Newsletter, The Value of Mentoring

Mentoring Statistics in 2022: Everything You Need to Know

Updated for 2022: Having a mentoring relationship is often noted as being one of the most beneficial things you can do for your career and personal development. Whether you want a mentor to progress in your career or are someone who struggles with soft skills, a mentor is there to help you develop on your journey. A vast number of studies have shown that some incredible benefits come with being a mentor or being mentored, from an enhanced network and the higher possibilities of being promoted within your organization. We’re now seeing the number of people looking for a mentor rapidly increase with the number of businesses now implementing mentoring programs to improve the learning, development, and skills of their employees. With the demand for mentoring rapidly increasing and a large amount of research available, we’ve compiled the latest mentoring statistics list, some of which you probably didn’t know about… READ MORE

76% Of People Think Mentors Are Important, But Only 37% Have One

Many successful people attribute part of their professional success to having a mentor. Mentors provide a wealth of knowledge and experience to us, they guide us through challenges and increase our likelihood of success, they lift us up and take our success personally. They are invaluable.

So why do only 37% of professionals have one?

Olivet Nazarene University wondered why too. They recently surveyed 3,000 people about professional mentor-mentee relationships to see what they look like in 2019.

Here’s what they found:

  1. 76% of people think mentors are important, however, only 37% of people currently have one.
  2. Most people opt for same-sex mentors (69% women, 82% men)
  3. People with mentors are happier at their current jobs than those without.
  4. Only 14% of mentor relationships started by asking someone to be their mentor. 61% of those relationships developed naturally…  READ MORE

Data Shows Mentors are Vital to Small Business Success

A survey of more than 200 small businesses sheds light on the importance of mentorship among entrepreneurs.

Kabbage, Inc., a global financial services, technology and data platform serving small businesses, surveyed more than 200 small businesses throughout the US to understand the importance of mentorship to small business owners. The findings show:

Only 22 percent of small businesses had mentors when they started business. Another 17 percent indicated they have an advisor, which suggests a paid relationship for consulting and advice. This leaves a wide percentage of business owners, 63 percent, not pursuing professional guidance at the onset of their business.

92 percent of small businesses agree mentors have a direct impact on the growth and the survival of their business. A separate Kabbage report revealed that 84 percent of small businesses reach profitability in the first four years of their business, with 68 percent attaining profitability in the first year. The early years of any business is a crucial make-or-break period and most small businesses agree mentors are vital to success. READ MORE

10 Top Ways to Recruit Mentors Within Your Business

Recruiting mentors is one of the biggest challenges organizations face when starting a mentoring program, so here are our top 10 ideas to help you out.

How effective your mentoring program is entirely dependent on the participants you recruit. Mentoring within an organization is becoming increasingly significant with 67% of businesses reporting an increase in productivity and 55% stating an increase in profits due to mentoring programs. Starting a program within your company is the start of truly exciting times ahead and a chance for real transformation.

Over the years, mentoring has proven extremely beneficial to organizations with the benefits outweighing any costs involved. However, one of the most frequent challenges faced is actually how to recruit effective mentors within your organization. You should be considering these ideas when it comes to recruiting and retaining your mentors… READ MORE

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