The magic of mentoring in engaging and developing the potential of individuals is evident on a daily basis, and the statistics back this up.
More than 70% of Fortune 500 and private companies use mentoring to attract, develop and retain talent as well as boosting productivity.
Research by ASTD discovered that managerial productivity increased by 88% when mentoring was involved in staff development, compared with an increase of just 24% with training alone.
Findings published in June 2019 by AAT revealed that whilst 37% of members said they would like their organisation to run a formal mentoring program, yet only one in twelve members reported that their organisation currently runs one.
The same survey found that the most valuable trait mentees took from meeting with a mentor was confidence. 28% said that having a mentor gave them new skills, but interestingly a similar number said it gave them someone to talk to.
Mentoring is mutually beneficial
Mentoring schemes can be extremely effective in helping individuals to improve their skill set – both for mentors and mentees, as both parties will experience personal development through their involvement in the relationship. In the case of the mentee they will learn from someone with either more or different experience to their own. Mentors will have an opportunity to hone their leadership skills, learn new approaches and see different perspectives and challenges.
Mentors don’t necessarily have to be of an older age or higher up the career ladder. In recent times reverse mentoring has become increasingly relevant as seasoned professionals turn to younger professionals to gain new views on the world of work from the perspective of a new generation. Younger mentors can also pass on their knowledge about using new technologies and social media etc. In an ever-evolving world it is important to continue our learning and understanding whatever level we are in our career.
Peer to peer mentoring
This is another area that has become increasingly popular. The pandemic period has thrown up challenges that have been completely new to all of us and peer to peer mentoring has proven to be a real benefit, enabling professionals who are facing specific challenges to work together on these issues and to provide mutual support. It’s a refreshing and revealing way to exchange ideas and knowledge.
So, if you think you could benefit from either becoming a mentor or a mentee why not take a look at the Charity Retail Association’s mentoring program.