Mentoring programs can have a significant impact on organizations’ business goals, in addition to employee professional development, according to new research from the Association for Talent Development (ATD). Read the full Report: Mentoring Matters: Developing Talent With Formal Mentoring Programs.
The top benefits to organizations with formal mentoring programs were higher employee engagement and retention (50 percent), support for the growth of high-potential employees (46 percent), the creation of intra-organizational relationships and collaboration (37 percent), and knowledge management and transfer (37 percent).
Other key findings in the report (based on the 285 participants whose organizations have formal mentoring programs) are:
· Organizations that train mentors and mentees before or during the program in skills, such as communication, listening, and accountability, are significantly more likely to indicate that mentoring programs are highly effective at meeting their learning goals.
· The top three benefits mentees received from participating in mentoring programs were professional development (36 percent), a better understanding of organizational culture (30 percent), and the development of new perspectives (27 percent).
· The top three benefits mentors received from participating in mentoring programs were the development of new perspectives (59 percent), the development of leadership skills (49 percent), and insight into the organization (38 percent).
· Results showed that 57 percent thought their organizations’ mentoring programs were effective to a high or very high extent at achieving learning goals, while 38 percent of their organizations’ mentoring programs were effective to a high or very high extent at achieving business goals.
Some recommendations based on the research findings are:
· Test with a pilot program.
· Use mentors for new hires.
· Evaluate performance before and after the program to measure effectiveness.
· Provide clear guidelines and training for all involved.
· Get buy-in from senior leaders.
The Association for Talent Development (ATD) is the world’s largest professional membership organization supporting those who develop the knowledge and skills of employees, improve performance, and help to achieve results for the organizations they serve. Originally established in 1943, the association was previously known as the American Society for Training & Development (ASTD).
ATD’s members come from more than 120 countries and work in public and private organizations in every industry sector. ATD supports talent development professionals who gather locally in volunteer-led U.S. chapters and international member networks, and with international strategic partners. For more information, visit www.td.org. ###