Publish date:

• 14th August, 2021

"I think the greatest thing we give each other is encouragement...knowing that I'm talking to someone in this mentoring relationship who's interested in the big idea here is very, very important to me. I think if it were just about helping me get to the next step, it would be a heck of a lot less interesting." —  Quote by Anne Sweeney

Mentorship and sponsorship are critical to employee retention and satisfaction … on the retention side, mentorship supports employee development and progression. Mentorship helps individuals connect their deeper human motivations and values to their careers and aligning these two will pay dividends to employers and employees alike. - Excerpt from Harvard Business Review. 

If as an owner / leader of a firm (of any nature, size or domain) you are concerned about retaining talent and the attrition levels, then this blog is for you. Apart from the many tried and tested techniques such as upskilling programs, flexible work hours, better HR policies and good monetary compensation, we are going to discuss the novel idea of mentorship here. The idea of mentorship as a means to retain human talent is new to India, whereas it is quite embedded in corporate culture in the western countries.

The question companies need to ask themselves is that does staff engagement help to lower attrition? In this era of work from home or even hybrid models of work (part WFH and part office), how can companies and management help their employees? Is the answer connecting lower rungs of the staff with senior staffers to get guidance, support and training to be better at their work and in life? When people in entry or lower rungs of the ladder are mentored, recognized and respected, they are more likely to feel engaged and not quit. This is particularly the case for women, minorities, differently-abled and the LGBT community. Based on past experiences mentorship programs improved the representation of these marginalized groups at the management level by over 10%.

Codleo Consulting is a firm believer in mentorship and ensures the same for the numbers of interns/trainees that come on board for picking up the ropes of corporate culture. Though it is yet to be enshrined in writing in its corporate communication, it is a part of the company ethos. Right from the managing director to the managers, all are a part in the mentoring of young minds.

Mentoring, which professionals say is supplementing other types of development like seminars, training programs, and so is an important way to retain talent. All companies must realize that investment and prioritization of nurturing talent is the only way to have them onboard. Do you have a mentoring mindset and program? Tell us about the same. We are all ears.