

Entering 2023, the workforce is in a unique position. The pandemic transformed work for many, and in 2021-2022 there was a reckoning in businesses as employees realized their power and many didn’t return to the same workforce they left during lockdowns.

In Terawatt's third annual survey, we explore these dynamics in more detail and learn that the importance of professional development programs remains, even as employees are less likely to look for a new role and have concerns about layoffs.

Looking for more? Download surveys from 2021 and 2022.

Download the 2021-2022 Research Program survey.

Download now

How does the cost of group coaching compare to traditional L&D?

•  The average L&D spend per-employee is $1,200 per year. From ATD, TD.ord
•  The corporate per-employee budget for attending a conference is $3,000–5,000.
•  The cost of replacing employees ranges from 30% to 200% of one employee’s salary.

Learn more about Terawatt’s Pricing