19 Mentoring AdvantagesJuly 14, 2016
Mentoring has shown to be one of the most valuable and effective development opportunities an organization can offer employees, per the numbers. (Download our recent mentoring survey report.)
Having the guidance, encouragement and support of a trusted and experienced mentor can provide a mentee with a broad range of personal and professional benefits, which ultimately lead to improved performance in the workplace.The advantages of mentoring extend to all involved in the program, including the host organization[Click to Tweet]. Here are 19 benefits of corporate mentoring that benefit all stakeholders.
Advantages for Mentees
1. Develops a skill or competency
2. Improves the mentee’s confidence in their ability to execute the task at hand.
3. Helps the mentee improve their communication skills
4. Gives the mentee practice in accepting feedback from a consistent source.
5. Teaches the mentee how to maintain a professional relationship.
6. Expands the mentee’s network of contacts.
7. Provides a crash course on the current company culture.
Advantages for Mentors
8. Strengthens the mentor’s active listening skills.
9. Provides a conduit for the mentor to give back to the organization.
10. Knowledge share by the mentor is encouraged, which increases the mentor's sense of self-worth.
11. A sense of fulfillment through teaching is established.
12. Helps enhance the mentor’s own relationship-building skills.
13. Provides an added sense of purpose and responsibility for one’s career.
Advantages for the Organization
14. Helps achieve their talent development goals such as succession planning and ensuring solid leadership development.
15.Informs everyone throughout the company that leaderships is willing to invest in its employees.
16.Improves talent acquisition efforts. New hires are aware of this organization's career development opportunities.
17. Fosters employee retention, which can lead to a reduction in turnover rates
18. Leads to reduced training costs by way of one-on-one interaction.
19. Harnesses the power of natural leadership.
Compared to training programs, which are often costly and time consuming, mentoring programs provide a cost-efficient alternative for getting your employees in top shape. Today, formal mentoring programs can enhance the effectiveness of your talent management strategy.
From talent retention to leadership development while in sourcing from within, A tailored mentoring program will transform your business in a plethora of efficient ways. Starting a mentoring program is easier than ever, visit Insala today to talk to one of our staff members and schedule a demo today.