Why is mentoring important?

Why is mentoring important?

1. Benefits for the organization

   • employer branding strategy
     • campus presence
       • "recruitment tool "
       • collaboration in future projects
     • networking
       • pipeline
   • cost saving
     • training
       • on the job training
         • learning by doing
     • recruitment
       • internal hires
         • average cost of external candidate: 1.7 higher
       • 2025: 25% workforce: millenials
         • 71% of millenials: desire to work overseas
     • retention
       • 5% in retention can grow profit by 25%
       • rate: 72% mentorees and 69% for mentors
       • 25% decrease of turnover
   • rebalancing the average age

2. Benefits for the mentors

   • 6 times more often promoted
   • 77% mentors: improved performance
     • Increasing job satisfaction
   • enhancing leadership skills
     • new generation of leaders
       • succession planning
   • dispersion of workload
     • focus on strategic projects
   • reverse mentoring
     • "fresh insights"
   • productivity increased by 21%
     • latest trends in the industry
   • giving back to the community
   • highly motivated labour
     • promoting a culture of feedback
   • diversity