The role of a mentor is to encourage the personal and professional development of a mentoree through the sharing of knowledge, expertise and experience. The mentoring relationship is built on mutual trust, respect and communication, and involves both parties meeting regularly to exchange ideas, discuss progress and set goals for further development.
Here are some of the primary benefits of offering business mentoring within your company:
Benefits for Mentorees
Being mentored is one of the most valuable and effective development opportunities you can offer employees. Having the guidance, encouragement and support of a trusted and experienced mentor can provide a mentoree with a broad range of personal and professional benefits, which ultimately lead to improved performance in the workplace.
For mentorees, some key benefits of business mentoring include:
- exposure to new ideas and ways of thinking
- advice on developing strengths and overcoming weaknesses
- guidance on professional development and advancement
- increased visibility and recognition within the company
- the opportunity to develop new skills and knowledge.
Benefits for Mentors
Mentoring is more than the transfer of advice, knowledge and insights. The relationship offers reciprocal benefits for mentors willing to invest their time in developing another professional. As well as the personal satisfaction of sharing their skills and experience with a willing learner, being involved in mentoring also provides some tangible benefits that can reward mentors professionally.
Some key benefits for mentors include:
- recognition as a subject matter expert and leader
- exposure to fresh perspectives, ideas and approaches
- extension of their professional development record
- opportunity to reflect on their own goals and practices
- development of their personal leadership and coaching styles.
Benefits for the Company
For employers, investing in business mentoring is a useful and cost-effective way to develop your top emerging talent and keep your most knowledgeable and experienced performers engaged and energised. As well as the transferral of critical business knowledge and skills, mentoring helps to develop a pipeline of future leaders who understand the skills and attitudes required to succeed within the company.
For employers, investing in mentoring helps to:
- develop a culture of personal and professional growth
- share desired company behaviours and attitudes
- enhance leadership and coaching skills in managers
- improve staff morale, performance and motivation
- engage, retain and develop performers.