Mentoring programs can significantly impact organizations’ business goals, professional development, and leadership development. Research finds that the top benefits to organizations with formal mentoring programs include higher employee engagement and retention, support for the growth of high-potential employees, the creation of intra-organizational relationships and collaboration, and knowledge management and transfer. What’s more, 75% of executives say mentoring has been critical to their career development.
A survey by ATD Research found that the top three benefits mentees received from participating in mentoring programs are professional development, a better understanding of organizational culture, and the development of new perspectives. The top three benefits mentors received from participating in mentoring programs are the development of new perspectives, the development of leadership skills, and insight into the organization. Another study found that people who served as mentors experienced lower levels of anxiety and described their job as more meaningful than those who did not mentor.