This blog lists 6 things you might not know about mentoring, but you should as professional mentoring is a proven tactic for developing staff and setting them up for future success. It teaches people how to deal with situations in their professional and personal lives, affording the opportunity for a prosperous future.
Mentoring isn’t new, however. The word is derived from ancient Greek times and was popularised in the workplace in the second half of the twentieth century. Since then, modern-day mentoring has evolved significantly.
There are many different types of professional mentoring, including one on one, groups and virtual mentoring. With these changes, there might be a few aspects that you don’t know about. Well, fear not, as we’re here to tell you about them.
Most CEOs had a mentor
80 percent of CEOs have stated they had a mentor at some stage during their career. With such a high number of high-level professionals working with mentors, it’s clear to see that good mentoring programmes help create the leaders of tomorrow.
Mentoring assists employees in having careers that are fast-tracked. They are primed for success with carefully crafted programmes that help them develop both personally and professionally. Mentees learn how to problem solve and deal with situations at a much faster rate when they have a mentor.
No mentor. No stay.
On the other side of the spectrum, 35 percent of employees that don’t receive a mentor plan, leave their job within 12 months. The value of an excellent professional mentoring programme shouldn’t be underestimated, especially for millennials.
With 63 percent of millennials stating their leadership skills aren’t being developed, businesses are missing an opportunity to nurture future talent. It means they risk losing out on staff with high competencies that can go on to lead their company in the future.
Mentoring isn’t aged based
When someone thinks of a mentor, they conjure up an idea of an older, wise person sharing their knowledge and experience. While experience is key to being a good mentor, modern-day mentoring isn’t necessarily based on age.
Google has mentors in their 20s, while other companies have valued experience over age. Each mentor is their own unique case – some will be older, while others will be younger than the stereotype often labelled to mentoring.
Sticking with younger mentors, reverse mentoring is when younger members of staff teach older employees on topics like technology. With tech evolving at a rapid pace, it can be hard to keep up with changes.
Younger people tend to be more up to date with changing technology, and many companies use their knowledge to teach older execs. The benefit is two-fold: execs stay on top of latest trends, while younger employees feel empowered as they get to teach from a young age.
71 percent of Fortune 500 companies have mentoring programmes. The reason? Because investing in leadership capabilities bears fruits in performance. Those with mentors are more productive and gain the confidence to implement their ideas and grow into leadership roles.
The top companies want to retain staff and have the brightest talent. They realise that the only way to do that is by investing in their employees. Mentoring is a bona fide way to show staff their worth and set them on the right track to success.
Getting ahead of the curve
Mentees get promoted five times more often than those without a mentor, while retention rates are higher for companies with mentoring programmes (22 percent). It really is all about the value placed on staff and a company’s future.
With StellarUp’s holistic approach to mentoring, organisations can create bespoke programmes that go all the way from “hire to retire”. There are also track templates to help you get started and prepare yourself for the future.