A mentorship program can serve as a way to help employees do their best. Official programs continue to grow in popularity with even top companies making them an essential part of the employee experience. The following four points outline the main reasons big name companies continue to fund mentorship programs and why they make all the difference.
Develops Stronger Workers
Mentoring is a cost-effective way for employers to increase the skillset of their workers. During a mentor relationship, mentees discuss challenges and get advice. Regular mentor meetings increase the opportunities for feedback and assistance outside the stressful confines of the day-to-day office structure. Mentors can give valuable information and suggest ways to improve skills. At the same time, mentors can learn new skills from their mentees so that they learn from each other.
Increases Employee Satisfaction
Employers want to feel like they are a part of the company to maintain engagement. When employers help their employees feel like they belong and meet their needs, this increases employee job satisfaction. Rather than managers finding mentoring burdensome, both mentors and mentees increase their job satisfaction within this relationship. Companies with these programs lower their employee turnover.
Improves Employee Relations
Many managers can be of older generations, while many lower-level employees tend to be younger. It takes time to climb the career ladder. Different generations can have different ways of communicating, and a mentor relationship can help identify and solve these problems. Mentoring provides opportunities for discussions and to address challenges in informal ways. This gives both employees and managers a way to improve relationships and minimize communication gaps.
Boosts Attraction from Prospective Employees
When searching for a position, many candidates want to know about the benefits. Millennial workers especially are more willing to have lower wages in exchange for an increase in benefits. Establishing an official mentorship program signals to prospective employees that a company wants to invest in their long-term success. Mentoring is also a cheap benefit for companies to introduce.
Mentoring is a relatively simple way to improve relations and the work of a company. When instituting a mentorship program, companies should make sure that they include guidelines to facilitate goals attainment and outline the purpose of the mentorship. With these procedures, companies can reap the benefits of a mentorship program.