Ever wondered how much it costs to hire the kind of talent you want, how much it costs when a talent walks out of the door and how hurting it is when employees take your investment in their development elsewhere? Retention of career-oriented employees, loss of experience and vital knowledge when workers leave as well as the demand to build your organizational capability continually, drives the need for mentoring. At mineweb.net you can learn more on mentoring. The following are some of the benefits of mentoring to your organization.
Attracting and retaining talent is important for any organization. Most of them invest in effective recruitment. Returns on such investment are not always guaranteed since even the brightest new hire takes time to be fully productive. When employees depart after two or three years, their development becomes an expense that leaves the company deficit. Investing in keeping people who intended to work for you from the start makes a lot of sense. Mentoring is a great tool for talent retention in an organization.
Development of people
Mentoring is all about building relationships at workplace. Being a source of skills transfer and knowledge, mentors guide decisions about workplace issues, ongoing professional development, and personal goals. They are professional friends and colleagues to share rough times and the good. When mentored you enhance assertiveness, planning, decision-making, problem solving and communication skills. They also get to gain control over their career and take responsibility for their professional development.
Breaks down barriers
Large organizations are usually compartmentalized to reduce cross-organizational communication. A sense of isolation may overwhelm new employees. Mentoring can help such employees to see the bigger picture more, so mentors and the mentees work in different parts of organizations. Mentors will often move around to establish networks. They also have a broader perspective of the organization which is beneficial to mentees.
Increasing return on investment
Managerial productivity is increased more by mentoring than training alone. Incorporating mentorship into your organization can help you get your required development return on investment. Mentors can work with people before, during and after learning events to make sure they are receptive to and see how relevant development opportunity is. Discussions can improve insight and retention of information. Mentoring also increases the likelihood of transferring learning into work practices.
Lack of career development is a primary influence on your organization staff turnover. Loyalty to organizations has over the years been wiped out due to restructuring and downsizing. Bright people manage their careers and will not stick around where they have no support progress, interest or opportunity and not just look for promotion or money. A mentor will point out the hidden opportunities and show you the pathways and support the plan, and when required, they provide a reality check. Mentors can enable you access information, build networks and stimulate sound decisions.…