To realize success in uncertain business environments, companies must move with the times while also considering employee’s motivations, needs, and aspirations. A well-thought-out mentorship program will leverage the key personnel and the business’s existing resources to enhance employee well-being. Here are a few measurable ways that a well-structured workplace mentorship program may benefit employers and employees in the workplace.
Advances personal and career development
By linking employees with mentors whose main objective is to guide employees, employers create a safe environment for employees to learn. They comfortably take risks and make mistakes, clearly understanding that it helps them learn and become better. It improves employee retention and births a culture of innovation at the workplace.
Reduces learning costs
Recruiting new employees and acquiring fresh talent come at a cost. By establishing mentorship programs, a company can retain existing employees, thereby reducing new talent training costs. When an organization sets-up mentors and mentees who can count on each other, cases of anxiety, work-related stress and sick days significantly decrease.
Creates a learning culture
Mentorship programs result in bonds between employees that otherwise could not have existed. This helps to foster intra-organizational and interpersonal relationships. They promote a synergetic learning environment that encourages employees to learn from each other. This results in all-rounded employees who are keen on enhancing their expertise.
Workplace mentorship programs build diversity in leadership by encouraging sharing of ideas, knowledge, and opinions. When they are successful, retention and attraction of employees from all walks of life is assured. Employees also stay committed to the company with a renewed desire to climb through the ranks. Recent graduates can associate with other employees and therefore find comfort in their new roles.
Promotes leadership development
Mentors are typically senior employees in an organization who serve in various leadership positions. Through their personalized guidance and attention, mentees progress faster in their career growth. The mentors also derive more satisfaction with their jobs and their sense of commitment to the organization is strengthened.
Reduce stress and anxiety
Failure to meet targets or conflicts with the manager or workmates can result in stress and anxiety. A mentor is an individual the employee can turn to for guidance regardless of the issue. Nothing gives an employee peace of mind than knowing that the mentor is always there to help.