Benefits of Mentoring
Aside from networking, there are many benefits
Aside from networking, there are many benefits of mentoring relationships for both the mentor and the mentee. Some companies might question the value of spending time and money to develop junior professionals; however, research shows that mentoring enhances senior professionals and management, ultimately creating value for the company. Mentors have the opportunity to gain substantial benefits from practicing mentoring. According to Rajashi Gosh and Thomas Reio, there are at least five subjective career outcomes for mentors: job satisfaction, organizational commitment, turnover intent, job performance, and career success.
For mentees, the benefits are endless. Mentoring relationships provide the mentee with someone to talk to, ask questions, and stretch their ideas about who they are and who they want to become and allow the mentee to gain professional insight from an experienced individual. Mentees can find comfort in the fact that they are not alone in their struggles and they have someone who can help them make clear decisions and navigate personal and professional circumstances.
Increased Networking
Refreshed Energy
Learn Something New
Job Satisfaction
Build Community
Overall Career Success
FUN FACT
In 1992, the accounting firm Deloitte and Touche, located in New York City, revolutionized mentoring by starting a program that combined mentoring, career counseling, and job flexibility to help women advance in the workplace. Deloitte passionately referred to this effort as “The War for Talent” and she sought to win. By 2000, Deloitte and Touche saw 30% growth, which is still a benchmark that shapes the firm today. In 2016, Deloitte and Touche surveyed almost 8,000 Millennials across thirty countries. It is generally agreed that a Millennial is someone who was born between 1981 and 1997. Two-thirds of respondents said they wanted to leave their organization by 2020. Deloitte and Touche described this as a “remarkable absence of loyalty.” The firm became heavily invested in the retention of Millennials. Today, Deloitte and Touche offer new interns a “Discover Internship.” The newcomer is equipped with a counselor and an onboarding advisor to assist them and offer guidance throughout the experience. During the internship, a senior manager shares potential paths to advancement with the company with options for flexibility. This type of program made the Millennial intern feel “special” and not overlooked. Deloitte and Touche soon realized that this was not a “remarkable absence of loyalty,” but an oversight of the amount of attention one generation craves over another. Millennials desire mentorship, however, they have a difficult time finding a mentor through informal methods. Companies like Deloitte and Touche have responded with formal programs; however, if Millennials do not feel supported, they will not repay the organization with loyalty and will leave positions sooner than previous generations.