How Can Companies Benefit from Focusing on Mentoring Women?Mentoring Best Practices
Top-tier companies in competitiveindustries are adopting any and every method available to make sure that theircompany is ahead of the curve. Today, the need to gain the upper hand over yourcompetitors is more crucial than ever. As more and more options are availableto consumers, pressure increases for you to excel as a company.
One of the most beneficial among thesemethods is designing amentoring program, especially one that is focused on mentoring women. In fact,vast and well-known companies such as Wyndham Hotels and Resorts, A.T Kearney,and Texas Instruments all understand just how valuable women employees are andhave taken significant measures, including mentoring women, to ensure they arewell-represented and receive all the opportunities they require to rise intheir careers.
Why have these companies and thousands moreacross the globe provided so much of their time and resources in designing a mentoring programfor women? The answer is simple – they understand that mentoring women employees are an investmentthat will bring in huge returns. Below, we take a look at what these returnsare and how a company can benefit from them:
- Innovation increases when companies focus on mentoring women
Studies have found that when the number of women in a group increases, the collective intelligence of the group increases. This means that women bring in more innovation to your company. This means smarter decision-making, better problem-solving and overall improved innovation. Designing a mentoring program for women provides them the opportunity to become the best version of themselves, while also giving them the platform to exercise their talents and became a fully-engaged employee.
- Your bottom line will increase when you focus on mentoring women
According to thefindings of a study conducted by the Boston Consulting Group (BCG), diversityin leadership can help improve the bottom line for companies. Companies whichhave a diverse leadership team have a 19 percent higher revenue as a result ofincreased innovation. This speaks volumes on the importance of having a diverseand inclusive team in decision-making positions.
- You can create a culture of diversity and inclusion in your company
This is derivedfrom the previous point. When companies understand that diversity and inclusionare not just metrics of business, but rather, a culture that can bebusiness-changing if they embrace them wholeheartedly, they will put in moreeffort to make sure diversity and inclusion are the core of their workplaceculture and business model. One of the first steps and most effective ways toimplement diversity and inclusion is by designing a mentoring program for women.
- You can make your onboarding process much more efficient
Another greatbenefit of mentoring womenfor companies is that it makes the onboarding process when you hire a newfemale employee, much easier and more efficient. Onboarding, for any company,can be a complicated and expensive affair, which is why so many companies workso hard on retaining their existing employees. However, it is inevitable afterall, especially if you are working to diversify your talent pool. With a mentoringprogram for women, women employees will find it easier to adapt to the newworkplace, rules, values, and culture. They feel welcome and at ease becausethey have an experienced mentor assigned to them to help them navigate theirway.
- Mentoring women can help you tackle various workplace issues
Last but not least, designing a mentoring program focused on women can help address common problems in your workplace. These issues, such as difficulty for women to navigate male-dominated work environments, lack of diversity and inclusion, lack of equal opportunities and resources for men and women employees, are handled professionally by mentoring programs.