Effective mentoring programs also provide organizations with a number of advantages, including:
- Projection of a strong and positive employer brand.
- Effective succession planning.
- Greater employee loyalty.
- Increased retention.
- Promotion of underrepresented candidates.
- Advancement of talented individuals.
In today’s workplace, research across a wide range of professions demonstrates that employees who are involved in mentoring relationships have higher levels of job satisfaction and higher levels of commitment to their organization. Ideally, employees (protégés) should perceive mentoring as an organizational priority of executive management. As a developmental approach to workplace learning, mentoring should be viewed as a way to sponsor educational and training projects, activities, and experiences that benefit both the staff and the organization.
Studies consistently show that employees who have mentors have high retention rates and are more productive than those who do not. A well-designed mentoring program at the mid-career level can help employees moving up rather than on and save companies from recruiting costs and the loss of leadership development.
The goal of a mentorship program should be to improve the work effectiveness and enhance the probability of an employee’s success. Successful mentorship programs aid in developing the growth and strategic direction of the organization through succession planning. Effective mentorship programs also aid in the development of leaders while simultaneously fostering healthy work relationships.
By investing time to carefully construct mentorship programs at all levels of the organization, employers will ensure that they are able to serve employees’ training and development needs effectively while also meeting internal growth and strategic needs.
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