How Can Mentorship Help Employers?
More and more companies, large and small, are incorporating workplace mentorship programs. A mentorship program pairs a more experienced or knowledgeable employee with one or more mentees.
Mentorship programs have obvious benefits for mentees and mentors. These relationships foster their professional and personal development. They can also help bridge cultural gaps for immigrants who are new to the Canadian workplace. But a strong mentorship program also benefits employers.
Participating in a mentorship program can benefit your company by providing new entries with the right skills in our labour market. They can also improve the skills of your current employees. Although there may be administrative costs of time and resources, mentorship programs can ease the transition for new employees. Partnering with an existing mentorship program can save your company some of these costs while adding the benefits of mentoring to your current and potential employees.
From the organization’s perspective, the Return on Investment (ROI) in a mentorship program can take many forms.
They educate.
Mentorship programs are excellent learning opportunities for both mentors and mentees. Employees who mentor develop their leadership and communication skills, which can make them better managers. Newcomers to Canada who are mentees gain insight into the local culture, making them better prepared as potential hires. Mentoring programs foster soft skills such as communication, listening, networking, and goal setting, all of which contribute to a positive work environment. All of these are assets to the organization for which the mentors and/or mentees work.
Mentorship programs will help you identify and prepare potential new leaders, addressing issues of talent shortages and reducing costs of recruiting and training.
They are reciprocal.
Mentoring relationships benefit both the mentor and the mentee. Both participants are expected to show up, be engaged, and be responsible for creating a learning environment. When the mentoring relationship works, it can be an empowering experience where the mentor and mentee learn from each other’s experience and perspective. This is because it requires collaboration and partnership to create an experience that is unique to the people involved. When successful. mentoring relationships can be a powerful asset to the participants’ professional development and in turn for your company.
They improve job satisfaction and retain employees.
Mentorship programs show internal and external stakeholders that your company cares about the wellbeing and development of your employees. Mentorship builds a culture of learning, professional development, and information sharing, which can improve job satisfaction for your employees. This leads to increased productivity and reduced turnover. Incorporating mentorship into your company may attract potential employees because it can set you apart from your competitors.
They save money.
Mentoring is time and cost-efficient by reducing the training mentees would otherwise require from coworkers and management. If newcomers are better prepared for the workplace, they will adapt more quickly to their new jobs. With engaged, competent employers, you will see less employee turnover costs for your company and less productivity costs for your team.
They increase diversity.
Mentorship will help you tap into global expertise and bring an international and diverse perspective to your workforce. Mentorship programs are a proven way to help newcomers transition to the Canadian workplace culture. These employees are often very loyal to their companies because they have been supported through the transition and they often become the leaders you need in the future.
They provide insight.
Mentorship programs can cultivate employees who listen, build relationships with depth, and create a meaningful professional network. This improves their teamwork and knowledge sharing, reminding employees of others’ roles and value. Through mentorship programs, organizations can gain insights into the general mood and overlying issues of which they may not otherwise be aware.
Want to Learn More? Use this guide from the Government of Alberta to create a welcoming environment for newcomers and to help you retain and engage your employees. Visit Website