Mentoring programs to build a better profession

By Jan Murray on Friday 22nd Sep 2017

I recently read an interesting article by CFA institute that I would like to share around their experience of mentoring.

The CFA Institute found that in addition to being personally beneficial, mentoring is a way to help cultivate and improve a profession that you are passionate about. It is a means for transferring technical knowledge as well as an opportunity to model and promote your educational, ethical, and professional values to others in the field.

That's why it is great news that, in round numbers, 65% of respondents to a recent CFA Institute Financial NewsBrief poll reported that they have mentored fellow finance professionals. It's also good news because there is never a shortage of interest from early- to mid-career investment professionals for such career support.

One in five poll participants indicated that they have an interest in mentoring but encounter barriers to doing so.

Of those who reported mentoring experience, 15% did so as part of formal mentoring programs. At times in the past, these programs were primarily designed to help the development of high-potential employees for succession-planning purposes. But companies have found that mentoring is a good recruitment and engagement tool for all levels and types of employees and have grown or launched internal programs accordingly.

Moreover, many firm alumni and professional run mentoring programs. There are opportunities to plug into a formal mentoring structure for those who are interested.

This supports PLD's own experience as we successfully run an ever-increasing number of mentoring programs for a number of professional organisations including HFMA, ACT, ICMA and LIBF.

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