Mentoring benefits the organization, mentors and mentorees. A successful mentoring program benefits your organization by:
Mentors enjoy many benefits, including:
- Enhancing strategic business initiatives
- Encouraging retention
- Reducing turnover costs
- Improving productivity
- Breaking down the "silo" mentality that hinders cooperation among company departments or divisions.
- Elevating knowledge transfer from just getting information and to retaining the practical experience and wisdom gained from long-term employees.
- Enhancing professional development.
- Linking employees with valuable knowledge and information to other employees in need of such information
- Using your own employees, instead of outside consultants, as internal experts for professional development
- Supporting the creation of a multicultural workforce by creating relationships among diverse employees and allowing equal access to mentoring.
- Creating a mentoring culture, which continuously promotes individual employee growth and development.
Mentorees enjoy many benefits, including:
- Gains insights from the mentoree’s background and history that can be used in the mentor’s professional and personal development.
- Gains satisfaction in sharing expertise with others.
- Re-energizes the mentor’s career.
- Gains an ally in promoting the organization’s well-being.
- Learns more about other areas within the organization.
- Gains from the mentor’s expertise
- Receives critical feedback in key areas, such as communications, interpersonal relationships, technical abilities, change management and leadership skills
- Develops a sharper focus on what is needed to grow professionally within the organization
- Learns specific skills and knowledge that are relevant to personal goals
- Networks with a more influential employee
- Gains knowledge about the organization’s culture and unspoken rules that can be critical for success; as a result, adapts more quickly to the organization’s culture
- Has a friendly ear with which to share frustrations as well as successes.