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4 benefits of workplace mentoring programs

To be successful in todays' market, businesses need to constantly evolve and adapt to changing conditions and contexts. Workplace mentoring program are a good way to coach employees in company policy and inner workings. The benefits of mentoring programs are immense and it's no wonder more and more organizations have begun establishing permanent mentoring programs to bolster their workforce.

1. Mentoring creates a learning culture

Establishing a mentoring program in the workplace shows employees you value learning and personal development. Employees are more likely to remain invested in a role if they're confident management sees them as a valuable asset rather than just a simple 'worker.'

Creating a learning culture also has the effect of improving long-term productivity and product quality. When employees are paired with a guiding mentor, they'll be more likely to take risks and learn from mistakes, this feeds a culture of innovation and self-governing workforces.

2. Mentoring reduces job turnover

Every organization should aim to have as high an employee retention rate as possible. High turnover results in both increased fixed and variable costs.

Mentoring programs can positively influence job satisfaction, particularly for new employees. Mentoring generally decreases stress and anxiety in the workplace. Mentors sever as a middleman between employees and management.

A workplace mentor should be someone an employee can turn to for advice when things go wrong. Knowing that mentors are there to help carry the burden in stressful work environments can put employees at ease.

3. Mentors benefit too

Mentees aren't' the only ones who benefit from mentoring programs in the workplace. Mentors also benefit from the relationships formed as part of mentoring. Mentors are generally more satisfied with their jobs and feel a stringer sense of commitment to their roles and organization as a whole.

Just as employees enjoy knowing that their organization is actively investing in their growth through mentoring, mentors gain the satisfaction of knowing that their sills and input are valued.

4. Mentoring reduces the cost of learning

Most organizations that create mentoring programs will also have some form of formal learning and development department. For a majority of organizations however, mentoring is proven to be more effective and cost-efficient than traditional training methods.

For organizations that do not yet have a formal learning department, mentoring is a great place to begin your employee's education.

Related Articles:

What is a mentor?

How to develop a successful mentor program