Mentoring Statistics in 2024: Everything You Need to Know

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Updated for 2024: Having a mentoring relationship is often noted as being one of the most beneficial things you can do for your career and personal development. Whether you want a mentor to progress in your career or are someone who struggles with soft skills, a mentor is there to help you develop on your journey. A vast number of studies have shown that some incredible benefits come with being a mentor or being mentored, from an enhanced network and the higher possibilities of being promoted within your organisation. We’re now seeing the number of people looking for a mentor rapidly increase with the number of businesses now implementing mentoring programs to improve the learning, development and skills of their employees. With the demand for mentoring rapidly increasing and a large amount of research available, we’ve compiled the latest mentoring statistics list, some of which you probably didn’t know about:

General Mentoring Statistics

It’s imperative that when talking about the advantages of mentoring relationships, we’re able to categorise the influence it can have on different factors in our lives. Generally speaking, mentoring has a significant impact on the lives of an individual or business and should be celebrated. Listed below are some of the top statistics about mentoring that will impress you.

• 87% of mentors and mentees say that their mentoring relationships make them feel empowered and assist them to develop a more prominent sense of confidence in themselves. (Source)
• 97% of individuals with a mentor feel they are highly impactful and valuable. (Source)
• Only 37% of professionals have a mentor. (Source)
• 89% of individuals mentored will mentor someone in the future. (Source)
• Almost one-quarter (24%) of 46-64 claimed they would only return to the office for in person mentorship or coaching.

Mentoring Statistics in Career Progression

Mentoring and career progression go hand in hand. Mentoring is now considered one of the top strategies used for career development and progression with a large number of professionals pursuing mentoring relationships to advance in their careers. Mentoring has also proven notably valuable to help assist and guide individuals looking to make career transitions. Whether you're a mentor or mentee, it’s equally as beneficial for your career.

• Mentees are 5x more likely to be promoted than those without a mentor. (Source)
• Mentors are 6x more likely to be promoted compared to their co-workers. (Source)
• A recent study showed that 25% of employees who are part of a mentoring program had a salary increase in comparison to the 5% who didn’t participate. (Source)

Mentoring Statistics for Employee Retention

The first few days for a new employee are crucial to their long-term success. Yet, many businesses fail to realise the importance of the first few days and the expense correlated with retaining and training employees. The data speaks for itself with over 22% of staff turnover occurring within the first 45 days and the replacement of an employee costing 3x their annual salary. Time and time again having a mentoring program in place has proven advantageous for employee retention, giving new and old employees a feeling of belonging and strong company culture, both things that are highly prominent in motivating employees to stay within your company.

• 50% of younger professionals say that a workplace mentorship program would make them more likely to stay at a company.
• 86% of professionals claim that having access to mentoring is a factor in them staying with an organisation.
• 43% of professionals claim that having access to mentoring is a significant factor for staying with an organisation.
• A massive 94% of employees stated they would stay at a company for longer if they were offered opportunities to develop and grow within the company and their careers. (Source)
• 9 in 10 workers with a mentor say they feel happier within their career. (Source)
• 4 in 10 workers who don’t have a mentor admit that they’ve considered quitting their job in the past three months. (Source)

Mentoring Statistics for Diversity, Equality and Inclusion

Over the past few years, there is growing evidence that concludes that inclusive working environments lead to better results. When employees feel included, they are more likely to be engaged and perform at a higher standard. Companies are finally recognising that inclusion and diversity within the workplace are required to form a company that truly understands its employees and becomes successful. We recently surveyed our mentors and mentees at PushFar, unsurprisingly, 82% of those surveyed said that they thought mentoring was valuable to tackling diversity and inclusion hurdles head-on. Employees feel motivated and supported when they see senior leaders with whom they can relate and identify with.

• 63% of women have never had a formal mentor. (Source)
• On average mentoring programs boost the representation of underrepresented groups, by 9% to 24%. (Source)
• Promotion and retention rates for minorities and women also increased for one organisation from 15% to 38% in comparison to their non-mentored staff members. (Source)
• Women are more likely to have a mentor (54%) compared to men in the workforce (48%). (Source)

Mentoring Statistics for Business Owners and Entrepreneurs

Whether you're a Fortune 500 company or a small business owner, mentoring will impact your company. To be successful at what you love, it doesn't hurt to have direction and assistance from another individual who has taken a similar path to yourself. More business owners now recognise the significance of mentoring relationships, not only for themselves but for their employees. All businesses will likely seek out a mentor or implement a mentoring program within their organisation in the near future.

