If you want your business to be successful in today’s extremely competitive market, it’s essential that you have low-cost but good-quality solutions. Especially if you’re relatively new in the industry, you can’t afford to spend much on improving the standard of your business operations. But if there’s one aspect of your business that you should spend time and effort on, that will be your employees.
Related: How to Manage People Who Are Your Former Peers
Through a good employee mentoring program, you’ll be allowing your business to capitalize on your people, who are actually your greatest resource. When you strategically develop their talent, you’re making them capable of contributing to the growth and innovation of your company.
With all the management tasks that you have, as well as the things you need to do to ensure the smooth running of your business, why should you spend time mentoring or coaching your staff? What you will read below are the most basic, yet very important benefits of offering mentoring or coaching to your employees:
It shows that the company cares about the development of its employees.
One of the most important benefits of providing workplace mentors is having somebody whom employees can ask questions to or seek guidance from. A mentor can play the role of a sounding board. He or she can help sort out options, find solutions to problems, and even give advice on business matters. More importantly, a mentor is someone who can listen whenever the mentee wants to vent.
It develops more engaged workers.
Companies and organizations benefit a lot from coaching programs as they contribute to the production of more engaged and better trained workers. Mentors share their knowledge and experience to their mentees so that the latter may learn to develop good relationships in the organization, to become valuable members of the company, and to identify skills they need to improve on.
It results in higher job satisfaction.
According to studies, mentoring and coaching programs play a very important role in reducing staff turnover. Researchers also conclude that those who are given the opportunity to mentor other employees experience a higher commitment to their job because of their increased job satisfaction. Similarly, those who undergo a mentoring program end up feeling content and satisfied with their jobs because they feel valued and they appreciate their employers’ concern about their development.
Conclusion
Mentoring programs are one of the best strategies you can use as a manager to improve employee engagement and productivity. It is also cost-effective, so there’s no excuse for you not to implement one in your business or organization. All you need to do is try, and see the results for yourself, and make sure you’re working with a reputable and experienced mentoring program provider.