Let’s get the fact straight. Days are gone when people used to go to the office so that they can pay their bills. Now people are more focused on job satisfaction and career development than just earning dollars. As a result, the corporate world has become incredibly competitive in the last two decades. Professionals are constantly searching for development opportunities; and when their organizations fail to provide that, they choose to move on.
According to a report, the replacement of a salaried employee can cost employers 6 to 9 months salary on average. While the cost of employee turnover can vary, it is something every employer wants to manage. And the best way to manage it is by providing employees with the growth opportunities they look for.
Career mentoring is a great strategy when it comes to developing employees within the organization.
What is Career Mentoring?
Career mentoring is a type of business mentoring where a more experienced employee guides, counsels, and advises a junior employee for their overall growth. It has a powerful impact on young employees at the professional and personal level.
A career mentor challenges traditional ways of thinking and encourages strategies that are outside of the mentee's comfort zone. They are responsible for providing support to the mentees.
Career mentoring has profound benefits for the mentees. Here are four key benefits:
#1 Benefits of Career Mentoring: Higher Rate of Career Development
Many young employees are so enthusiastic about career development or promotions that they fail to set realistic goals for themselves. Moreover, new employees do not have many resources within the organization which is essential for further growth.
Career mentors help their mentees stay focused and on track in their career through advice, skill development, resources, networking, and so on. Professionals who are involved in mentoring relationships are five times more likely to get promoted than those who didn’t receive mentoring.
A report of a female-to-female mentoring program by Flinders University in Australia says, 68% of mentees got promotion since the program started compared to 43% of staff who had not received mentoring.
#2 Benefits of Career Mentoring: Expanded Network
When it comes to advancing one’s career, it is extremely helpful to have a large network inside and outside an organization. Having a mentor can multiply a mentee’s professional network.
A career mentor can offer a mentee to expand his/her network by sharing their own professional and personal network. The mentee gets to interact with influential people they otherwise may not have had the opportunity to meet. This can have a great impact on the mentee’s career later, down the line.
Also read: Changing Career Paths? Mentoring Can Help.
#3 Benefits of Career Mentoring: Source of Encouragement
A wonderful benefit of mentoring is the encouragement that a mentee gets from a mentor to push themselves and achieve their goals. The motivation one gets from family and friends is good, but it wouldn’t compare with the advice from someone who has gone through the same problems as the mentee.
There are three ways a career mentor encourages a mentee:
- Encourage to set achievable goals: A career mentor knows a mentee and his/her strengths and weaknesses. They use this information to encourage the mentee to set realistic goals. When a mentee accomplishes the goal, they become more confident and enthusiastic about their roles.
- They put the mentees through challenges: A mentor puts the mentee through different challenges. When a mentee overcomes those challenges, they become aware of their capabilities which encourages them to take challenges and risks in their career.
- They show that they care: A mentor never fails to show their mentee that they care. Being there on the mentee’s side in times of need, and in times of celebration is a great way to encourage a mentee. And a career mentor does that.
#4 Benefits of Career Mentoring: A greater sense of personal well-being:
The benefits of mentoring go beyond promotion and networking. Having a career mentor improves one’s personal well-being.
In a study, researchers found that participating in a one-year mentoring program can improve the mentees’ self-esteem and self-assuredness on the job. The development opportunities that a mentor offers increases the confidence of the mentee in their work.
In addition to that, mentees developed stronger time-management skills and a better work-life balance after that program.
Now that you know the incredible benefits of career mentoring, check out how to find a career mentor.
Do you want to implement a mentoring program at your organisation? We are happy to help you!
Do you want to try our mentoring software for free? Request a demo.