7 Ways Mentoring Can Benefit Your Organization
Mentoring can boost career outcomes and improve overall job satisfaction. Many people do not know where to start in mentoring, so having found this insightful article can at least be of help to enlighten business owners on choosing where to start. Here are some snippets:
When it comes to mentoring, the benefits to the mentor and mentee are clear. But are there any upsides for the organizations that introduce these programs? In this post, we’ll share seven ways that mentoring can be beneficial for your company.
7 ways mentoring can benefit your organization
1. Develop new managers
While it’s clear that managers play an important role across various organizational functions, many managers aren’t able to maximize their potential because they’re not being given the tools or support they need to succeed. That’s why we encourage companies to invest in mentoring programs, which have been shown to increase skills for the job, boost confidence, and improve work quality. This not only sets your managers up for success but also leads to significant benefits for your organization.
2. Retain your high potential talent
Your high potential (HiPo) employees work 21% harder than their peers and bring 91% more value to the organization compared to non-HiPos. Knowing this, it’s easy to see why it benefits organizations to retain as many of their top-performing employees as possible. But how do you get them to stay?
Research shows that a lack of mentoring is one of the main reasons your most talented employees decide to leave. Investing in a comprehensive mentoring program can give your HiPos the long-term support they want and encourage them to stay at your company – which results in better outcomes for your business.
3. Foster diversity and inclusion
Many studies point to the fact that mentoring programs can support your diversity and inclusion efforts – whether that’s by retaining more of your underrepresented employees or preparing them for future leadership roles.
Cultivating a diverse workforce doesn’t only benefit employees – it has also been found to boost both innovation and financial results for the organization. That’s why large companies like IBM, Ernst & Young, and Kraft Foods have mentoring programs dedicated to increasing diversity. If you want to see similar benefits at your company, a mentoring program is a good place to start.
Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on 0467 749 378.
Thanks,
Robert