How can Organizations benefit from robust Mentoring and Coaching programs?
Organizations implement Mentoring and Coaching programs to align the goals of the company with the professional development of its employee. For example, the mentoring program can target new employees in product development when the goal of the organization is to bring new products to the market. Developing employees in weak areas of the company can also benefit the business’s organizational goals.
Companies can benefit enormously when they deploy all or any of the following methods to mentor and coach its employees:
- Companies can assign a mentor or coach to new employees during the initial period of settling down in an organization to help them get used to the culture of the company as well as bring them up-to speed on company procedures and policies. Mentoring also provides the worker with a leader he can turn to with questions. The coach can provide the new employee with information on the corporate culture, organizational structure and procedures that will help the younger professional settle into his role in the business.
- Employee Growth and Development is achieved by providing the individual who is mentored or coached with practical knowledge that bridge the gap between educational theory and actual business practices.
- Mentoring generally helps boost employee morale and engagement, experts say. “From increased morale to increased organizational productivity and career development, the benefits of an organization that actively supports mentoring are numerous,” according to a report by U.S. Office of Personnel Management.
- Reduced employee turnover boosts productivity in an organization. High employee turnover costs organizations money in the form of recruitment hiring and training of replacements. Companies should weigh the costs of implementing a Mentoring/Coaching program against the inflated cost of employee turnover to determine the benefits of coaching and mentoring.
- Team efficiency can be developed by Coaching and mentoring. The process enables managers to identify the strengths and weaknesses of each employee. This allows the organization to capitalize on the resources at hand to keep the whole team working smoothly
Coaching and mentoring can provide an array of benefits for organizations of all sizes, especially small businesses. When conducted in an efficient and productive manner, coaching and mentoring provides employees a way to connect, learn and grow within the company and along their own career paths. Coaching and mentoring serve as learning tools in the workplace that can lead to empowering your employees. The employees who are coached and mentored often receive the greatest benefit, but the coach or mentor also benefits and may feel a sense of empowerment from the relationship. Understanding the dynamics and outcomes of this type of workplace learning strategy helps one evaluate the need for a coaching/mentoring program in their respective organization.
Sources:
Nguyen, S. (2017, August 15). The Benefits of Coaching Employees. Retrieved April 02, 2018, from https://workplacepsychology.net/2010/08/28/the-benefits-of-coaching-employees/
https://www.insala.com/Articles/5-benefits-of-coaching-for-your-organization.asp
https://instituteofcoaching.org/coaching-overview/coaching-benefits
Organizational Benefits of Coaching & Mentoring. (n.d.). Retrieved April 02, 2018, from https://smallbusiness.chron.com/organizational-benefits-coaching-mentoring-10077.html
