Mentoring someone could mean anything from having an informational one-on-one talk to partaking in long-term workplace programs.
To a certain extent, mentorship represents different things for different people.
For example, for mentors, it’s a great way of working on their skills in pursuit of executive leadership roles. Mentees use it as a tool in their career advancement strategies. For organizations, it’s a way to upskill new hires or reskill current employees in their professional journey. But also, employers use it to increase engagement and build diversity.
So, in a sense, a mentorship program is what many would describe as a work benefit.
Statistics show that employees who enroll in a mentoring program are happier and more engaged. One survey by CNBC and SurveyMonkey indicates that nine out of ten workers with a mentor are content with their job. Additionally, employee retention with mentorships was 50% higher.
When it comes to developing mentorship, usually, the mentor-mentee relationship forms naturally. However, the employer can also introduce a mentoring program in the workplace as a growth opportunity.
Depending on the mentor-mentee association, there are three different programs.
- One-on-one mentoring is the traditional type where a mentor and mentee participate in the program in person.
- Group mentoring is a program where one mentor has many mentees.
- Distance mentoring, also known as virtual mentoring, is when the mentor, mentee, or mentees are in a different location. Tools like mentorship software can facilitate this type of program.
This innovative technology of mentorship software significantly aids mentorship and sponsorship programs. The features of these mentorship platforms, such as skill-based pairings and progress tracking, bridge the gap between sponsors and protégés and mentors and mentees, ensuring a goal-oriented collaboration.
There can be another subgroup of mentoring programs based on the end goal.
It’s the most common type of mentoring program. The goal is to support the professional development of new employees by providing them with a senior mentor. It’s also an excellent way to increase job satisfaction and upskill workers.
Employers can use mentorships to build diversity and equality in the workplace. In a Heidrick & Struggles’ “Creating a Culture of Mentorship“ survey, 30% of women voiced their mentoring relationship was extremely important, compared to 23% of men. For 32% of minorities, mentoring was essential, as opposed to 27% of the overall sample.
Or, as the 2022 survey conducted by Gallup Center on Black Voices puts it, DEI mentorship and sponsorship play a crucial role in shaping the employee experience, especially when the companies intentionally provide them.
- Exploring High Potential (HiPo)
These HiPo programs focus on high performers and promising employees, and the goal is to retain this talent. Gartner’s 2Q19 Global Talent Monitor report reveals that HiPo workers put in 21% more effort than their colleagues, bringing up to 91% value to the organization.
This type of mentorship specifically targets first-time managers. It helps them develop management and organizational leadership skills. It’s also a good way of building confidence in their new roles.
As the name suggests, this mentoring program switches student-teacher roles. Or, it happens when a more recent or younger employee becomes a mentor to a senior colleague.
The inspiration for such an approach is to bring new and fresh perspectives to more seasoned executives and help them overcome potential biases. One case of reverse mentorship, reported in the Huffington Post, reveals a 96% retention rate in Millennial mentors.