Why you should create mentorship programs for your employees
Today, many organisations are considering mentorship programs as an approach to employee career development and engagement practices. This is a result of mentorship programs being associated with developing organisational talent among other benefits. Research by Corporate Leadership Council showed that well-executed mentoring can increase employee engagement by 66%. Further, employee retention rate for mentees was noted to be 72% when compared to those of employees not in mentorship programs which were at 49%.
Many organisations use internal mentors whereby managers double up as mentors who guide their subordinates with their career lines. This kind of mentorship is not always done formally and sometimes this lack of structure leads to ineffective mentoring. It is therefore advisable that organisations consider well-planned mentorship programs to help develop employees to the desired levels of performance, behaviour and individual growth. When organisations adopt mentorship programs the goal should be that it becomes part of organisational culture such that all employees go through the program.
Sometimes organisations don’t have the time or resources to create mentorship programs. In this case, organisations may seek external partners to bring in mentorship programs. Whether internal or external, mentorship programs do have some substantial benefits as below:
Mentorship programs help with knowledge transfer within the organisation. Experts in certain fields are able to transfer knowledge to less experienced employees outside of formal training programs. Working with a mentor means knowledge is passed on constantly in the on-the-job setting that makes the knowledge sharing more practical and relatable.
Increased job satisfaction
Mentorship programs intended for career development show employees that the organisation is invested in their development. Good mentorship helps employees grow in their career and as a result, they derive satisfaction from their job.
Just like coaching, mentorship programs help in succession planning. This is because mentors are able to identify employees’ abilities by working closely with them and hence identify their areas of development and suggest suitable roles that employees may undertake in the future.
Stronger internal network
Well-planned and executed mentorship programs helps managers and other staff build healthy relationships. A strong network is built amongst employees and between employees and management which contributes to a positive work culture.
Mentorship does not always have to be between a manager and subordinate. Sometimes employees can mentor each other in their different areas of expertise. For example, younger employees can be paired up with mature employees whereby the younger learn from the mature about the organisation’s structures while the mature generations learn about new technologies. This kind of mentorship planning leads to increased teamwork and transfer of knowledge across the workforce.
Achievement of goals and objectives
Overall, mentorship programs are beneficial to both organisations and employees. A well-planned and executed mentorship program ensures that employees achieve their career goals and objectives and the organisation achieve its objectives as well. With this in mind, it is time managers really considered incorporating mentorship programs into their organisations.