Business Mentoring Matters

Employers create and implement mentoring programs for generally the following reasons:

•          Retain talent within the organization

•          Help new employees to better acculturate to the company

•          Part of succession planning programs

•          Promotes diversity initiatives

•          Knowledge transfer, especially for retiring employees

 Studies have shown that mentorees tend to remain with a company longer, get promoted faster and are generally more satisfied in their work.  Studies have also shown that in terms of diversity, mentoring programs tend to be more effective than diversity training because it allows people to engage in a meaningful relationship that transforms both partners and challenges their assumptions about diversity.

Given other programs implemented by companies such as leadership development, performance management, etc. mentoring is a lower cost initiative that generally pays for itself if a company saves 1-2 employees from leaving the company.

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