You’ve heard of mentoring and perhaps even know someone who’s been mentored, but is it really something you want to invest your time in? As a company, should you spend time and invest resources encouraging mentoring, or is it something you should leave for your employees to figure out for themselves?
To help answer this question, today, we’re going to explore five ways mentoring is beneficial to your business.
1. Employees Engage in Your Business
When you have a mentoring program, it’s been proven that your business will have far more employee engagement. How engaged are your employees right now? Studies show that 90% of employees with mentors will be engaged with the business they work for, which means benefits like higher morale and higher rates of productivity come as standard.
2. Training the Next Generation of Managers
By working with mentors, your employees will develop skills that will help them become the next managers of your business, and mentors are a key part of this. This works because mentors help inspire confidence in employees, boosting both their confidence and the quality of their work, which in turn helps them transform into very capable managers.
3. Retaining Your Talent
Statistics show that the top talent within your business will work around 21% harder than their peers and will bring around 91% more value to your organization, and if that’s not worth investing in, then I don’t know what is. By investing in your top talent through mentoring, you’re showing them that they’re valued and you care for them, thus cementing that they’ll stick around and won’t disappear to work for your competition.
4. Highly Trained Staff
Since your employees are being mentored and are more engaged with your business, this means they’ll be much more proactive in bettering their skills and improving their abilities. Over time, this means your employees will be highly trained and far more effective at their job than they are currently.
This works regardless of whether you’re working with bottom-up mentoring programs or even the more traditional forms of mentoring that you might be used to. The better trained your staff are, the better off your business is going to run. Improving your employee experience, which you can do using services like ServiceNow HR, is only going to benefit everyone involved.
5. Strengthen the Culture of Your Company
Having a mentorship program in your company means that your employees and everyone else who knows about your company will clearly understand that you’re investing time, energy, and resources into the talent you have, and this does wonders for your company culture.
People love to be recognized for what they do, and boosting them up even further makes your company look like a good company to work for. This increases morale, productivity, and reputation. This brings even more great talent to you and helps retain those who work for you already.
There are no denying the benefits that a mentoring program will bring to your company, and if you’re still on the fence, then it’s highly recommended that you dive in even deeper and see what kind of opportunities are available to you now, and therefore what actionable steps you can take next.