Most employees are naturally curious and crave learning opportunities in the workplace. Without being given the opportunity to develop and gain new skills in a role, employees may feel stagnant and consider leaving for greener pastures. To keep less experienced staff engaged, consider implementing a mentorship program. A mentorship program pairs a seasoned staff member who can provide training and guidance with a less experienced and eager to learn employee. Employees in these programs tend to experience increased engagement, whether they are the mentor or mentee. In fact, there are substantial benefits for both an employee and employer in a well-executed mentorship program. To find out more about the top benefits of a mentorship program, continue reading.

 Knowledge Transfer

Typically, in most organizations there are a handful of senior staff who possess specialized knowledge based on their extensive experience. Should one of these employees move on to a new organization or retire, they will take their industry knowledge and best practices with them. The great thing about pairing up one of these senior staff members with a more junior colleague in a mentor/mentee relationship is that the mentor can take the time to share their best practices and expert knowledge with the mentee. The more staff at your organization that possess specialized knowledge the better your organization will perform. Also, if these senior staff members do move on from your organization you will not need to panic as they will have already transferred their knowledge to their mentees.

Reduction in Turnover

As a result of setting up junior staff with a mentor, you will likely see a reduction in turnover. Why? According to the Huffington Post, “79% of Millennials see mentoring as crucial to their career success.” This staggering statistic shows just how crucial it is to provide junior employees with the opportunity to learn from seasoned staff to keep them satisfied in their careers. The training and guidance millennials receive will help to grow their skillsets which provides them with greater prospects for advancement within the organization. More opportunity internally reduces the likelihood of disengaged millennials jumping ship for a competitor.

Increase Employee Engagement and Increase Productivity

When mentees get the chance to pick the brains of a mentor they gain priceless training and guidance. Getting to spend time with respected managers will make employees feel as though management cares about their development and seeks to help them grow into bigger and better positions within the organization. This is enticing for most employees who want to do better in their roles and ultimately climb the corporate ladder. When staff are highly engaged the result is they work harder and smarter and ultimately are more productive. When your employees are increasingly productive this will allow your organization to thrive. In this case, it’s clear to see how a mentorship program can provide a win-win scenario for both the employee and employer.

Develop Future Leaders

Another extremely crucial benefit a mentorship program can provide an organization is grooming junior staff for future leadership opportunities. The leaders in your organization have years of experience and have gained insight into industry best practices. By pairing leaders with junior staff, this promotes knowledge and experience sharing. As your senior leaders move on from your organization you can promote individuals from within by selecting from the internal pipeline of groomed prospective leaders. Promoting from within is much more cost effective and time saving as opposed to launching an external recruitment process to find leadership replacements.

The beauty of a mentorship program is that it is almost always a two-way street. Mentorship increases the learning and engagement of staff which translates to higher employee productivity and staff retention for business leaders. If you haven’t already implemented a mentorship program, it’s time to start considering one.

Post by: Christine Juszczak