Founded in 2002 by The Harvard School of Public Health and MENTOR: The National Mentoring Partnership – National Mentoring Month is celebrated in January. This is timely if you’re still trying to decide on your 2020 resolutions – get a mentor! Not convinced? More than 70% of Fortune 500 organizations offer mentorship programs due to the added benefits they offer to both mentors and mentees.
According to a study conducted by The Wharton School, “Mentors were promoted six times more often than those not in the program; mentees were promoted five times more often than those not in the program; and retention rates were much higher for mentees (72%) and mentors (69%) than for employees who did not participate in the mentoring program (49%).”
This month, GQR celebrates mentoring as we reflect on our own program and the impact it’s had on driving positive employee experiences.
“If I have seen further, it is by standing on the shoulders of giants” – Sir Isaac Newton
What Is A Mentor?
In the most basic terms, a mentor is a trusted advisor – either personally or professionally. And, a mentor agrees to make themselves available to support and guide an individual (or mentee) less experienced than themselves.
At GQR, we have found that pairing mentors with mentees outside their core teams to be very successful. This helps facilitate greater collaboration across the business, and also brings fresh perspectives to challenges and strategy sessions.
“A mentor is someone that will allow you to see hope inside yourself. Ever since joining GQR Ismail has allowed me to envision my future and potential here with the business.” – Sam Ferrone, Investment & Advisory Analyst
How Can You Benefit From Having A Mentor?
In addition to the aforementioned career advancement benefits, having a mentor is one of the most valuable and effective development strategies you can leverage. It creates a safe space for learning and can decrease stress and anxiety when faced with challenges – in and out of the workplace. Unbiased feedback and growing your network are also added benefits of having a mentor. And, it can massively affect personal satisfaction with your employer as relatedness is a key factor in driving quality motivation at work. These things ultimately lead to improved performance and productivity.
“My mentor, is absolutely delightful and displays a sense of care here in the office and out. We’ve had great talks over lunch throughout the months and she’s been nothing but a positive reinforcement for me day-to-day. She provides great guidance, insight and support and I hold GQR’s mentorship program in a high regard.” – Elias Saigail, Senior Associate, Legal
But mentors benefit too! According to a 2013 study, “Career Benefits Associated with Mentoring for Mentors,” published in the Journal of Vocational Behavior, mentors versus non-mentors were more satisfied with their jobs and had a stronger sense of commitment to the organization as a whole.
What Makes A Good Mentor?
- The desire to motivate and help others succeed
- A willingness to pass along information and provide constructive feedback
- Making space for mentees to ask questions
- Having the ability to reflect on own practices and experiences and being open to sharing
- Demonstrating behaviors of a positive role model
- Investing in the mentor/mentee relationship
How Can Your Business Benefit From A Mentorship Program?
- It demonstrates a commitment to learning and development which helps foster a culture of personal and professional growth
- Creates a safe place for development and can reduce the cost (or need) of expensive professional learning platforms
- Helps drive a collaborative work environment, which fuels productivity and performance
- Increases job satisfaction and reduces turnover