For any business, high turnover rates are detrimental to company health. However, many organizations still overlook mentoring programs as a tool for increasing job satisfaction and reducing turnover. A primary reason for this is that the ROI for mentoring programs is difficult to measure. However, mentoring can improve confidence, communication, focus, relationships, and performance.

In many cases, employees are thrown into a new role without any knowledge of what the company expects of them — or without the adequate resources to adjust to their new responsibilities. This makes them feel uncomfortable, out of the loop, and in desperate need of guidance and support. The truth is that mentoring programs benefit both the employee and the company by creating happy, productive workers who are loyal to the organization. Here’s how:

The Benefits of Mentoring Programs for Employee Retention

Increased ROI: When you hire an employee, you’re making an investment. Companies invest time and money in each and every employee, so it’s beneficial not only to keep them, but to fully utilize their individual talents and potential, which can be brought out through mentoring.

Employee Job Satisfaction: When a company provides a mentorship program, it’s sending a message to employees: “We value you as an individual and an employee. We will not take you for granted. We’re here to help.”

Creation of Stakeholders: Stakeholders are manifested through investment and a feeling of value. By using mentoring programs, companies create stakeholders out of their employees, who will strive to give more and to increase the return on the company’s investment. Stakeholders want to feel valued; once they do, they’re more productive.

Improved Company Health: Negativity, such as unconstructive criticism, torpedoes employee morale and productivity. It increases instability and lessens connectivity and continuity, creating environments employees don’t want to stay in. Mentoring programs, on the other hand, focus on a positive way to improve the future of the company, which increases company health.

Understanding of Individualism in Guiding Values: As managers, we often fail to consider that others have different guiding values than our own. Mentoring reveals the guiding values of each individual employee so we can understand, respect, and utilize those values.

Enhanced Change Process: Change is often painful, can spur resistance and resentment, and can even cause employees to leave in search of an easier path. Through mentoring, you’re able to share the change process, empathize with the person experiencing the change, and give him the tools he needs to make the process easier.

Seven Steps for Implementing a Mentorship Program

While mentoring programs can greatly benefit both the company and its employees, they must be handled carefully in order to maximize the benefits and minimize potential issues. Follow these seven steps for implementing a mentorship program:

•       Step 1: Establish Goals
Discuss and establish goals for the mentoring program. What outcome do you need from the training? What are the supervisors’ expectations? How will the program bring mentees from where they are now to where they need to be?

•       Step 2: Match Mentors with Mentees
The mentor/mentee relationship is a close one. You should take great care in matching appropriate mentors who will work well with specific mentees.

•       Step 3: Introduce the Program
Once the first two steps are completed, the program’s parameters should be clearly presented to all stakeholders. Clearly identify all expectations for every individual involved.

•       Step 4: Implement the Program
Begin the program with a workshop. Identifying participants’ values and beliefs will open the playing field and allow for honest interaction.

•       Step 5: Maintain Close Interaction
Throughout the program, maintain close communication with the participants to ensure the program stays focused.

•       Step 6: Evaluation
Thoroughly evaluate what effect the mentorship program is having on mentors, mentees, and the company. If not followed closely, certain factors, like a bad mentor/mentee pairing, can actually be detrimental to those involved. This step allows you to make any needed changes.

•       Step 7: Follow Up
Follow-up is critical for maintaining momentum. If left alone, mentorship programs can lose momentum and become unproductive.

In order to be credible in today’s marketplace, returning clients need to feel they’re working with a stable organization. For this, employee retention is critical. Mentoring programs fulfill two vital factors in fueling employee satisfaction and retention. First, they allow employees to reach personal goals by helping them develop as individuals. Second, they help employees see that the company understands and appreciates the value they bring to the workplace. Together, these two things lead to the job satisfaction and company loyalty needed to build a stable, successful organization.


</br>Rod Beau has been an internationally sought-after education and management consultant and keynote speaker for over 25 years. His practical, real-world business experience and career has been in educational leadership, relocation consulting, and executive coaching. As a senior consultant at Rod Beau Coaching Mentoring and Consulting, he is a master facilitator with experience in Steven Covey's Seven Habits of Effective People / Effective Teenagers, as well as a Life Mastery coach. Connect with Rod on Twitter and Google+.