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A New Study: Mentoring Increases Retention Rate

The demands on the rapidly changing workplace continue to increase and the need for retaining skilled staff, finding top talent and developing future leaders is becoming paramount.

New studies show that mentoring may be the solution to employee retention and satisfaction.

Intuitively, most people agree that mentoring employees is a great process. Up until now reports on mentoring have focused on the soft social and personal benefits it has on mentees (people being mentored) only.

New Study
A new 5-year study at Sun Microsystems (1) reveals that mentoring has hard quantifiable evidence for mentees, mentors and for their organizations.

According to the landmark study one thousand mentors and mentees were tracked based on salary grade, retention rate and promotion rate relative to a control group. The results were stunning!

Results

Table 1. Mentees vs. control group over a 5-year period

Table 2. Mentors vs control group over a 5-year period

The study reinforces the intuitive agreement with the benefits of mentoring, and it adds the statistical validity to the impact of mentoring on mentors, mentees and the organization.

Summary of Mentoring Benefits

Managers
With mentoring skills you will:

• Create high performance teams that stay in your department
• Become known as the “developer of people”
• Increase accountability, responsibility and delegation power
• Increase the quality of work for yourself and your employees
• Increase team unity, collaboration and support to get more done

Employees
With mentoring you will:

• Get up to 5 times more chance for promotion
• Get 20% more chance for a salary grade upgrade
• Have an enjoyable work environment
• Get the chance to connect with your team and managers
• Get the guidance you need for a successful career
  

Organizations
With mentoring programs your organization will:

• Retain more skilled staff
• Promote more leaders from within
• Attract top talent to your company
• Groom leaders for succession planning
• Improve work performance and work ethics
• Motivate employees to stay and produce
• Align individuals, teams, and departments with company values
• Become a great place in which to work

We have to acknowledge you for reading this far down this newsletter. It takes a real forward-looking leader to invest the time into looking for new ways to improve your team, work environment and company.

Moving Forward
Ovson communications has been on the cutting edge of organizational training and we’ve developed a comprehensive step-by-step model for coaching and mentoring.

In our three day Coaching and Mentoring Skills for Managers you will get a set of tools to groom and develop your employees, you will be coached and given one-one-one feedback while you do hands on practice, and you will come out of the training with a comprehensive model for coaching and mentoring that you can start immediately implementing in your organization.

Obviously, there is a lot of proven value to having a mentoring program at you company. As you are reading this you might be thinking of how you may start, or what skills you need to have, or maybe you need more information and have some questions.

We understand that setting up a successful mentoring program is not easy, and mentoring skills don’t come naturally to everyone. We have 20 years of experience, a solid track record and the staff to help you with your training needs.

As a valued newsletter subscriber you get a FREE 20 minute phone consultation to help you assess and clarify your training or consulting needs

The phone call will be confidential and focused on you and your needs only (no sales pitch of any kind).

Email us back at this email to set an appointment or call Ovson Communications at (415) 974-6322

References

1. Triple Creek Associates, Inc “Report: Mentoring’s Impact

on Mentors.” 2007, First Edition.

2. James Holincheck, “Case Study: Workforce

Analytics at Sun.” Gartner, Inc., 27 October 2006

(ID Number: G00142776).