Retaining the cream of the cropWorkplace Productivity
The key to success for an organization is to obtain resources that are equipped with the right skill sets. A startup also needs to ensure that it does not spend too much time training its employees and therefore, needs to hire talented resources that can provide a solid foundation for the company to soar high. Every kind of organization, especially startups, must look into hiring a mentor. A mentor not only helps in soothing friction between employees, but also assists in knowledge transfer and mitigates the unfortunate occurrence of talented resources leaving an organization.
The role that a mentor plays in an organization can be immensely beneficial and resourceful. A mentor’s role must never be underestimated or sidetracked. However, employee turnover is an inevitable occurrence in every organization. Employees may leave an organization for several reasons. Organizations have to deal with two main issues - voluntary turnover and involuntary turnover.
Involuntary turnover is initiated by the employer such as organizational restructuring and termination of employees. Voluntary turnover depends completely on employees and includes the following:
· Employees quitting the organization to pursue higher studies
· Employees feeling discontent with the pay package; and
· Employees leaving the city because of their spouse’s transfer
Whether it is involuntary or voluntary, replacement costs are generally high for a company. But if a mentor is present amidst all this, voluntary turnover can be mitigated by several notches and the company can retain its core employees. There are instances where an employee may be a good performer but feels dissatisfied with the monotony of the work, and might be desperate to leave the organization. He/she might also feel discouraged with the constant office politics and tyranny of the boss, despite performing well.
Here, a mentor can guide the employees to maintain a diplomatic front and advise him/her not to take decisions when the tide is high. A mentor can be the ‘solution bridge’ between the senior management and junior employees; and work on building a good relation between them.
If a high-performing employee desires to quit the organization, a mentor can be of immense help by understanding the reasons while maintaining confidentiality. A mentor must empathize with the mentee and should put in extra efforts to retain his/her mentees in the organization for the long run.MentorCloud is your go-to solution if you are deciphering innovative ways to retain your company’s core employees through mentoring.