Mentorship was much more common in the last generation. A boss often viewed his or her employees as their protege and because of that wanted to pass on as much wisdom as possible, helping to steer their career. As that mindset has become a thing of the past, new companies are seeking ways to form meaningful connections with their workers. One of the key factors in a successful workplace is the employee’s purpose aligning with that of the company’s. When everyone’s on the same page business can thrive.

Studies have shown that the effects of mentorship resonate throughout a company. It increases job satisfaction, which in turn increases productivity. Not only are the mentees reaping benefits, but the mentors themselves, who also become more likely to receive raises and promotions. 

A mentorship is defined as a period of time when an individual receives guidance from someone else with more experience in a common field. For mentoring to be successful in the workplace the relationship should feel personal, not like something that human resources is requiring of everyone. Some companies allow mentee’s to have input into who they would like mentoring them, ensuring it’s a good match.

It’s important that the expectations are clear. It is not a way to get fast tracked for promotion. Rather both the mentee and the mentor will gain further personal and professional development, helping them to achieve personal goals, and instilling better insight into whatever their position entails.
Mentorship in the workplace is on the rise with more than half of Fortune 500 companies having some sort of program in place. To retain employees and bring out the best in them more organizations should look into building programs that allow coworkers to form mentee/mentor relationships, allowing them to grow personally and professionally.

Workplace diversity programs may want to take notes on what these mentorship programs are getting right. A study conducted by Cornell University’s School of Industrial and Labor Relations showed evidence that the retention and promotion rates of minority groups and women drastically improved within the mentoring program, versus the non-mentored. It also boosted the representation of minorities at the management levels. Mentorship’s help both of the parties involved to develop professionally, gaining the confidence to reach higher levels of performance.

Having a mentor to help show you the reins, answer questions, and overall encourage growth may be a key factor in employees gaining the willingness to strive for more. Everyone needs to be seen and heard and these programs are doing just that. The value of mentoring in the workplace is undeniable.