January is National Mentoring Month, and the Express Blog is launching a new series called The Value of Mentorship for leaders and job seekers. This is part one of the 12-part series, so check back for new weekly installments!
Mentorship can take on many forms, including volunteering at a community organization, managing an intern, or coaching students who desire to work in your field. The premise is always the same—to impart your knowledge and expertise to a less-experienced, yet eager-to-learn, person who is ready to grow.
Mentoring relationships can be established in any phase of life and these connections are forged through networking, professional organizations, and mutual friends. There is also immense value offered by in-house mentorship programs at work.
In-House Initiatives
According to a survey conducted by The Harris Poll on behalf of Express Employment Professionals, U.S. and Canadian hiring decision-makers believe in-house mentorship programs aid training and upskilling while attracting prospective employees. Most respondents indicated their companies provide on-the-job training and upskilling, while only 40% of U.S. and 34% of Canadian companies offer mentorship programs.
Gallup’s 2023 State of the Global Workplace report shows that unengaged employees cost an estimated $8.8 trillion in lost productivity worldwide. While only 23% of employees are actively engaged globally, and 51% are looking for a new job, mentorship at work could be the missing key to employee engagement and a tool for retention.
Anticipated Rise in Mentorship Programs
With the potential to positively impact workplace culture, employees’ futures, and the company’s ability to recruit new employees, in-house mentorship programs offer a multitude of benefits for employees and employers.
Of companies that don’t have a mentorship program, 52% of U.S. and 41% of Canadian hiring decision-makers plan to implement one in the next two years, according to The Harris Poll.
According to HR Research Institute’s The State of Coaching and Mentoring 2023 report, the top five reasons organizations around the world start mentoring or coaching programs include creating a positive culture, preparing people for new roles or assignments, providing guidance to help others realize their potential, and improving employee engagement and retention.
The combination of an aging labor force, growing skill and knowledge gaps, and the rising popularity of prioritizing skills over degrees is influencing the demand for shared knowledge, and in-house mentoring programs can help meet that need.
Does your workplace offer a mentorship program? Share your experience with mentorship at work in the comments!
To provide accurate and timely employment forecasts for business leaders, Express Employment Professionals commissions an ongoing Job Insights survey to track employment and hiring trends across a wide range of industries.
The Job Insights survey was conducted online within the United States by The Harris Poll on behalf of Express Employment Professionals between June 13 and June 26, 2023, among 1,010 U.S. hiring decision-makers. The Job Insights survey was conducted online within Canada by The Harris Poll on behalf of Express Employment Professionals between June 8 and June 22, 2023, among 510 Canadian hiring decision-makers.
