5 Ways How Mentoring can change your Business?

By March 26, 2021 Mentor

All business requires some form of help or mentoring, as there is always scope for improvement. This help can be internal or external. Many firms employ third-party mentors. These mentors help in guiding the staff, impart necessary skills, qualities and motivation. Moreover, Mentorship helps in providing the required skills and knowledge to the mentees to reach the shared goals. It is not used to replace formal or traditional methods of training. It is a method of informal training that enhances the business and workplace.

Furthermore, We have highlighted five ways; how a Mentorship Program can completely change the game in regards to your business!

Enhances business model

Business Model

A mentor brings his own set of skills, knowledge, and perception. They help a business and the owner looks past the original scope and identity weaknesses in the model or business plan. They help in beating tunnel vision. It is common for business leaders to aggressively defend their beliefs and plans, however, with new data or facts they might re-examine their view. Constructive criticism or plans can help the company pivot to success more smoothly. Furthermore, This increases their intended dividends on their business and entrepreneurial journey.

Expand network

A mentor usually introduces the business to new connections. These could be in the form of clients, contractors, business owners, or even investors. Also, It gives them an opportunity to network. This leads to the further professional development of every individual involved in the process. In this case, the statement your network is your net worth holds. Also, you can check the list of exclusive mentors on Mentorkart.

Employee growth, satisfaction, and retention

Mentoring gives attention to individual employees’ needs, unlike traditional training methods. The mentees can work directly with the mentors to achieve their targets, resolve personal issues and improve their work. This can create closer bonds within the team and aid their professional lives. Both pre-planning and formulating the objectives during the sessions work, depending on the individual’s needs. Gaining the trust of these employees and working with them diligently is the only way of achieving these desired goals.

employee GrowthFurthermore, A key aspect of mentorship is retaining the employees. A mentor reduces the job frustration of employees with training, provides a confidential ear, and provides support to their wishes. Mentors support the employees in acclimating to the company’s work culture. Employees feel safer and more respected with mentorship programs. Also, These programs signal to them that the organization cares about their potential and is willing to invest resources and time. Employees in return are more loyal and productive.

Current employees or subordinates require training for leadership roles too. Businesses need to identify and prepare the next generation of leaders for their long-term survival. Therefore, Mentors help in identifying high-performing employees and work with them. They fine-tune leadership, communication, and other skills required for management or senior roles.

Most businesses and leaders do not have the time to focus on nurturing their employees. In this case, mentorship is a noble alternative for them. Mentos can focus solely on the employees’ needs, abilities or concerns. Mentors devote time to employees and act as a friend. Additionally, these methods avoid sending mixed signals to the subordinates about their performance or job prospects. This does not burden or distract the leaders from their concerned work.

Smoothen transition periods

Mentoring is essential in times of change. Change is the only constant, and every company goes through them also. Employee acceptance, reaction, and attitude are important in transformational or turbulent periods. Change is a necessary yet difficult aspect of the company’s growth. An employee’s acceptance or reaction can make or break these situations. Additionally, Mentors aid the employees by adjusting to these new roles, expectations, or situations. They receive the required training or guidance related to the new environment. Mentees can share their concerns and questions comfortably and confidently.

Possibility of remote working

 

A lot of people are choosing to work from home or remotely nowadays, mentoring help in training these employees. With the help of online communication tools like Zoom or Skype, maintaining a mentorship culture is easy. Lastly, Mentorship always works well face to face, and these tools bring the mentor and mentee together. In such situations, it is easier to work together and not brush any issues aside.