9 Ways Mentoring Drives Success for People & Companies

    women engaging in mentoring

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    There’s a common saying:

    “Watch your thoughts, they become your words;
    Watch your words, they become your actions;
    Watch your actions, they become your habits;
    Watch your habits, they become your character;
    Watch your character, it becomes your destiny.”

    The phrase has been attributed to all kinds of people from Lao Tzu to Gandhi, but it nevertheless sticks. Positive thoughts matter. They shape your world and change your behavior, so anytime you’re able to generate some positivity, great things will manifest.

    That may seem a bit idealistic and perhaps oversimplified; after all, mentoring isn’t just positive thoughts. It’s learning opportunities and self-reflection too. However, all these things come together to provide a wealth of benefits for everyone involved.

    If you’re mentored, you’ll…

    1. Have more positive thoughts about your career.

    People who are mentored report increased feelings of career satisfaction and commitment as well as a deeper belief that career advancement is ahead.

    2. Receive more promotions.

    Women increase their chances of being placed in a mid-manager position or above by 56% when they’re mentored.

    3. Receive higher compensation.

    Mentoring does not close the gender pay gap, but it does tend to boost a woman’s salary by more than $600.

    If you’re a mentor, you’ll…

    4. Have more positive thoughts about your career.

    Many people think only the person being mentored benefits, but that’s not true at all. Mentoring is meaningful work and creates a sense of purpose, which leads to increased work-related fulfillment. They’re more satisfied with their jobs too.

    5. Have greater career success.

    The above naturally translates to improved commitment to the employer, and combined, these things also lead to greater career success for the mentor too.

    If you’re a company leader, you’ll…

    6. Increase positive feelings about your company.

    When mentorship happens in the workplace, people feel better about the organization and the organization’s senior leaders.

    7. Cultivate optimism.

    Being connected to people at higher levels gives employees a direct line of information, so they tend to feel better informed about the company’s future. They also believe that the company is providing career advancement opportunities.

    8. Reduce turnover.

    When employees feel good about their workplace, they don’t think about leaving it. Because thoughts (or lack thereof) become actions, they leave less too. Some studies suggest mentorship can decrease turnover by nearly 40%.

    9. Bolster your D&I Program.

    Informal mentorships will likely spring up throughout the company regardless, which is good news for those who engage in them. It’s not good news for minorities. People naturally gravitate to those who are similar to them, which means in a male-dominated industry like energy, men are far more likely to mentor other men. The disparities grow when other aspects, such as race, orientation, and religion are layered in. A formal program reduces gender issues and ensures minorities have access to mentors too.

    Get Involved with Mentoring

    If you’re a company leader, you can create your own mentorship program or sign up to be a corporate member of Pink Petro, which secures a seat on the Global Community Council to explore best practices and connect with peers. It also means your entire team qualifies for individual membership.

    Individual members, either signing up alone or with their team, get instant access to a multitude of benefits, such as learning and networking opportunities. There’s also Lean In Energy, a formal program that’s actively enrolling for its 2020 session (join by February 10). There are lots of other ways to find a mentor too. No matter which method you choose, make mentoring a priority.

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    Feature image credit: Photo by mentatdgt from Pexels.