How Mentorship can help your Business

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Mentor and plan for the future

Remote work has been an adjustment (to say the least) for everyone, and its effect on our professional relationships has been just as significant as the impact on daily tasks. For early-career employees, the lack of casual conversations at work poses a considerable challenge. How does one learn best practices to succeed in one’s career when you’re working alone from home? How does one build the professional relationships that are critical for survival and advancement? On the organizational side, how does the business build a culture that supports diversity and inclusion initiatives in the middle of a pandemic?

Those who accompany you on your business journey are just as vital to the success of your business as you are. Investing in your workforce leads to an army of talent who are committed to you and the company. The time invested also brings new ideas and commitment to the business, increases productivity and builds enthusiastic future leaders. 

When you mentor, you set an example on how to move a business forward. Think of those you look up to. Inspiring people who showed you how to push the boundaries, be creative and develop your work ethic.

If you are discerning when hiring, and look for employees whose vision is aligned with yours, you will find candidates that will be receptive to training and mentorship. Grooming talent is the only way for any business to reach its true potential.

Let’s look at some of the benefits of mentoring

Lower employee turnover

The value of happy workers cannot be understated and mentored employees results in less turnover within the company. Investing in an employee’s future leads to a sense of ownership and commitment within the company and committed employees are more likely to be loyal. They are also more likely to be engaged with the success of your company. Take the time to create an environment that’s inclusive and encourage employees to take on projects that go beyond their current job description, then reward that growth.

Your communication skills are needed

Connection is critical for the younger generations. Millennials and Gen Z communicate differently from those ahead of them. While their communication strategies can have practical benefits, personal connection is often lost in the process. Training the younger generations to spend face-to-face time with other team members and to invest in the professional growth of their peers and colleagues by spending significant one-on-one time will be profitable to the success of your business and them as they move forward in their career.

Succession planning is smart

Through strong mentorship you are creating a pipeline of talent to replace the key employees when they leave the company. You are also creating a safety net that ensures a succession of leadership. The search for talent is one of the most expensive and time-consuming endeavours a company can undertake and growing and grooming talent internally is a tremendous cost saving. It relieves a great deal of pressure on management and helps ensure the longevity of a company.

Interested in mentorship?

Did you know that Pronamics Strategic Director, Johanna Townsley, mentors business owners?

Read about her go-to business reading recommendation here.