The Powerful Benefits of Mentoring For Both Employees and Organisations

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Mentoring is something we believe all organisations should have in place. But why? Because, mentoring comes with a huge range of benefits for those involved. From increased retention rates for organisations, to improved self-confidence within employees, the benefits are endless.

Whether you are looking to implement a mentoring program within your organisation, or simply want to market your current program to your organisation as a whole, the benefits need to be known.

Throughout this article, we will be discussing the benefits for both the employees of the organisation and the benefits as a whole.

Mentoring benefits for individuals

Did you know that 79% of millennials view mentoring as a crucial aspect of having a successful career? Now more than ever, mentoring is becoming a key element in the lives of individuals.

Mentoring is an incredibly versatile tool, and as mentioned, beneficial for all involved. Many have seen the benefits of mentoring within their career, owing their progression entirely to the help they received. When it comes to mentoring, an individual can set many goals to push for their success.

Whether your mentors and mentees are unsure of what direction they want to go in professionally, looking for career progression or wanting to develop new skills, mentoring can help them achieve all of this and more.

Listed below are benefits of mentoring for individuals within an organisation.

Career guidance and support – Be it career progression your employees are looking for, or change into a new role, a mentor can help them navigate the path ahead.

Advice – Having someone else to talk to and offer an outside opinion, can be crucial in decision-making. Mentors can offer your employees the advice they need to thrive within their roles.

Industry knowledge – If you want your employees to learn more about your current industry, having someone to prepare them with a foundation of knowledge and understanding, will give them more confidence going forward in their career.

Skills development – A mentor can help your employees enhance skills they already have, whilst helping them to develop new ones.

Increased job satisfaction – Studies found that those with a mentor are more satisfied within their careers. Improved job satisfaction amongst employees improves engagement, retention, and productivity.

Development of communication skills - Regular meetings and working towards goals with a mentor will improve your employees' communication skills, as they are able to discuss and challenge each other.

Improved working world understanding - Being mentored, or mentoring someone, will give your employees the insight they need to understand the working environment better.

Increased confidence - Having support there for your employees to guide them to their goals will help their confidence when moving forward professionally!

Improved motivation - Regular meetings will help keep your employees on track, along with encouragement and advice from their mentor, their motivation will pick up as they are inspired and regularly reminded to focus.

Expanding network – Continuously expanding a professional network is always a positive thing to do. Your employees will be able to find new opportunities and gain new and trusting relationships.

Opportunity to learn self reflection – Self reflection is a great life skill to have, and your employees will be able to learn how to take a step back and assess their journey. Gaining feedback on what they did right and what they can improve on in the future.

Empowering others – Inspiring and supporting another through their journey can be so rewarding. Your employees will feel empowered and see their mentees success and knowing they helped them reach their goals.

Gaining new perspectives – Everyone is different in how they view situations, and being able to hear an outside perspective is invaluable within your employee's career development.

Enhanced listening skills – Actively listening is very important in mentoring, and your employee's skills will develop within their relationship, it’s an important and valuable life skill!

Improved mental health – Having someone to discuss work with, in confidence, is incredibly beneficial for employees. The opportunity to communicate with someone about the challenges they face, reduces stress and anxiety, creating a workforce with greatly improved well-being.

Mentoring benefits for organisations

The benefits of mentoring stretch further than just between mentor/mentee, they also positively impact an organisation as a whole. Running a mentoring program within the workplace is a great tool for staff retention, and also for new starter onboarding.

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. Listed below are some of the many reasons why you should consider running a mentoring program within your organisation.

Reduced training costs – Offering a mentoring program to your employees, reduces training costs across the organisation. Having mentors who are part of the onboarding and staff training process, along with ongoing training between senior leaders and employees looking to progress, fosters learning and development within your organisation.

Improved workplace culture – Mentoring helps build a workplace culture that values support, learning, and knowledge. Mentoring in the workplace makes your employees feel supported and also gives them the opportunity to build relationships.

Increased job satisfaction – When your employees feel they are able to develop within their role, they will feel more satisfied within the workplace. This is incredibly important if you want a workforce that is happy and more productive.

Knowledge sharing – Mentoring is a great way to improve knowledge sharing across your organisation, and the implementation of a mentoring program actually influences your employees to do so.

Improved teamwork and communication – Mentoring relationships will help team building, relationships and communication between your staff as they learn to listen and advise each other.

Promotion of diversity and inclusion – The opportunity to support minority employees within the workplace to aid their progression into senior roles, is something mentoring can help your organisation achieve.

Retain and attract talent – Mentoring is now a key factor employees are looking for in a new role. This helps give your organisation a competitive edge. Research also shows that mentoring is a great way to retain your current staff, as they feel more supported within their role and feel invested in.

Internal leadership – A mentoring program can help create strong internal leaders within your organisation. Mentoring helps your employees develop leadership skills, but also are able to learn from senior employees within the organisation.

As you have seen, the benefits of mentoring are incredibly powerful. If you want to learn more about how mentoring can be used within your organisation, book a free demonstration with us today.

PushFar is the world's leading mentoring and career progression platform, helping hundreds of amazing organisations across the globe, fulfil their mentoring needs.