As discussed in my previous post, a best in class mentoring program starts by establishing the specific objectives and desired outcomes of the mentoring experience. As part of that process, it’s key to pinpoint your mentee target audience. This will help define both the program structure and the skill sets needed by the mentors you engage. Over the course of my career as an international Organizational Development professional, I’ve seen growing interest in leveraging the power of mentoring to address two challenging talent dynamics facing companies today: 1) attracting and retaining women in STEM professions; and 2) effectively blending a multi-generational workforce. Mentoring programs tailored to address these specific issues can be a highly effective way to create competitive advantage through enhanced productivity, engagement, and retention. Here are some key factors to consider when designing mentoring initiatives to address these specific challenges.
As the war for talent continues to heat up, the ability to attract, retain and develop talent is more important than ever. Mentoring plays a critical role in enhancing employee satisfaction and creates competitive advantage in recruitment and retention. Particularly for Millennials, “on the job” professional development is a priority; they crave continuous learning and look to their employers for career development. If they don’t get it, they move on. At the same time, companies are faced with a wave of retirement among their most experienced talent, many of whom want or need to continue some level of professional employment. As noted in my earlier post on the benefits of mentoring, bringing these two groups together in a formal mentoring program creates the proverbial “win-win” for both organizations and individuals. Over the course of my career as an international Organizational Development professional, I’ve found that companies reap the greatest rewards from mentoring when they have formal programs and structures in place that proactively pair accomplished professionals with up-and-comers in the organization. Designing the right program prior to implementation is critical to its success. Here are five steps to creating a best-in-class mentoring program.
We all know the ability to attract, retain, and develop key talent is essential to an organization’s success. Doing so has never been more critical than it is today. It’s also more difficult than ever before. The colliding demographic, economic, and attitudinal shifts now occurring in the workforce as Boomers retire and Millennials begin their careers has created unprecedented churn and an ever-widening skill, experience, and wisdom gap. While Millennials are now the largest cohort in the US workforce, they are the least engaged, and their average company tenure is only three years. However, they cite coaching and professional development as key to higher job satisfaction. At the same time, while 10,000 Boomers retire every day, many want or need to continue some level of professional employment. And therein lies a tremendous opportunity. Bring these two groups together in a formal mentoring program. It is one sure-fire way to promote professional development and employee engagement in your organization.