Mentoring is a strategic tool that, when done right, can attract and retain high-potential talent and accelerate leadership development and readiness. Mentoring is also an effective tool for shaping organizational culture and closing engagement and generational gaps. It has often been said that the most important work of a leader is the development of other leaders. Employers are increasingly recognizing the benefits of mentoring in leadership development. According to a Corporate Executive Board survey, 25 percent of U.S. companies now host peer-mentoring programs, a significant increase from before the 2007 recession, when only 4 to 5 percent of U.S. companies reported sponsoring mentorship programs (Rouen, 2012). Unfortunately, as many HR and talent managers can attest, it can be quite challenging to develop and maintain successful mentoring programs.
This white paper:
- Discusses the benefits of effective mentoring programs and why more employers are embracing mentoring programs in their organizations; Delineates the difference between coaching and mentoring, terms that are often used interchangeably but erroneously;
- Reviews various types of mentoring programs; Offers steps HR and talent management professionals can use to launch successful and sustainable mentoring programs in their organizations, and;
- Provides examples of mentoring programs being used in organizations today.