For any business organization, innovation, performance, and productivity are three key factors of success. Setting up an effective mentorship programs can help organizations support these three key factors.
Mentor programs have shown great success for business organizations over decades. 67% of business organizations say that mentor programs have helped them increase employee productivity and retention.
Strategic mentor programs can become a crucial part of your new employee onboarding process. They can help you increase employee engagement. Research studies show that mentor programs have helped organizations to:
Increase their profitability by 21%
Reduction in absent employees by 41%
Decrease in employee turnover by 59%
Mentor programs help your employees, new or old, get career development advice from other employees. This helps them succeed more in their current positions and the future. This is ideally a win-win situation for a business organization. But how do create a mentor program for your employees?
Here are a few pointers that will help you develop efficient mentor programs for your business organization.
Decide the objective of a mentor program
Before you start developing a mentor program and pairing a mentor with a mentee, make sure to decide the objective of the program. This will benefit your onboarding system efficiently. For example, if your mentor program is focused on creating leaders, make sure to team up a senior employee with a junior employee. This way the senior mentor can impart leadership knowledge to the junior building a great leader for future teams. But if your mentor program is focused on improving knowledge sharing, you can try other methods such as pairing employees based on subject matter expertise they might have.
Choose a mentor from a different line of work
It is not necessary to pair a mentor-mentee from the same line of work. You can choose a mentor-mentee pairing from different departments, for example, a marketing senior manager can become a mentor for a mentee from R&D departments.
This is beneficial in several ways: the mentor will be able to give a fresh and different perspective. Also, the mentee can learn different aspects of the organization easily.
Pairing based on data results
A key metric to focus on for the success of any mentorship program is the quality of the pairing. Improve this metric by giving interested employees a survey asking them about their career aspirations, what they look for in a mentor, what do they want to achieve with this program.
Based on this data, you can pair the mentee with a mentor. It has been observed that a pairing is a success when they have similar interests and preferences.
As soon as the mentor-mentee are paired, share a checklist or an information packet that guides them on next steps. The pair must engage in a discussion to decide what they want from this relationship. This will make them both accountable for the success of the relationship. Similar to buddy programs for new hires, mentor programs need to have exact goals for the success of the program.
This will also help them both determine milestones that can be set over time to measure progress.
Create a plan
After crafting goals, let the mentor and mentee plan cadence and engagement methods depending on their work schedules. The HR team can provide guidance and suggestions by communicating the right over time as the mentorship program commences to ensure that the program is running on track.
At Squadsy, we are always looking at ways that make the onboarding process simple and effective. Mentor programs can be key to achieving a successful onboarding experience for new hires. If you want to discuss more on this, get in touch with us!