Employee churn and burnout are significant problems for companies, as they lead to increased costs in terms of lost productivity, recruitment expenses, and training costs for new hires. To mitigate this problem, companies need to focus on employee growth and development, which is closely tied to employee happiness.
According to a recent Forbes report, nearly 80% of employees who reported they had significant personal growth also reported they were happy in their current role. Conversely, as self-reported employee growth declined, so did happiness. It’s clear that providing opportunities for growth and development is a critical factor in employee satisfaction and retention.
Professional mentorship is an excellent tool for promoting employee growth and development. Here are some of the benefits of providing access to professional mentors:
Attraction and Retention
Employee retention is an essential aspect of building a successful company. High employee turnover can be a costly issue for businesses, as it results in the loss of valuable experience, knowledge, and skills, and increases the need for costly recruitment and training processes. Additionally, high employee turnover can have a negative impact on team morale and productivity, as remaining employees may feel unsupported and undervalued.
Access to expert mentors can prevent competence burnout and help employees avoid seeking new challenges and support elsewhere. Employees who feel supported and challenged in their current role are more likely to stay with the company and contribute to its long-term success.
By having a mentor who can provide guidance and support, employees are less likely to experience competence burnout, where they feel they have reached their maximum potential and are no longer challenged in their current role. Access to mentors can help employees stay motivated and engaged by providing opportunities for learning, growth, and development. This can increase job satisfaction and improve employee retention rates.
Access to expert mentors can also attract top talent to the company. Potential employees may be attracted to companies that provide opportunities for professional development and growth, and the presence of expert mentors can indicate that such opportunities exist within the organization.
By investing in employee development, companies can create a loyal and motivated workforce, resulting in increased productivity, better team morale, and a better bottom line.
Leaders Instead of Managers
Modern workforces follow leaders, not managers. Access to professional mentors can help build a leadership network and support the development of new leaders within the organization. This is particularly important for Generation Y and Z workers, who are critical consumers when it comes to their managing leaders.
Modern workforces follow leaders, not managers
Leadership is about inspiring and motivating people, whereas management is about controlling and directing people. Good leaders are able to connect with their employees on a personal level, which allows them to better understand their needs and motivations. By doing so, they can create a more positive and productive work environment.
Access to professional mentors can help guide an employee in developing the skills and qualities necessary to become a great leader. This can include providing feedback, advice, and encouragement, as well as sharing their own experiences and insights.
This is particularly important for Generation Y and Z workers, who are critical consumers when it comes to their managing leaders. These workers are often more tech-savvy and have a different set of expectations when it comes to their work environment. They want to work for companies that align with their values and have a strong sense of purpose.
Experts Remain Experts
Solo experts within an organization often bear the weight of the organization’s entire area of expertise, which can put them at risk of burning out. With access to a network of fellow experts, they can avoid this fate and instead collaborate and problem-solve together. By working together, they can share ideas and learn from each other, ensuring that they stay at the forefront of their field.
Professional sparring, or the exchange of ideas and knowledge between experts, is one of the fastest ways to grow talent. This provides employees with an opportunity to learn about new trends and technology, as well as best practices for promoting their work within the organization. By having access to a mentor network, experts within an organization can share insights and strategies to help them achieve their goals and advance their careers.
Furthermore, having a community of experts within reach can help ensure that the organization has a deep bench of talent to draw from. This can be particularly important during times of change or uncertainty, as having multiple experts who can work together can help an organization navigate challenges more effectively. By investing in a mentor network for experts, organizations can ensure that they remain competitive and that their employees have the support they need to succeed.
Get help from a mentor
Professional mentorship is a critical tool for promoting employee growth and development. By providing access to expert mentors, companies can attract and retain talent, develop new leaders, and ensure that their experts remain at the top of their field. Investing in employee growth and development is a key factor in promoting employee happiness and long-term company success.
Book a mentor today
If you’re interested in equipping your product teams with access to world-class product mentors through Learning Loop, getting started is easy.
- Create an account. Go create an account and tell us more about yourself and your goals.
- Book sessions. Browse mentors and find one that you like, or book an onboarding call so we can find the right mentor for your needs. When you’re ready, you can book a session through the platform. Sessions are conducted remotely, making it easy to connect with mentors from anywhere in the world.
- Discover The Top 5 Reasons Workers Want To Quit Their Jobs by Bryan Robinson, Ph.D