Probably the biggest benefit of having a successful corporate mentoring program is that it helps not only the organization as a whole, but also the individuals within the organization. Let’s take a look at the specific benefits for each.
A successful mentoring program benefits your organization by:
- Enhancing strategic business initiatives
- Encouraging retention
- Reducing turnover costs
- Improving productivity
- Breaking down the “silo” mentality that hinders cooperation among company departments or divisions
- Elevating knowledge transfer from simply “getting” information and instead transforming the process so that your organization retains the practical experience and wisdom gained from long-term employees
- Enhancing professional development
- Linking employees with valuable knowledge and information to other employees in need of such information
- Using your own employees, instead of outside consultants, as internal experts for professional development
- Supporting the creation of a multicultural workforce by creating relationships among diverse employees and allowing equal access to mentoring
- Creating a mentoring culture that continuously promotes individual employee growth and development
Mentors enjoy many benefits, including:
- Gaining insights from the mentoree’s background and history that can be used in the mentor’s professional and personal development
- Gaining satisfaction in sharing expertise with others
- Re-energizing the mentor’s career
- Gaining an ally in promoting the organization’s well-being
- Learning more about other areas within the organization
Mentorees enjoy many benefits, including:
- Gaining from the mentor’s expertise
- Receiving critical feedback in key areas, such as communications, interpersonal relationships, technical abilities, change management, and leadership skills
- Developing a sharper focus on what is needed to grow professionally within the organization
- Learning specific skills and knowledge that are relevant to personal goals
- Networking with a more influential employee
- Gaining knowledge about the organization’s culture and unspoken rules that can be critical for success
- Having access to a friendly ear with which to share frustrations as well as successes
For a free guide on how to best leverage a mentoring program within your organization, click the button below.
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