The Importance of Mentoring Relationships in Business

 

 

What did Steve Jobs, Larry Page and Sergey Brin have in common? Excellent business mentors. Aside from being geniuses, and “tech titans” they knew the value of having a business mentor and they’re not alone. Throughout history there are examples of mentoring relationships right back the days of Socrates’ and Plato.

 

There are many benefits to having a mentor. Someone who has already faced the challenges in business management can have valuable advice when it comes to problems arising. They can provide experience, knowledge and wisdom in areas you may be lacking. A business mentor can become someone you can trust, lean on for support when making big decisions and also provide thoughtful risk assessments. Sometimes just having a sounding board can be a helpful tool when starting out in a business.

 

It doesn’t mean either that the mentoring relationship is just for people new to certain businesses. In fact, it can be of great benefit to even those who have years of experience as it may give you a new set of eyes on any issues you may encounter.

The benefits though go further than that.

  • It can increase loyalty. No longer are they simply employed by a business, they are connected to others which can increase their loyalty and reduce the likelihood of them leaving the company. The connection can help foster stronger bonds and relationships within the workforce as well.

  • New employees have someone to turn to when they need help and may be better able to deal with issues that arise.

  • Better educated employees will perform better than those who have not been trained or have not learned from others. It is one thing to teach someone from a book, or a video, and a whole other thing for them to be able to learn in their own time from someone who is readily available to assist them as they encounter things they need assistance with. 

  • It gives everyone multiple perspectives on things within the workplace which can increase innovation and productivity. Having more than one person working on something can push things forward.

  • Mentors can connect other employees with industry leaders and connections that can aid them in their careers as well and help guide newer employees to look to higher roles within the company. This can also assist employees and mentors who may leave a business, giving them connections they may not have otherwise had.

  • Employees asking their mentors when they have questions or run into issues can help cut costs that may arise from mistakes made by newer employees. This can also help to increase productivity as well, by reducing overall mistakes made.

  • Mentorship can encourage new hires as it can be a benefit to employees and give them someone within the business they can trust, confide in and turn to right away. It also creates a better environment where everyone works more cooperatively which can be attractive to someone looking for a new place to work.

  • Mentors also benefit from these relationships. They can gain confidence that can encourage growth within themselves and their work within the business.

  • Mentoring creates a teacher-student relationship which can improve how well they do in supervisor positions and other positions in which they have to look over other employees.

 Overall a mentoring relationship can improve all aspects of the business and can aid the employer, the mentor and the employees. It creates a better workforce that is educated properly and well connected and also improves the workplace environment itself. 

 

** Louise Procter is a writer and content developer for Wyatts Compensation Lawyers.

 

Website: www.wyattscompensationlawyers.com.au

Email:louise@theonlineco.net

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October 19, 2019

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