There are many elements that go into starting and/or running a successful business, but it's no stretch to say that a talented workforce is number one. A company cannot survive without smart, dedicated people to run it, so keeping your employees happy and engaged so they’ll stick around should be a top priority.
Retaining talent is an ongoing challenge for many organizations. In the ever-changing environment of mobility, innovation, and growth that today’s business world has become, talented employees are pulled in a hundred different directions, and they choose to leave a company for a hundred different reasons. Some common reasons for employee turnover include:
- The work is not challenging enough.
- They don’t see an opportunity for growth.
- They have no support from management.
- They're unhappy with compensation.
- There's not enough flexibility.
- They’re not valued for their contributions.
Figuring out what motivates talented employees to stay with an organization can be a difficult task, but incorporating a strong mentoring program into the workplace can significantly help with retention. Offering mentorship to employees shows right from the start that you are invested in their development. They’ll know that you not only want to see them excel within your company, but that you also want to see them succeed in their careers.
Along with guiding mentees through developing skills and knowledge to enhance their careers, a mentor can help address many of the challenges that often cause employees to leave a company. A mentor becomes a trusted confidante, someone who can brainstorm solutions and offer insight to the employee. Mentors can identify areas of dissatisfaction and help the employee determine what they need to thrive within the organization (and if not, when is the right time to leave).
Oftentimes, a mentor can act as a voice for the employee when theirs isn’t being heard. Their senior role and years of professional experience give them a level of credibility that isn’t always afforded to junior employees. This can be extremely reassuring to employees, giving them the confidence to voice their concerns, knowing they won’t fall on deaf ears.
Managers and especially executive management don’t always have the time necessary to invest in employees and ensure they are getting what they need to motivate them to stay with a company. By hiring mentors to work with their employees, management is accomplishing what they don’t have the resources to accomplish themselves. And by meeting with mentors on a regular basis to track employee progress and discuss primary concerns, they’re gaining insight into their employees that would otherwise be lost.
Some employee turnover is inevitable, and you’ll never be able to prevent it entirely, but making an effort to invest in your employees’ career development through mentorship will send the message that you value their talents and contributions and that you want them around for the long run. Instead of giving your employees a plethora of small reasons to leave, you’ll be giving them one powerful reason to stay.
If this post resonated with you, check with your organization to see whether you are part of the MentorCloud network. If not, sign up for a demo here! Our vision is to create a mentoring planet in which true equality is achieved and hard work is rewarded, but it's only possible with your participation.