When it comes to investing in human capital, mentorship is an effective method of preparing the next wave of leadership within your organization. The passing along of intrinsic knowledge and helping to transform mentees is such an important action that can set organizations up for long-term success. If you think back on your career over time, there are probably several people that have played an influential role in who you have developed into today. The amazing part is that you, as the mentee, have also contributed to who they are as well. Why? Mentorship is a two-way street. The best mentor/mentee relationships have a fluid and open line of communication wherein ideas, knowledge, success, and struggles are shared.
Here are just a few profound transformations that can result from a mentorship program:
1.) Career Trajectory: "Compared to non-mentored employees, mentored employees received higher compensation, a greater number of promotions, feel more satisfied with their career, feel more committed to their career, and are more likely to believe they will advance within their career."-Successfactors.com These are all very valid and significant points that can shape an employee's time with an organization. Imagine the difference 5, 10, 50, etc. mentored employees could make within your company. These positive interactions are not just going to influence that mentor/mentee, but are sure to transcend the organization.
2.) Employee Engagement: Engagement, experience and company culture all go hand-in-hand. A recent Successfactors survey showed that "of 170 sales and marketing professionals, employees who were part of a mentoring relationship were found to have significantly higher engagement scores than employees who were not." The reasoning behind this is very straight forward; these employees are going to feel a greater sense of ownership in their company. Simple communication with leadership is going to boost the feeling of involvement and job satisfaction. It's much easier to feel a sense of purpose within your company when you understand the impact your work makes and when you feel your voice is being heard.
3.) Employee Retention: If you feel good about your company's leadership and you feel a sense of purpose, leaving for another job becomes a much more difficult decision. A Successfactors study demonstrated how employees feel about mentorship: "When over 5,000 newly hired sales representatives were surveyed, those who indicated that they were part of a mentoring relationship reported significantly higher organizational commitment and lower intentions to leave their organization than did non-mentored respondents." Many times employees leave because they simply feel they cannot communicate with leadership about where they are and where they want to go. It's not about complaining, it's about mapping the road to success and learning from those that have walked the path before. There are plenty of studies to show that when employees feel valued, they are more likely to stay. Mentorship helps bridge that communication gap.
Now that we've set the stage on why these mentorship programs matter, our next blog on this series will help you to begin organizing a program for your company with tips and guidelines to avoid pitfalls. Keep an eye out for our next post! If you have any questions, feel free to send us a note at info@work2live.com or fill out our contact form here!
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