Often the mentee benefits the most from a professional mentoring program – for example:
Experience: He/she has someone with greater knowledge and experience to turn to for advice.
Goal setting: Mentors help young people set career goals and start taking steps to realize them.
Problem solving: When faced with a problem, the mentor may demonstrate a task, guide the employee through solving a problem, or critique the employee's work.
Socially: A mentor may help an employee feel less isolated at work by encouraging him/her to interact more with co-workers.
Guidance: Mentoring guarantees a young professional that there is someone who cares about their personal and professional growth within the company.
Networking: Mentors can use their personal contacts to help young people meet industry professionals, locate job opportunities, etc.
Resources: Mentors introduce young people to professional resources and organizations.
Financially:Mentoring statistics found that professionals who have a mentor, earn between $5,610-$22,450 more annually, than those who didn't have a mentor.
How does the mentor benefit?
Yes, the mentee tends to gain the most from a mentoring relationship. However, mentors profit from the relationship, too.
Job satisfaction: The opportunity to teach or advise an employee can increase the mentor's confidence and improve his/her job satisfaction.
Communication skills: While listening to the concerns of the employee the mentor will form a better understanding of employee issues while developing stronger communication skills.
Managerial skills: If the mentor is a supervisor/manager, mentoring can improve his/her supervisory skills.
Networking: Even if a mentored employee leaves the company, the mentor and mentee may maintain a professional connection, thus expanding the mentor's reputation and connections.
Perception: Communicating with employees outside of your normal team can help you understand how other individuals within the company perceive you.
Personal satisfaction: For some, the feeling of helping another human succeed is worth the time/resources commitment needed to cultivate a successful mentoring relationship.
How does the company benefit?
Successful mentoring relationships can have a direct affect on a company’s bottom line. For example:
Productivity: The employer of a mentored employee gains from greater productivity in the workplace.
Efficiency: As employees turn to their mentors for advice, they make fewer mistakes on the job making them increasingly efficient.
Decreased turnover: Employees in a successful mentoring relationship tend to feel a greater loyalty to the company.
Attract new employees: Finding the right mentor can sometimes be an exhausting process. Offering prospective candidates the option to participate in a pre-established mentoring program can be extremely valuable.
Skill refinement: Mentoring can have long-term benefits as employees become more self-directed and develop stronger communication and problem-solving skills.
As shown above, mentoring can benefit the mentor, mentee as well as the company. Mentoring should become a focus for companies because ultimately it helps attract, motivate, develop, and retain profitable talent, among other things.