What is a Mentorship Program?
A formal mentoring program is a structured, often one-to-one relationship in a work, organization or academic setting. Mentoring allows people to learn from one another, providing a path to skill and knowledge transfer. Impactful mentoring programs train mentors and mentees to have productive conversations and meetings, providing them with career development tools and resources to accomplish set mentorship goals.Benefits of Mentoring for Organizations
By setting up checkpoints and structure, a mentorship program allows mentors and mentees to have a relationship that’s productive and beneficial to all involved. The structure and accountability provided in formal programs—such as defined goals, mentor/mentee training, and an established platform of communication—elevate the connection beyond the confines of informal mentoring. Plus, with a formal program in place, more mentorship relationships can flourish, particularly with people (employees and students) who are traditionally underserved by mentoring of an informal nature.
- Increase loyalty and decrease turnover: Mentoring can help increase retention.Deloitte notes that 68 percent of millennials with a mentor plan to stay with the organization for five years (compared to 32 percent of millennials who do not have a mentor).
- Builds skills: Mentoring matters in building much-needed skills and knowledge. Employees are eager to grow on the job, so not only do companies gain the benefit of a more skilled workforce, but they provide workers with something they want.
- Increases employee engagement: A Research Studyfound 82 percent believe that mentoring relationships help foster meaningful connections between mentors and mentees, across departments and the organization.
- Builds company culture and Loyalty: Mentoring can integrate employees with company culture and make employees feel invested in by the organization.
The following link will take to you the 4th Program in this organization:
https://salesdemobaseorg.realizegoal.com/p/p4
How Does Mentoring Benefit Recruiting?
The direct business benefits of mentoring are compelling, but let’s take a moment to pivot to how mentoring programs affect the way job candidates perceive a company that offers mentoring programs. This point is often underemphasized, but is worth mentioning, especially if your company employs or recruits millennials.
When job searching, candidates are putting themselves first – and rightly so. They want what’s in their best interest and they want to find the right fit. They want to learn and they want to grow. They want to be happy at their jobs.
Offering mentoring programs helps to set your company apart from those who don’t. Some companies can talk the talk when it comes to having a growth mindset, but that point is lost if you don’t back it up. Formal company mentoring programs reinforce your company’s learning culture.