Mentors: The Secret Tool To Accelerate Your Career Success
Early in a new year many of us sit down and take stock of the year in review and set goals and affirmations for the year to come. Mentoring is one tool in the repertoire that could accelerate those professional career aspirations and personal goals.
What is a mentor?
History buffs will tell you that the word mentor first appeared after Homer set off on his Odyssey leaving behind his son Telemachus with a trusted individual named Mentor to act as guardian and guide in his absence. In the corporate world, modern employees benefit from this type of 1:1 relationship between a mature stakeholder in the organisation and the more junior up-and-comers on a multitude of levels.
Benefits of a mentor
Mentors gain new insights and fresh perspectives from their mentee or proteges and revisit and reflect on their career path and depth of knowledge. In sharing and teaching younger colleagues they sharpen their knowledge and skills and as a result solidify their industry expertise. Whereas the mentees can attempt to download IP and SME (subject matter expertise) in their field while gaining professional guidance and career advice from a person they would view as an older and wiser self.
Organisations benefit from internal mentorship programs as they can increase employee engagement and satisfaction and as a result overall productivity. Such programs can act as a retention tool for both parties as each side benefits from the knowledge exchange and increase their social networks throughout the process.
Sn Microsystems a tech company based in Santa Clara California released the results of a study which included: Mentors were promoted six times more often than those not in the program; mentees were promoted five times more often than those not in the program; and retention rates were much higher for mentees (72%) and mentors (69%) than for employees who did not participate in the mentoring program (49%)1.
Type of mentors
Bill Gates had Warren Buffett and Harry Potter had Dumbledore. Mentors have long offered personalised support and a wealth of knowledge and experience that act as fuel for motivation. Most of us we have a long list of mentors throughout or lifetime. Career mentors, life mentors, peer mentors, reverse mentors. All of which have acted like a trusted Board of Advisors offering career or life advice, supporting us as peers and friends who can offer insightful ideas and act as a sounding board or helping us gain insight reciprocally as we mentor someone else.
How to get a mentor
Mentoring has proved so beneficial that 71% of Fortune 500 companies offer mentoring programs with several available within financial services in Australia1. FINSIA’s mentoring program has helped over 700 aspiring professionals connect with senior finance leaders to share insights and build networks. CFA Societies Australia also offer a six-month mentoring program with structured learning, development and networking opportunities.
A trusted mentor can put the wind in your sails and might just be the secret tool to help you smash your goals for the year and accelerate your professional career aspirations and personal goals.
Kaizen Recruitment specialises financial services recruitment across funds management, wealth management, superannuation, investment consulting and insurance. For assistance or further information please contact Amanda Chisholm on 0481 706 575 or Stacey Fernandes 0430 822 112.
References:
1. https://knowledge.wharton.upenn.edu/article/workplace-loyalties-change-but-the-value-of-mentoring-doesnt/
Kaizen Recruitment specialises financial services recruitment across funds management, wealth management, superannuation, investment consulting and insurance. We are based in Melbourne and Sydney. For assistance or further information please telephone our office at +61 3 9095 7157 or submit an online form.
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