The title of “manager” makes it sound like your entire responsibility is simply keeping track of your employees and maximizing their performance. Of course you want to elicit high-level productivity from your team, but your fastest route to success is to offer something back to the people who work for you. The most successful managers enter into a mentoring, or “coaching,” relationship with their direct reports. Here’s a look at why mentoring is so important, together with some best practice tips for putting together a mentorship program that really works.
Mentoring Builds Employee Alignment
Your employees have ambitions for where they want their careers to go, and it’s to your company’s benefit if the person doesn’t need to job-hop in order to realize those ambitions. Daimler Trucks has instituted a proactive mentoring plan throughout its entire 4,000 employee U.S. workforce as part of its leadership succession planning. Suz Hahn, Daimler’s Architect of Learning and Development, states that: “Daimler realizes mentoring is key to the health of our organization.” The company finds that employees who gain new skills become more engaged, and are also eager to spread their knowledge and best practices throughout the entire company.
Millennials Expect and Appreciate Mentoring
Today, more than one in three of your workers are millennials (people between the ages of 18 and 34), and this generation makes up the largest percentage of the U.S. workforce. These are the employees with the freshest skills and the keenest awareness of marketplace trends, and it’s clearly in your best interest to meet their needs. There are real differences in what this age group expects from their workplace, however, and 53 percent of managers say that it’s difficult to find and retain millennial employees. Providing mentorship is your most effective tool for attracting and retaining this demographic: A 2016 Deloitte millennial survey notes that of those respondents who plan to stay with their current company for the next five years, 68 percent say they have a mentor. To get down to exact nitty-gritty of these expectations, the millennials surveyed state that in an ideal week, 3.6 hours would be spent receiving coaching and mentoring.
Focus on Knowledge Transfer
Knowledge Transfer (sometimes shortened to KT) mentoring is described by Corporate Executive Board survey shows the growing recognition that structured mentorship programs are worth the effort: 25 percent of U.S. companies now host some type of formal mentorship program, as compared with only 4 or 5 percent a decade ago.
Mentorship Is About Building Relationships
Leadership coach, Luis Velasquez, notes that, “Mentoring is one method that can tip the scales on employee engagement by fostering lasting relationships among employees, promoting career development, and facilitating the transfer of knowledge within a company.” Using mentorship effectively as a tool to strengthen the organization is one of today’s key management skills. Plus, sharing what you’ve learned with an eager young protege can be a highly gratifying process.
For more insights on tools for great team-building in your organization, download our employee recognition eBook covering 3 Ways to Make Recognition an Everyday Event.