The Benefits of Mentorship

A remarkable 75% of executives say mentoring has been critical to their career development, according to a survey by the American Society for Training and Development Be One, Get One: The Importance Of Mentorship (forbes.com)

For Mentees:  

Mentorship is a valuable tool for professionals to grow their development and leadership skills, expand their network, and gain industry insights.  Professionals should choose mentors that are successful in their field, and ones that will offer advice and encouragement.  

Mentors provide valuable insights and guidance to help professionals advance their careers and develop their leadership skills.  For example, a mentor can help a mentee identify their strengths and weaknesses and provide advice on how to improve and leverage their skills.   

Mentors often have extensive networks and connections in the business world, and they can use these connections to help their mentees.  A mentor can introduce their mentee to potential business partners or investors, or help them connect with other industry leaders.  Networking is invaluable to mentees looking to grow their businesses and expand their reach. 

Mentors bring a wealth of experience and knowledge to the table, and they can provide valuable insights that professionals can use to make informed decisions.  A mentor may have experience in a particular industry or have faced similar challenges as a mentee, and can provide guidance on how to overcome those challenges.  

For Mentors:  

Being a mentor is rewarding and can provide a lot of personal satisfaction. Investing time and energy to help shape a person’s career.  By sharing the experience and wisdom gained from years of working, a mentor can benefit in many ways. 

A mentor gains experience to make them a better leader.  Not only does it benefit by experiencing being a mentor, but it shows leadership skills and initiative by making a choice to be a mentor.  

A mentor is able to learn from their mentee.  A mentee may have fresh perspectives and insights into different technologies that a mentor can learn from.  A mentor can gain fresh ideas through understanding the world through the eyes of a different person.  

For Business:  

On an organization, a mentorship program can provide a lot of benefits.  Not only is it good for the individuals, but it can improve overall company productivity and culture.  Employees who are able to expand and reach their potential do more meaningful work, and it has an interpersonal connection to their personal and professional development. 

One thing that is great about implementing a mentorship program in the workplace is that it can be very specific to a type of employee, or as blanketed to encompass all employees.  Guidance exists for reverse-mentorship, high-potential employee mentorship, diversity mentorship, management mentorship – so tackling one kind of mentorship to start out with is easy.  

“…the benefits of mentorship are, in fact, thoroughly documented. The firm SAP HR Research examined 43 studies published over the last 30 years and found a positive correlation with the career outcomes of mentored vs. non-mentored employees. Those with mentors received higher compensation, a greater number of promotions, felt more satisfied and committed to their career and were more likely to believe they would advance. Furthermore, 76% of people view mentors as important to their overall success…”  The Power Of Mentorship (forbes.com) 

Are you looking for a company to partner with you to make the help you develop your most important asset, your staff? ESSG and our HR team can help you develop strategies to increase morale and create partnerships across departments, while reducing risk and increasing profitability. Contact us today to learn how we can help your company grow.