Whether you work online, hybrid, or completely in person there is an importance of mentorship in the workplace that needs to be addressed. Especially if you are new to the field, it is your first job out of college, or you want to move up in the company—having a mentor is essential. We have talked about employee satisfaction before and how companies can reduce turnover rates and this is another way to do so. With the importance of mentorship in the office, employers can develop a new personal level for their employees.
Why Is Mentorship Important in the Workplace?
By having a more experienced colleague in the workplace with a new one, it can ensure that the newer employee won’t become lost in the hustle and bustle of things. This is a great way to improve employee satisfaction as well in the workplace. However, it’s important to remember not to just randomly pair someone randomly. Employers should take the time to pair employees who are similar and will grow together. It is just as important to avoid conflict to prevent stress and burnout in employees. If you have opportunities to move up, this should be a program added to your company immediately.
Benefits the Human Psyche
In the article The Psychology of Workplace Mentoring Relationships, the authors write: “One way that people are able to self-expand is through developing relationships with others. Close relationships give people access to others’ resources, perspectives, and identities that can in turn facilitate goal accomplishment.” The importance of mentorship in the workplace not only benefits each person in the workplace, but it will ultimately raise goal accomplishments. More will likely be done at the end of the day and the employees will be happier. As humans, we are meant to work together and problem solve as a group.
Say Goodbye to High Turnover Rate
Together, a mentoring platform to help companies begin their own mentorship program, released some great statistics from Randstad (a company that used their program). “Randstad found that “employees participating in the mentoring program were 49% less likely to leave” and the costs saving associated with recruiting and training were ~$3,000 per employee per year. When reporting on their success, the program administrators at Randstad shared that:“Our people are finding the program incredibly valuable and are excited to be learning from other employees through mentorship.”” This is huge, especially for smaller companies that don’t have the assets to constantly rehire for the same position.
It’s clear that there is a huge importance of mentorship in the workplace whether your company is small or large. Not only will it benefit individuals but it will positively impact the company as a whole. There are so many different kinds of programs, partnerships and so on that are available to companies to research. So what are you waiting for? Start a mentorship program in your workplace today!