Once these employees are hired, business leaders need to constantly invest in their employees to help them facilitate their growth. This investment in employee growth is crucial for retaining top talent in a very competitive job market.
One great way to do this is to create a well-organized employer mentoring program, which can benefit employees and companies alike.
Here are some of the main benefits of a well-thought-out and executed employer mentorship program.
Builds a Stronger Team
One of the most significant benefits of an employer mentorship program is it builds trust, camaraderie, and respect among coworkers. These characteristics are essential to teamwork, and they're often hard to build naturally.
By creating an employer mentorship program, employees can learn from each other rather than only from their supervisors. This can help break down the walls that exist between managers and the employees who answer to them, which can foster a better learning opportunity.
Ultimately, in this aspect, the mentorship program will improve your employees' knowledge while building a stronger team environment.
Some businesses are wary of educating their employees and helping them build their skills because they think they'll use this knowledge to get a better job elsewhere. If done properly, though, supplementing your employees' professional development will create a stronger sense of loyalty to your company.
Knowing that your business supports their career goals, employees are more likely to want to remain at your company and climb the corporate ladder rather than search for a new job at a new company. Employee retention is one of the keys to long-term business success and having an employer mentorship program helps.
A downside to providing educational and skill-building resources to employees is it can be quite expensive -- especially if you have a large employee base. However, when you create a mentorship program, you'll significantly reduce the costs of this education.
Through mentorship programs, you'll be leveraging the talent and knowledge your team already possesses instead of hiring an outside consultant to do the work for you. In addition to the reduced cost, it's more likely your employees will understand and retain the information better if it comes from coworkers rather than outside consultants.
An excellent suggestion is to take some of the money you would spend on the outside consultants and invest it into your employer mentorship program. This could be as simple as providing lunch for those going through a program or even bonuses to employees serving as educators.
These small investments will go a long way in making your employees happy.
DEI programs (diversity, equity, and inclusion) are big focuses of many businesses today -- and for a good reason. As Adam Ferrari, the CEO of Ferrari Energy explains, when you're able to create a diverse, equitable, and inclusive work environment, you're creating something that can make a significant impact for an extended period of time.
A solid employer mentorship program will help foster the strong DEI you desire. Each employee who serves as the mentor will be bringing their own unique background, experience, and interests to the table when they're teaching other coworkers, and those who they are mentoring will do the same for them.
By including your employees in this process, you're building a more diverse, equitable, and inclusive work environment in the process.