Simple… Mentoring Saves Money, Retains Workers, Builds Leadership, and Grows Talent.
Reduced turnover and recruiting costs
Mentoring relationships can help retain talented people because they have a stronger commitment to the organization. Talent remains much less likely to leave if they feel supported in their work and made aware, for example, of new opportunities that their mentor suggests. It’s not unusual for organizations to hear that their strong mentoring program attracted new talent. Research has revealed that a major number of attrition is caused due to conflict in work place, which we shall address through expert coaches and mentors.
Helping employees learn skills and gain knowledge
Mentoring is an excellent example of informal learning, which is the way people learn 80% of the time in the business world. A mentoring program creates a learning culture in an organization wherein mentees get the opportunity to learn not only from a seasoned and professional mentor but also from amongst the mentees. It is a well-proven fact that people grow more with human interaction on the job, provided it is in the right direction.
Assistance in career growth, building leadership capacity, and increasing bench strength
Mentees can put their learning on a fast track with the help of effective mentoring. If they’re headed toward higher management positions, for example, the mentoring may focus on how to become a better leader and manager. When the mentor shares her own experiences, gives advice, and suggests readings, or other experiences to help mentees move toward their goals, she builds prospective leaders in the process. Enhanced bench strength in company leadership ensures successful succession planning and increases productivity.
Ongoing support and encouragement in the job
Strong support remains key to mentoring relationships. Mentees receive straightforward and constructive feedback from their mentors. Mentees develop trust that they can raise questions or concerns in confidence because a mentoring relationship is not a supervisory or reporting relationship. They know that their confidential feelings, which are crucial for their effective functioning, are safe with the mentor, who is a professional coach.
Encouragement to achieve new goals and explore careers
Mentors help their mentees determine how to make informed choices about their careers. Ideally, they listen carefully, ask questions, and even identify skills gaps to cause the employees to think differently or more broadly about their career success factors. Thus, mentoring works as a useful sensitisation tool for the mentees to be career focussed.