As the world of work continues to undergo a radical transformation due to AI disruption, medtech employers increasingly look to retain, upskill and redeploy great talent they already have. In the MPO March Talent Matters column,¹ we pointed out organizations are adapting by embracing a skills-based mindset that prioritizes people’s inherent abilities and potential. This has led to an abundant pool of high-quality internal candidates for some medtech organizations.

Giving people technical skills, however, is not enough. Two cornerstones of an effective and productive workforce are satisfaction and engagement—goals that are increasingly challenging to maintain and improve. In fact, Gallup found in 2024 that just 31% of U.S. employees are engaged at work, the lowest level in a decade.² Further, among workers 25 and younger, just 57% are satisfied with their job, according to the Conference Board.³

Workforce research has long demonstrated that growing people professionally—especially soft skills such as problem-solving or leadership—is a key accelerator of satisfaction and engagement. This is one reason why organizations are increasing their investments in learning and development.⁴ While developing an effective curriculum for workers is important, many device makers often fail to provide another enabler of workforce performance: career coaching. 

New research conducted by the International Coaching Federation (ICF) in conjunction with Randstad Enterprise found that a majority of talent leaders say career coaching has a very positive effect on job satisfaction and retention, and that’s one of the top reasons they offer such services at their organization. In addition, some organizations credit coaching support with improving satisfaction and a sense of belonging among their workers. 

Device makers who offer career coaching create many benefits for both workers and their organization. In addition to professional growth and skills-building, the service has been attributed with improving confidence, aligning development to each person’s ambition, and leadership preparedness. Moreover, organizational cohesiveness improves along with higher productivity and enhanced innovation. There is compelling evidence that effective, formally organized coaching has a long-term positive impact on business.

While many companies offer this service to executives and high-potential individuals, just a small minority make it available to their broader workforce. Only recently have companies begun democratizing career coaching. Even in these examples, however, programs are limited in scope. For instance, one global software company expanded its offerings to more than 70,000 employees, but only those within its sales division. While nurturing the people most responsible for financial success is a good start, there is compelling evidence that the professional development of every employee has an impact on the bottom line of a business.

Growing Evidence of Payback

To understand why and how career coaching is making a difference, the ICF and Randstad Enterprise extensively interviewed employers investing in these services. We wanted to document how they are approaching career coaching and what success looks like. By understanding prevailing best practices, the results of different approaches, how workers are engaged with programs, and other important considerations, the research aims to help companies better execute on their people development efforts.

What emerged is agreement that broad-based career coaching is viewed as a comprehensive fulcrum for achieving myriad development goals. Companies believe employee development—not just executives or high-potential individuals—leads to benefits ranging from enhanced productivity to strengthening their leadership talent pipeline to instilling a supportive organizational culture. While hard data that shows the exact return on investment is challenging to compile, feedback from program participants indicates a payoff that is undeniable.

Other factors considered include the number of participants engaged in coaching sessions, employee performance, such as leadership actions and taking initiatives in their work, and monitoring the effect on organizational culture. These indicators clearly link career coaching utilization to better business outcomes. 

These are exactly the benefits medtech organizations have prioritized in recent years as the skills gap and retention challenges grow. Career coaching is a perfect complement to the learning and development programs of device makers seeking to drive greater innovation and productivity. It’s also effective at raising engagement and satisfaction as talent seeks to ensure their skills are marketable and meaningful in their jobs. 

The benefits to participants are many and varied. For instance, wellness continues to be a concern for many HR leaders as the workforce faces elevated levels of stress and burnout. One common reason why employees sign up for coaching sessions is to better manage their work-life balance and improve well-being, our research shows. Another is to seek help with navigating uncertainty or organizational change. 

A Strategic Win for Device Makers

There is no question career coaching provides many wins for both talent and their employers. Yet, few companies offer this service to a large percentage of their workforce. Concerns about costs, building a compelling business case, and establishing clear goals present considerable barriers for many companies—none of which are insurmountable. To justify investments in career coaching, device makers need to focus on the outcomes of a better prepared and engaged workforce. Following are three areas to consider.

1. Establish Clear Goals and KPIs in Your Program

Do you want to better align people’s ambitions with the needs of the organization? Is wellness a concern requiring intervention? Is improving morale and engagement a priority? By establishing clear and achievable goals, your company can go on to identify the indicators that accompany success, such as performance review outcomes or employee survey scores.

2. Integrate into Your Overall Talent Strategy

While coaching solutions can be built or purchased as a standalone program, it’s critical to do so within the context of an overall talent strategy. For instance, providing training to move workers from legacy to new therapies or diagnostics is necessary for market shifts, but optimizing success requires coaching to help them adapt and thrive. People want support in their career decisions and direction on how to fulfill their professional ambitions. From there, provide aligned learning and skilling support, and help them find new career opportunities internally.

3. Start Small but Think Big

Career coaching can benefit all employees, but there is no need for you to include everyone initially. Many employers already have executive programs, so a more practical approach is to incrementally add workforce groups to it. A paced approach can be both cost-effective and impactful. 

Conclusion

As device makers enter into a new world of work during this time of transformation, preparing your workforce will be pivotal to thriving in this environment. Ensuring they are engaged, excited, and ready for the next steps in their career journey should be a priority for every employer who wants to build an exceptional talent strategy.

References

1. tinyurl.com/mpo250951
2. tinyurl.com/mpo250952
3. tinyurl.com/mpo250953
4. tinyurl.com/mpo250954

MORE FROM THIS AUTHOR: Building a Talent Pipeline from Within to Address Shifting Business Imperatives

Ruby van den Hoff is the managing director of EMEA-based global accounts and life sciences for Randstad Enterprise. She works with Fortune 500 companies to develop and deliver solutions that improve and drive strategic access to talent. van den Hoff has more than 15 years of experience in recruitment and workforce consulting with major global clients and has worked for more than 10 years delivering contingent and permanent solutions for major life sciences companies. The emphasis has always been on improving the quality of her clients’ talent acquisition strategies.