Retention
Retention of high potential staff was the primary objective of the first mentoring program we established in 1996 and is still one of the most important drivers for organisations. Attracting and recruiting new people is expensive and our clients have continually expressed the positive impact of mentoring on retention. A mentoring program assists in identifying key people, they feel valued and recognised within the organisation when offered a mentor; and it can be a key component in succession planning. Providing people with a confidential outside adviser to offer support and career advice in a way that sometimes management cannot pays real dividends.
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The return on investment is astronomical. The cost is peanuts. Recruitment is more expensive than mentoring. Of the 30 senior managers mentored since 1996, only one had left the company by 2001.
Our business has gone through a major transformation and growth in the past two years. The list of challenges has been very long
and it has been very valuable to be able to talk them through with an independent party.
A mentoring relationship is one where a wiser and more experienced person assists another person to grow and learn.