How Can Companies Benefit From Focusing On Mentoring Women? Learn Here.Mentoring Best Practices
Top-tier companies in competitive industries are adopting any and every method available to ensure that their company is ahead of the curve. Today, the need to gain the upper hand over your competitors is more crucial than ever. As more and more options are available to consumers, pressure increases to excel as a company.
One of the most effective approaches to creating a mentorship program is to focus on mentoring women. Companies like Wyndham Hotels and Resorts, A.T. Kearney, and Texas Instruments recognize the value of women employees. They have made significant steps, such as mentoring women, to ensure they are well-represented and have all the opportunities they need to advance in their careers.
Why have these companies and thousands more globally provided so much of their time and resources in designing a mentoring program for women? The answer is simple – they understand that mentoring women employees are an investment that will bring in huge returns.
Below, we take a look at what these returns are 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 group's collective intelligence increases. It means that women bring more innovation to your company. It means more intelligent decision-making, better problem-solving, and overall improved innovation. Designing a mentoring program for women allows them to become the best version of themselves while also giving them the platform to exercise their talents and become fully engaged employees.
- Your bottom line will increase when you focus on mentoring women
According to the findings of a study conducted by the Boston Consulting Group (BCG), diversity in leadership can help improve the bottom line for companies. Companies that have a diverse leadership team have a 19 percent higher revenue due to increased innovation. It talks about the volume on the importance of having a diverse and inclusive group in decision-making positions.
- You can create a culture of diversity and inclusion in your company
It is derived from the previous point. Companies need to emphasize more to ensure diversity and inclusion are at the center of their workplace culture and business model. They need to recognize that diversity and inclusion are not merely business KPIs but a culture that can be business-changing if they ultimately embrace them. One of the first steps and most effective ways to implement diversity and inclusion is designing a mentoring program for women.
- You can make your onboarding process much more efficient
Another great benefit of mentoring women for companies is that it makes the onboarding process much easier and more efficient when hiring a new female employee. Onboarding, for any company, can be a complicated and expensive affair, which is why so many companies work so hard on retaining their existing employees. However, it is inevitable, after all, especially if you are working to diversify your talent pool. With a mentoring program for women, women employees will find it easier to adapt to the new workplace, rules, values, and culture. They feel welcome and at ease because they have an experienced mentor assigned to help them navigate their way.
- 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.
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