There’s nothing like helping someone grow and realise their full potential – mentoring is often as rewarding for the mentor as it is the recipient, in many respects.
However, mentoring is not something that just brings personal satisfaction for both parties – it can help reduce staff turnover, promote growth and even ensure the future of a business.
As such, mentoring programmes are becoming increasingly popular in workplaces, especially in the US where 71% of Fortune 500 companies offer one, according to Chronus Corporation.
UK businesses should follow suit. If you’re not sure what a mentoring programme would bring to your business, here are four benefits to bear in mind:
- Better educated employees
Pit a well-trained team against one that has not been suitably educated and you will only ever get one winner. Mentoring is all about ensuring employees can complete their work with knowledge of the field and their position. A good mentor will help them to this point in a short period of time, getting employees working productively sooner than they would if they had to learn for themselves.
- Reduced staff turnover rates
All employees want to feel like they are able to give all that they have to a business. However, without the necessary training and knowledge, they simply won’t be able to show the best of themselves. If they feel like they aren’t being utilised to the best of their abilities, they’ll be more inclined to look for a business that will.
- Creates more leaders
There will come a time when you’ll need one of your employees to step up to the plate and lead – maybe a project or a team or even take the helm. If there’s nobody in-house to make the leap, you’ll be forced to look outside the business, which can be a costly and unpredictable undertaking. Mentoring programmes can create more leaders and give leadership opportunities to those employees that are loyal to your business and know it inside out.
- Saves time
When a task or project runs into problems, it can be difficult for employees to know where to turn to get a quick and efficient answer. By implementing mentors, employees with questions or concerns can look straight to their mentor for a resolution, reducing the time it takes to get tasks finished and improving productivity. Cross generational mentoring can also be highly effective in improving cohension and communication.
Mentoring is a win/win for any business. We believe that mentoring is the key to taking you and your business to the next level of the journey to achieve your personal and professional vision.