Why should you mentor?

Mentoring is widely recognized as an extremely beneficial career development tool. Research has shown that mentored employees:

• Perform better on the job

• Advance more rapidly within the organization

• Express lower turnover intentions than their nonmentored counterparts.

• Report more job and career satisfaction

The Business Case for Mentoring

According to a mentoring study conducted by the American Productivity & Quality Center:

• Thirty-five percent of employees who do not receive regular mentoring plan to seek other employment within a year.

• Only 16% of employees with good mentors planned to leave their companies.

• More than 60% of college and graduate students listed mentoring as a criterion for selecting an employer after graduation.

• Training alone increased managerial productivity by 24%, but jumped to 88% when mentoring and coaching were combined.

The high cost of employee turnover is well known. Costs due to an employee leaving include:

• Lost knowledge, skills, contacts.

• Time/productivity and/or mistakes of fill-in staff.

• Hiring and training new person.

• Lost productivity of new employee is 12 weeks on average

• Lost productivity of departing employee during transition: when their head leaves before their body does.

• Executive time planning transition, interviewing.

• Lost training provided to departing employee.