Engaging, retaining and developing employees through a workplace mentoring program
An effective workplace mentoring program could prove to be an important benefit to both existing and prospective employees. Mentoring provides the critical edge that marks the difference between career success and failure, as these studies demonstrate:
A third of managers want to develop their coaching & mentoring skills. (CMI)
80% of young managers cite mentoring as being important to them, whereas only 28% of their employers provide mentoring opportunities. (HBR)
Time after time, research studies show that the number one reason an employee decides to leave an organisation is the lack of career advancement and development opportunities. Mentoring has been proven to be a cost-effective strategy to engage and nurture employees, helping to develop their talents and knowledge and increase job satisfaction.
Retention is 25% higher for employees who have engaged in a company mentoring program. (Deloitte Research Brief 2012)
One of the most critical elements in retaining great people is effective mentoring.
Mentoring is a process that involves understanding a mentee's ambitions and capabilities, their successes and challenges and helping them to use this knowledge to push their career forward.
By connecting your employees to the right mentor your organisation can provide an extremely cost effective way to efficiently transfer valuable competencies from one person to another, build skills, create valuable networks, support career planning, build strong teams and increase employee engagement and retention.
A workplace mentoring program can support a variety of initiatives,
- Talent acquisition and retention
- New employee induction
- High growth phases
- Change management
- Succession planning
- Knowledge transfer
- Develop team cohesion
- Skill development – both hard and soft skills
- Supporting high potential employees
- Ensuring the organisation's goals, vision, mission and culture are properly implemented
A workplace mentoring program can be effectively used to develop an individual's hard and soft skills. They can be used to boost retention as well as help individuals with career development. Employees represent your brand every day, so it is important to invest in their job/career satisfaction and in employee engagement.
A workplace mentoring program can also be used to help address generational divides and tensions in the workplace. By enabling younger or less experienced workers to connect with older, more experienced ones both business and people management skills can be developed. It will be rewarding for both mentor and mentee.
- Learn about their leadership style and grow their own leadership skills and help others to succeed
- Achieve the satisfaction of passing wisdom and knowledge to others
- Learn to connect more effectively with the younger generation
- Build wider networks
- Benefit from 'reverse mentoring' in the areas of new technology and emerging trends.
- Gain support in attaining skills/ knowledge/ attitudes/ culture awareness
- Receive encouragement for faster learning and growth—both personal and professional
- Grow in confidence
- Access role models
- Achieve greater exposure and visibility
- Feel more valued as an employee
- Improve communication skills and expanded their network
Why not request a demonstration of the PLD workplace mentoring platform and have a chat about how it could work for you.