Business Mentoring Matters

Deloitte Research data states that one in three new hires leave a company within the first year of employment.  That number represents a large loss of productive and increased turnover costs.  It's unavoidable that some turnover in the first year is expected as both the company and the employee explore whether this is the "right fit" for either of them. But if the "right fit" is there, companies can improve their retention rate significantly by paying attention to the needs of the new employee.

Assuming that the new employee has the competence to do the job, the issue becomes whether the employee can operate effectively in this new culture.  This is more than simply doing the job well.  It means understanding the ins/outs of the corporate culture and how that enhances or hinders that employee's success now and in the future.

A buddy program is a quick and inexpensive method of easing that employee's transition to the company, but it often is half-hearted in implementation and left up to the buddy to figure out how to be helpful.  A better and more powerful strategy is to match a new employee with a mentor who brings to the table the kind of care and concern needed by someone coming into a new situation with all the insecurities and doubts that accompany such a transition.  Minimizing such insecurities and doubts will prevent these from eroding that person's confidence in themselves and good will toward the company.  There is nothing as powerful as having someone there who cares and is willing to listen.  It doesn't take a lot of time but reaps great rewards!