Organizations can benefit a lot from mentoring programs. If you don’t have one in place, you might want to start mulling it over.
Successful professionals credit their success to a combination of hard work, determination, and also other people who were instrumental in helping them succeed. The knowledge, experience, and support of a mentor at work are the most crucial ingredients for success.
Mentoring at the workplace is a good source of guidance for others and it's a vital aspect of holistic growth.
Employer-driven mentoring programs are one of the best ways to do this by giving employees a chance to learn and grow with someone who has already been through their journey.
A good mentoring program can offer benefits like improved turnover rates, increased diversity of employees, and help plan the future. Best of all they require minimal cost while providing value to the business.
So, what is the purpose of having a mentor at work?
Being a mentor at work is a reliable, cost-effective way to transfer knowledge and know-how from employees with a lot of experience to less experienced ones. The mentor can be anyone from the organization.
The result of the mentorship may vary depending on the goals and objectives set by the program.
Contributing as a mentor at work may help in acquiring development and leadership skills. It can also be an opportunity for the mentee to develop their skills, solve problems and become acclimated to the work environment.
Mentoring forms a trusting relationship where both sides can learn from each other. And as for the organization, mentoring programs can help improve employee retention and reduce turnover rates.
Now let’s see what are the impacts of having a mentor at work!
The benefits of workplace mentoring
#1 Diverse and inclusive work environments
Plenty of research shows that diverse teams outperform teams composed of people from homogeneous backgrounds. Diverse companies are more resilient and innovative, and top bosses should mentor and sponsor talented people from all backgrounds.
A lot of senior executives don’t mentor, which affects the leadership pipeline at their companies. This may lead to a loss in the potential of talented people.
Being a mentor at work will troubleshoot these loopholes and skyrocket productivity in an organization.
It's important to make your organization more equitable by making sure that leaders of all identities and backgrounds feel supported, valued, and engaged.
Successful leaders need a network of advocates to build support for their cause and to advocate on their behalf. Mentoring programs can come in very handy for setting these ideas in motion.
#2 Building good rapport among employees
Mentoring at work is truly transformational because it helps build rapport between the mentors and mentees. A clear sense of understanding is established which strengthens the communication between the teams of the organization.
Having a good rapport reinforces understanding of values and viewpoints, and having a sense of mutual trust and respect between two individuals.
A study also found that the people involved in mentoring programs had a much higher retention rate as compared to the employees who didn’t enroll in the mentoring programs.
Employees are more likely to stay at an organization that gives them a fulfilling, heartfelt connection. This is especially true for those that are underrepresented in an organization. Having a mentor at work can solve this problem.
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#3 Working with a role model
Having a mentor that can tell you exactly what to do and who has gone through a particular situation before is invaluable. It will save you a lot of time and help you reach your goal more quickly.
The mentor at work will empathize with all the challenges faced by the mentees and give solutions that have worked for them in the past.
They’re also in the ideal position to help you figure out what skills are going to take you up the ladder, and how best to develop them.
Mentoring at the workplace will help you attain short-term goals with ease or might even show you the direction to move up to the higher levels in the company.
#4 Increase in productivity and engagement
One of the most unexpected things that a mentor does for their mentee is challenging them to exceed in the job they already have. That's because if you're looking to improve, a good mentor will show you what steps or skills are missing for you to do so.
A mentor at work can support you in times of need when you're bored of your current situation. You're able to tap into new ideas and ways to contribute to the success of your organization. This may also lead to a new sense of interest on a day-to-day basis in work.
You may also be recommended by your mentor to engage in outside activities that will potentially help you level up your career.
#5 Gain knowledge from real-life experiences
Some mentors in the workplace have now moved to higher levels in the organization after working for many years. They have a deep knowledge of how the organization works.
If you can get one of them as a mentor, they can provide valuable insights into their field of expertise and other related areas to offer you advice on how to navigate through your work, and manage it efficiently in a team.
Their advice is profound and being able to incorporate it accurately will save your time and increase productivity. The mentor at work will provide you with information to help you avoid possible difficulties so that the same mistakes are not repeated.
The mentors will also help you identify areas in which you need to cultivate your skills, and either teach them to you or advise you on how to improve them in the best manner possible.
Mentors can share their personal experiences and tips if things didn't go as planned. They will give insights on how they overcame the obstacles and what they did differently.
Mentoring is a great way to grow talent and keep employees engaged. There are many ways organizations use mentoring, it can be a formal HR initiative with monitored goals set in advance or more informal conversations that develop organically.
The well-designed organizational mentoring programs are built with careful strategic planning and generous involvement from the organization.
By incorporating a mentor at work program you will notice increased engagement, employee retention, and higher revenues.