How to Mentor

Mentoring can help boost your company’s bottom line. Here’s how to do it well.

By Misti Burmeister

Mentoring has become critical both to young professionals seeking to understand the business world and seasoned professionals eager to learn new, innovative technology. You might consider mentoring if you know what you have to offer and are eager to share what you know with someone else.

Consider these facts:

60+ percent of college and graduate students listed mentoring as a criterion for selecting an employer after graduation. (Source: MMHA).

76 percent of the Top 25 companies offer mentoring programs. (Source: Fortune).

96 percent of executives say mentoring is an important development tool. (Source: AccountTemps).

77 percent of companies report that mentoring programs are effective in increasing retention. (Source: The Center for Creative Leadership).

35 percent of employees who do not receive regular mentoring look for another job within 12 months. (Source: Emerging Workforce study by Spherion).

62 percent of employees who have received mentoring say they are very likely to stay with their current employer. (Source: Yellowbrick).

75 percent of executives point to mentoring as playing a key role in their careers. (Source: ASTD).

For those of you who have decided that mentoring is for you, here are three tips to increase your chances of huge success as a mentor: 

1. Know what you have to offer. Before deciding to become a mentor, take 30 minutes to write down all the skills and experiences you have to offer. At the end of the 30 minutes, circle those that you want to share. This will offer a fantastic foundation for the mentoring relationship. I also encourage you to create a list of skills you would like to gain. You never know; this could be a great reverse-mentoring relationship where you can learn from each other.

2. Learn what your protégé hopes to gain. Whether you are participating in a mentoring program within an organization or you are looking to mentor outside the context of a formal mentoring program, it’s essential to learn about what your protégé hopes to gain from you as his or her mentor. What kind of skills and experiences does she hope to gain? Perhaps she wants to gain your perspective on experiences as she goes along. Either way, it’s important to be clear about what she wants to learn.

3. Set clear expectations. The vast majority of mentoring relationships fail miserably because expectations were not clear. It’s important that both the mentor and protégé are clear about what they are hoping to gain from the relationship. Sometimes protégés are hoping for certain connections or possibly even a promotion as a result of the mentoring relationship. I highly discourage professionals from entering mentoring relationships for this reason. Instead, focus on the skills and experiences each would like to gain from the relationship. As a mentor, know what you have and want to offer, communicate it clearly and take the time to learn what your protégé is hoping to gain.

Bonus Tip: Get an outsider’s point of view. Mentoring relationships can sometimes present challenges. It’s hugely valuable to have someone to bounce ideas off when things are not going as planned. You can seek this kind of support in an executive coach. You also can ask someone you highly respect to provide an unbiased point of view. It’s important that your “outsider” be committed to the success of the mentoring relationship – not simply committed to making you right!

For every two baby boomers leaving the workforce, only one young professional will fill their spot, according to U.S. Census Bureau data. The vast majority of today’s young professionals are in serious need of strong mentors – those willing to help them see how to successfully navigate their careers. They need the guidance and are eager to gain your support. Since the majority of them have never received feedback and many of them have never been allowed to experience failure, they need someone who is willing and able to help them grow. 

Their growth is a huge advantage to any company or leader. The more time and energy you put into your people, the more they will give you. 

Misti Burmeister, M.A., CEO of Inspirion Inc. and author of the bestselling book, From Boomers to Bloggers: Success Strategies Across Generations, advises Top 500 companies, speaks and coaches on generational diversity in the workplace.