Twomentor Releases Groundbreaking Insights on the ROI of Workplace Mentoring Initiatives
By: Twomentor, LLC
"Across the board, companies that invest in formal workplace mentoring programs experience substantial returns on their investment,"
Twomentor lists the top six benefits of formal workplace mentoring initiatives as:
• Having a more skilled and prepared workforce.
• Development of a diverse leadership pipeline.
• Enhanced manager success and improved succession planning.
• Significantly higher retention rates, especially for millennials.
• Increased employee engagement and commitment.
• Happier and more inclusive workplace culture.
"If we want more diversity, we need to mentor and sponsor more diversely," continues Kantor. "Our research supports that too often informal mentorship is not diverse mentorship. Lean In found that one in six men feel uncomfortable mentoring women. These studies showed that women and minorities usually connect better with their mentors through formal programs that offer an established, credible and supportive way for men to mentor women and minorities. Furthermore, researchers discovered that mentoring had the largest impact of all strategies, resulting in an increase of representation of minorities at the manager level by 9% to 24%."
Eight key lessons Twomentor shares in the whitepaper from its vast experience facilitating and initiating mentoring programs are:
• Managers that have been mentored find executive leaders are more accessible and authentic.
• Mentoring helps decrease corporate burn-out
• Companies need to engineer their mentoring programs for success [given that under 30% of executives have mentors and under 12% mentor others from Twomentor's field research].
• Formal mentoring programs produce better results than informal mentoring.
• Mentoring helps recruit high-performing interns to be employees.
• Senior managers benefit from Mentor 2.0 training on the difference between a mentor and a sponsor.
• Mentees want to give back to their mentors (reverse mentoring).
• Flash (speed) mentoring works to launch mentoring programs and boost engagement.
Page Updated Last on: Nov 15, 2019