• 71% of Fortune 500 companies have a mentoring program in place. (Source)
• 56% of organisations have a mentoring program in place. (Source)
• 70% of small businesses that receive mentoring survive five years or more, twice the rate of those who don’t have mentoring relationships. (Source)
• 93% of small and medium-sized businesses recognise that mentoring can help them succeed. (Source)
• Only 25% of small and medium business owners have a mentor. (Source)
• 92% of small business owners with a mentor agree that it has directly impacted the growth and survival of their business. (Source)
• 61% of small business owners mentor others. (Source)
• 58% of business owners will specifically mentor young entrepreneurs. (Source)
• A massive 89% of small business owners that don't have a mentor wish they did. (Source)
• 84% of CEOs stated that mentoring has helped them avoid mistakes within their businesses. (Source)
• For businesses, 67% reported an increase in productivity due to mentoring. (Source)
• 55% of businesses state that mentoring had a positive impact on their profits. (Source)

Mentoring Statistics for Millennials

Millennials are considered as being the most powerful generation, causing endless companies to evaluate how they operate. Studies predict that in just 5 years, millennials will amount to 75% of the global workforce. Millennial professionals have different expectations from their previous generations, for example, millennials seek out training and feedback from the workplace, and meeting these expectations can prove challenging to managers across the globe. Having a mentoring program in place is ideal for this generation, ensuring they get the attention and guidance they seek.

• Millennials intending to stay with their organisation for more than five years are twice as likely to have a mentor (68%) than not (32%). (Source)
• 79% of millennials view mentoring as a crucial aspect of having a successful career. (Source)
• After implementing a reverse mentoring program, a company experienced a 96% retention rate amongst millennial employees. (Source)
• 63% of millennials feel their leadership skills aren’t being fully developed within the workplace. (Source)
• 68% of millennials with a mentor intend to stay with their organisation for over 5 years compared to the 32% than peers who don’t. (Source)
• Only 29% of millennials feel engaged at work. (Source)
• 78% of employees are concerned about the level of engagement from seniors within their company. (Source)
• 61% of millennials in the workforce feel like mentoring is having a positive impact.
• There are various reasons for millennials wanting to leave their job, however, the main reasons are 35% of millennials feel as though there aren't enough opportunities to advance and 28% feel their organisation lacks learning and development opportunities. (Source)
• Millennials crave feedback, however, only 19% say they are receiving feedback from their managers and 17% stating that the feedback they receive is meaningful. (Source)

Mentoring Statistics for Young Adults

Young adults are those aged between 12-18, research proves that mentoring is greatly useful in young adults lives. Studies have shown it helps individuals improve both academic social and academic prospects. Mentoring allows meaningful relationships to be formed, having a real impression on both the mentor and mentee. It allows them to develop leadership, management, communication, and creative skills. Mentoring for young adults also further empowers them to give back to their community. Mentors for young adults are there to advise, support and guide them about classes, careers, jobs, life choices and future education routes, whilst being a role model for the mentee.

• Students with a mentor are 52% less likely to skip a day of school. (Source)
• 37% of students with a mentor are less likely to skip a class. (Source)
• 55% of young adults who have a mentor but face an opportunity gap are more likely to get a higher education than peers who did not possess a mentor. (Source)
• 78% of young adults with a mentor are more likely to volunteer regularly. (Source)
• 90% of young adults with a mentor are interested in becoming one in the future. (Source)
• 59% of teens with a mentor get better grades than their peers. (Source)
• 27% of young adults with a mentor are less likely to use alcohol. (Source)

Final Thoughts

We hope you were able to learn a little more about mentoring, and the impact it can have on both professional and personal development. It doesn't matter if you’re an employer, a student looking for their first job or a business owner wanting to grow your business successfully, mentoring is for everyone. If you want to learn more about mentoring and how it can help you or your business, you can find more information at PushFar.