There’s an essential aspect of our work lives that is often overlooked: mentoring and coaching programs. Mentorship is a beneficial addition to the workplace, especially for employees on their way up in the ranks. When a mentor and mentee meet regularly, they can think through shared challenges in more depth, improve their knowledge and decision-making, and encourage each other to keep progressing.
If a mentor or coaching relationship can dramatically impact an employee’s career development, why not incorporate it into your company’s culture?
The Value of Guidance and Support
Mentorship is not only beneficial to the employees; it can have an extraordinary impact on a company’s performance too. Growth in employee development has shown a significant correlation with improved productivity and profitability in companies worldwide. Mentoring also promotes teamwork and a culture of collaboration, which prepares employees to thrive in the rapidly changing business world.
Mentoring helps employees understand an organization’s mission, how to get the most from their work and teach them how to grow as leaders. But it can also be a valuable source of professional and personal development for both members and the organization. For the mentee, it’s a chance to develop skills, build confidence, and learn from a seasoned professional.
If you are looking to advance the careers of your employees, then consider implementing a mentorship program. Mentoring has the potential to:
- Enhance the career development of employees by sharing knowledge and experience gained from your own experiences.
- Improve employee performance by providing both practical and emotional support.
- Enhance employee retention by providing a source of engagement.
Types of Mentoring Programs
Mentorship can be informal, with the mentor and mentee having regular conversations, or it can be formal, with the mentor and mentee meeting regularly in a structured setting. Typically, the mentor and mentee are in the same industry and share a common goal. Mentoring can be one-to-one, or it can be a “twofers” model: a mentor and a mentee work together on a project or a job.
Here are some common types of mentorships:
- Situational Mentoring: The mentor is an experienced employee who helps newer employees with training, such as learning how to use a system or platform.
- One-on-one Mentoring: The mentor is an experienced employee who provides career development advice and guidance to less experienced employees.
- Peer Mentoring: The mentor and mentee are paired together, usually from different teams, to share their experiences and ideas. No employee is necessarily more experienced than the other.
- Contemporary Mentoring: To help promote a company’s D&I initiative, this mentoring program involves pairing a mentor and mentee who share a common experience, like age, gender, cultural background, or race.
Finding and Keeping Top Talent
Mentorship can help companies find and keep top talent. From the company’s perspective, it’s a way to build a robust talent pipeline. Mentoring also helps people find opportunities to contribute to the organization.
You may have noticed that many of the most successful companies in the world are run by managers who have made it their mission to mentor top performers in their organizations. Particularly in an age where traditional hiring methods are obsolete, many of these managers find someone who is a terrific performer and then work tirelessly to get them into the role of CEO.
Sure, part of this likely has to do with the fact that these companies are filled with many other high performers they want to bring into their organization. But, it’s also a testament to the rewards of mentorship.
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