MyKindaFuture, the leading HR tech company specialising in engaging and onboarding underrepresented talent, has released a new report revealing the behavioural science behind impactful workplace mentoring.
The report follows research that found just 37 percent of professionals in the UK currently have a mentor, despite 79 percent of Millennials viewing them as crucial to their success. This demonstrates a clear disconnect between the appetite for mentorships and the opportunities currently provided by businesses. The report addresses this disparity by offering business leaders a detailed insight into the scientific benefits of mentoring, as well as offering practical advice on implementing an effective scheme and analysing the benefits.
Developed in partnership with behavioural science company, CogCo and leadership consultant, Rita Symons, the report also explores the impact of mentoring in building a sense of belonging amongst staff. This purpose is vital, given that MyKindaFuture’s research demonstrates that less than a third of UK employees feel like they completely belong at their company. This is having a huge impact on retention, and therefore a business’s bottom line. In fact, 80 percent of those who don’t feel as though they belong are considering leaving their role in the next 12 months, demonstrating the catastrophic impact that a lack of belonging can have on a workforce.
Purposeful mentoring offers a solution to this challenge and is an incredibly effective tool for fostering human connection. What’s more, mentoring is proven to be successful in directly supporting employees’ development and progression within a company, with individuals with mentors found to be promoted five times more often than those without, on average.
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The report also explores the additional benefits of mentoring as an effective tool to address the belonging challenge faced by many companies. These include improving employee engagement and productivity and addressing the I&D agenda by creating an inclusive and supported workplace culture in which employees of all backgrounds are given equal opportunities to succeed.
Will Akerman, Founder and Managing Director at MyKindaFuture, comments: “Although many mentoring programmes exist, the majority remain ineffective, undervalued and underrepresented. When implemented properly and with purpose, mentoring is a crucial tool in boosting employee engagement, progression, and retention. As a result, it can directly benefit a business’ bottom line.
“Employers cannot continue to view mentoring as a simple tick-box exercise. This report is a key resource for business leaders to discover more about the huge benefits mentoring with purpose can offer and gain practical insights for implementing programmes that are scientifically proven to succeed.”
To download your free copy of the Science of Mentoring Report, visit https://www.mykindafuture.com/2021/09/30/the-science-behind-effective-mentoring-report/
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.
