Is Corporate Mentoring Worth It?
Posted by Rene Petrin on Mon, Apr 27, 2009 @ 01:00 PM
As a consultant I often get asked about demonstrating the value of mentoring. The survey below is another example of results that are typically demonstrated when a well-designed mentoring program is implemented.
Results of HR Executive's October 2002 survey - "Workplace Mentoring"
What is often overlooked by these surveys is the fact that the financial investment in mentoring is very low cost given its benefits. For example, if you take the Higher retention statistic of 58% and factor a turnover costs of between $10,000-$40,000 per employee, you can see the value of retention through mentoring. A company can recoup its investment in creating a mentoring program by retaining 1-4 employees. Isn't it time you gained he benefits of lowering your turnover costs through mentoring?