Why your company needs a mentoring programme?
Mentoring allows companies to take advantage of their greatest resource - employees. Having mentors isn’t a new aspect of business, yet there are plenty of companies that shy away from having a dedicated programme.
Developing talent not only affords people a chance to grow in both a business and personal sense; it offers companies their own growth and provides the ideas of tomorrow. Management that is willing to invest in the future of its staff also helps to create a positive company culture.
Here are some more reasons why businesses should invest in mentoring programmes.
#1 It is a support network
There is always talent coming through the ranks within companies. But those employees aren’t necessarily given the tools they need to succeed because of the fast-paced world of business. It’s easy for people to be left behind - even if they have the skills.
Mentoring adds a support network that gives employees the confidence to succeed in their role. There is a big difference between being told and being taught. The latter lends itself to a more well-rounded understanding and a greater depth of knowledge.
#2 Enables growth at a faster rate
Having someone on hand to guide you while you’re still getting to grips with your current role increases the chances of faster progression. This is especially helpful when compared to being thrown straight in the deep end and feeling the pressure cooker.
A study from the American Society for Training and Development revealed that 75 percent of executives credited their mentors with helping them reach their current positions. Official mentoring programs provide the chance for employees to learn and develop without total reliance on managers.
#3 Increases job satisfaction
Around 35 percent of staff who don’t receive mentoring within the first 12 months look for another job. Those who benefit from mentoring not only receive a high level of guidance; they also have an all-round better work experience.
A bad hire stretches resources and causes companies to lose valuable time. Staff that are invested in their personal development are more likely to look favourably on companies with mentoring programme.
#4 Return on investment
Covering the costs for a dedicated mentor programme is likely to save money in the long run. Developing the talent from the ground level decreases the need to make expensive top-level hires further down the line.
The benefits are twofold: businesses start seeing the fruits of their initial investment through long-term gains. Those gains are their staff excelling in their roles and attaining more senior positions.
Mentees learn how to speak up and communicate their ideas in ways that will be heard. All of this learning lends itself to the bigger picture and becoming more ingrained in the fabrics of the company.
Businesses only progress through innovation. They need the ideas of tomorrow to keep things fresh and progress.Everyone thinks they have the next big idea, but sometimes it can be hard to coerce those thoughts productively. Mentoring helps people convey their general ideas and feelings to how companies can progress more efficiently and with clarity.
Mentors help staff turn their concepts into bona fide business ideas, which support the company's progress. Higher-ups in companies not only benefit from innovative ideas that push the business forward.
Good luck with your mentoring programme
Every business should explore the concept of an inclusive mentoring programme. In an ideal world, managers will act as the perfect mentors for their staff. But in a high stakes business environment, doing so isn’t always possible.
Mentorjam’s holistic approach to mentoring provides specific tracks that champion employee development from “hire to retire”. Use one of our track templates or simply create your own path to successful mentoring!