Internal Mentorship: Training and retaining top talent.

Throughout my whole life, I have had mentors and role models.

These people have had a tremendous impact on me and have highly contributed to the person that I am today.

Whether it be family, friends, athletic coaches, managers, or successful entrepreneurs, I have been fortunate to surround myself with highly motivated individuals. I have applied their teachings to the best of my abilities in all that I do, both personally and professionally.

However, it wasn’t until recently that I began paying for coaching from a third-party source (Unrelated to my industry). It has been refreshing to learn from skilled professionals. They have an unbiased opinion and a vested interest in my growth.

When someone actually cares about your learning and development, more results can be achieved. True coaches and mentors want you to succeed just as badly as they want themselves to succeed.

The unfortunate truth is that the majority of people do not pay for consultants or coaching. They may not even have a mentor in their life at all. They are not directly benefiting from someone who cares about their professional growth and success.

Imagine if this was an avenue provided for you by your employer. What if someone within your company was assigned as your direct mentor to ensure that you achieve your true potential?

Many companies do not provide mentorship, training, or true opportunity for growth to their employees. If the employee does not feel that they have a bright future at their company, they will look elsewhere for that opportunity.

Luckily, we DO have examples of this.

Fortunately for us, there are indeed companies that excel with mentorship programs. Here are a few that you may recall:

→ Google: Known for its peer-to-peer mentoring programs and career development initiatives.

→ IBM: Offers various mentorship programs, including reverse mentoring where younger employees mentor more senior staff.

→ Microsoft: Runs the Microsoft Aspire Experience, a two-year mentorship program for recent graduates.

→ Salesforce: Encourages mentorship through its Women's Network and Equality Groups.

→ General Electric (GE): Has long-standing mentorship programs as part of its leadership development initiatives.

By investing in these strategies, companies can create impactful mentorship programs that support the growth and success of their employees.

Why should this be of importance?

Companies that do not institute mentorship programs are missing the rewards of training and retaining top-tier talent. In today’s competitive business environment, companies are constantly seeking ways to attract, develop, and keep the very best employees possible. One proven strategy is the implementation of a mentorship program. Beyond just being a trendy HR initiative, mentorship programs offer a plethora of benefits for both employees and the organization as a whole. Here are some of the key advantages:

→ Enhanced Employee Development

→ Increased Employee Engagement and Retention

→ Knowledge Transfer and Succession Planning

→ Improved Performance and Productivity

→ Diverse Perspectives and Innovation

→ Leadership Development

→ Cultural Alignment and Organizational Values

→ Enhanced Employee Well-being

Implementing a mentorship program is a strategic investment that yields numerous benefits for both employees and the organization. From enhancing employee development and engagement to fostering innovation and leadership, the advantages of mentorship are clear. Companies that prioritize mentorship programs are not only investing in their employees' growth but also building a stronger, more resilient organization. By creating a culture of mentorship, companies can thrive in today’s dynamic business landscape and secure a brighter future for their workforce.

Every company can institute this.

Companies both big and small can create a mentorship program. This can be as simple or as intricate as you’d like. A hefty investment is not required, but rather just some creativity.

It’s important to create several avenues to provide a program like this. Although there is no proven science to this, there are simple ways to get things started. Consider trying these:

→ Start by identifying the goals of the mentorship program, such as professional development, knowledge transfer, leadership development, or onboarding support.

→ Structure your programs with set guidelines, timelines, and objectives.

→ Have your employees apply to be mentors or mentees, often providing information about their interests, skills, and career goals. Match based on mutual interests, career goals, and compatibility, often using software or HR personnel.

→ Provide guides, toolkits, and online resources to support both mentors and mentees.

→ Encourage mentors and mentees to set clear goals and expectations at the start of their relationship. Schedule regular check-ins to ensure consistent engagement.

→ Establish key performance indicators (KPIs) to measure the program’s effectiveness, such as employee satisfaction, retention rates, and career progression. Conduct regular surveys and gather feedback from participants to assess the program’s impact and areas for improvement.

The process is fairly simple, it just requires effort from your end to get started. Before you know it, the departments within the company will be far more cohesive and productive.

Start small by gauging interest.

Formal mentorship may not be for everyone, but it is likely to be supported by the majority of your organization. The best way to start is to gauge the level of interest within the company. Send an internal survey to everyone and express the potential opportunity that may be in store with a mentorship program. Based on everyone’s feedback, a decision can be made.

I am forever grateful to those who have mentored me. I credit them with much of my success in sports, professionally, and socially. Those people will remain the most impactful and important people that I have ever worked with.

It would be wise to create an avenue for others to feel the same.