Your people are your greatest asset, and sometimes, trying to get the most out of your workforce can be a challenge. There’s only so much training and formation your staff can take, and it can be easy for it to reach the point of saturation. However, corporate mentoring can work wonders to boost your workforce’s efficiency, engagement, and expertise. Here are some of the reasons why your business should consider corporate mentoring.

Onboarding and Recruitment

For the modern employee, knowing that a mentor will guide them as soon as they come in will serve as a huge motivation and selling point when it comes to recruitment. This shows that your business is serious about integrating new employees and that you’re fully invested in their professional and personal success. Once you welcome new hires, a corporate mentoring program will allow them to understand and integrate your business’s corporate culture, making the whole onboarding process more efficient and allowing you to reduce time-to-productivity significantly.

Employee Retention

The revolving door has always been a challenge for businesses, and it’s an even bigger challenge with the current workforce. According to a recent study, more than 60% of millennials surveyed believed that changing positions was beneficial for career advancement. Employees are more and more acting like customers that can go wherever they want, so you have to take a different approach to ensure you keep them loyal.

High achieving employees need to feel like they are meeting their goals and are actually advancing and not moving in place. Mentoring is one of the best ways to make your employee feel like they are not held back by your business but nurtured.

Employer Branding

Speaking of employee retention, most companies that have a low turnover do a great job at branding themselves as employers. Employees are just as concerned about their compensation package as they are with the company itself. Having a strong mentoring program can have a huge impact on your brand as an employer, as it will reflect an opportunity for employee growth.

Diversity Enhancement

The current workforce puts a lot of importance on diversity and including members of every group is important to boost morale and retention as well. Your employees need to feel represented and finding mentors that reflect them is a great way to make them feel welcomed and listened to. A diverse mentoring program could give you a significant competitive edge over your competition and encourage recruitment.

Talent Development

Development and learning are one of the biggest concerns for modern businesses. As a matter of fact, a recent report by Deloitte found that development and learning issues climbed from 8th to 3rd position in order of importance when it came to talent challenges. Mentoring is one of the best ways to nurture and develop talent and help your employees realize their full potential.

Conclusion

As you can see, corporate mentoring can benefit your business in a wide number of ways. Investing in a mentoring program will not only boost your employee morale and engagement but productivity as well.