Sharing Management’s Experience and Expertise
“Not only does mentoring develop the profession; by not mentoring, we are wasting talent. We educate, and train, but don’t nurture.” ~ Wright and Wright, 1987
What Is Mentoring?
Career mentoring is a short term or long term one-to-one personal relationship that is considered a vital educational and training tool for learning, development, and career advancement. This relationship is all about sharing resources, knowledge, values, expertise, skills, proficiencies and perspectives with the purpose of developing another individual. Career mentoring also gives the mentor the chance to further their knowledge and improve their skills through the continuous reassessing and building of such areas.
Mentoring Process in the Workplace
Typically, mentoring is a three-way beneficial process. It helps not only the mentee and the mentor, but the organization as well. Although the main goal is to advance the career of the mentee, this is not the sole benefit of this kind of relationship. Similarly, the workplace can obtain success through the increased productivity, well socialized staff, lower employee turnover rate, and of course a more solid management team.
Training can lead to increases managerial productivity by 24%, while the combination of coaching and mentoring can increase productivity by a huge 84% (Source: American Society for Training and Development).
A survey of CEOs from Fortune 500 companies revealed that mentoring is one of the major reasons for the significant career growth in their respective companies.
In a study of training, it was found that those employees who receive mentoring are more knowledgeable about the unwritten rules of the company compared to those who didn’t undergo any mentoring program. (Source: Wilson and Elman)