Mentoring can be a cost-effective way to develop staff members and is something that shouldn't be ignored, according to a report from peoplemanagement.co.uk.
The report's author, Terry Morgan, explained that mentoring can really help improve the skills and performance of managers. It doesn't cost that much - especially if existing resources are utilised to lead the scheme, like those in interim executive jobs.
Investing in mentoring should benefit the whole business, as Morgan revealed: "Improving the quality of managers and leaders has a positive impact on organisational performance and reputation, and mentoring is a great way to do this.
"It's important to keep development opportunities fresh to ensure employees feel motivated," he added, another perk of creating such schemes. It's usually the case that motivated employees are more inclined to stay in their job, so offering staff mentoring opportunities could do wonders for a company's attrition rates. Mentoring can also improve their confidence levels, businesslink.gov.uk added.
The great thing about mentoring is that schemes can be tailored to each individual worker's needs, Morgan added. They can be given support and training that's centred on the specific skills they need to fulfil their own responsibilities, which could work much better than a one-size-fits-all solution.
"On the flipside, mentoring someone else can help you recognise strengths and weaknesses within yourself and develop new skills," the report concluded.