There’s growing interest in companies that offer mentoring programs as a perk. Every generation has unique needs and the new workforce’s interest in regular feedback is shaping employer offerings. Unlike training programs or paid courses, mentoring leverages the expertise of your company’s most valuable resource: its people! Whether it’s used to entice new recruits, increase retention, improve employee satisfaction or train leaders, mentoring is universally appealing. It’s a win-win that helps employees AND employer.
Benefits to employees
Some employees might question dedicating valuable company time to a mentoring program. Human resources can help by putting together a thorough explanation of benefits, provide some suggested structure and make employees feel comfortable taking part in this optional program. Senior leaders should publicly endorse it and participate. Their involvement reinforces the program’s value.
- Increase confidence – From reviewing early stage recommendations for a project to providing career advice or suggestions for handling a problem, employees can leverage the skills and expertise of their mentor to gain confidence in their work.
- Accelerate career path – A company supported mentoring program sends a clear message to its employees: we want you to stay and are willing to invest time and money to help you grow your career.
- Lower stress – Most employees are eager to add value and having a trusted advisor can really help alleviate anxiety. It’s easier to contribute and let your personality shine when you feel comfortable.
- Reverse mentoring – Maximize the program’s effectiveness by making it mutually beneficial. Senior leaders open to learning from the next generation can stay relevant by tapping into what’s important to younger employees who also tend to be more digitally connected.
Benefits to employer
During interviews, companies interested in recruiting and retaining top talent can share success stories demonstrating how the mentoring program improved employee satisfaction and retention.
- Help recruit – When evaluating a job opportunity, candidates want to join a company where they believe they will thrive. Mentoring programs can demonstrate a company’s commitment to supporting employee success.
- Lower costs – Programs that focus on improving employee satisfaction and engagement help to reduce turnover and costs associated with training new hires.
- Increase productivity – Employees who leverage the insights of more senior staff can produce higher quality work in less time.
Leverage best practices for mentoring programs by working with our team of outsourcing HR specialists. MidwestHR, a top certified professional employer (CPEO) in Chicago can help you incorporate proven HR strategies to achieve your goals. Give us a call 630-836-3000.