The Mentoring ROI Numbers that Tell the Story
Happy National Mentoring Month! Even though this national proclamation is intended to highlight the value of mentoring children and young adults, we see extended value in celebrating the positive impact mentoring can have on people of all ages and at all points in their careers. Mentoring can be a great equalizer, giving employees access to leaders, knowledge sources, and collaboration opportunities that may otherwise elude them.
Our commitment to mentoring has been alive and well for nearly two decades. As pioneers of web-based mentoring software, we released the first commercially available web-based mentoring process in 2000 as Open Mentoring® by Triple Creek. Now known as River mentoring software, we’ve helped our clients attain success with mentoring, helping them make a difference in employee development, engagement, retention, and productivity. In fact, research we conducted with our clients highlights the enormous factor mentoring can play in the life of employees and in the success of organizations.
Mentoring and Employee Engagement
Gallup’s recent State of the Global Workplace report showed that 67% of employees are not engaged, while 18% are actively disengaged at work. That is a whopping 85% of the employee population who simply show up and put in time at their desks, but who are unfortunately indifferent about their work.
Sadly, employee engagement continues to be an issue for many companies. But on the bright side, our research with our clients shows that mentoring can have an impact on how motivated and committed employees are to their organizations, which can create a more engaged employee population. For example:
- 90% of mentees and mentors said the mentoring program helped them develop a positive relationship with another individual in the company.
- 89% said that they feel like their company values their development because they offer a mentoring program.
- 89% said mentoring allowed them to contribute to the success of their company.
These numbers point to the positive influence mentoring can have on people. As we’ve seen with our clients, mentoring can be a worthwhile development process for people at all levels of the organization, not just high-potentials or people who are already engaged at work. We encourage you to use mentoring as a tool for bringing your less engaged employees into the fold and giving them something that they can find excitement and purpose in. As Jim Harter points out in his “Dismal Employee Engagement Is a Sign of Global Mismanagement” article (Gallup Blog, December 20, 2017), the 67% of employees who are not engaged are not your worst performers, but they are indifferent to your organization. Change that with mentoring!
Mentoring and Productivity
A disengaged employee population also has a real impact on an organization’s productivity and their bottom line. Harter says that the economic consequence of disengaged employees is approximately $7 trillion in lost productivity. Yikes! So not only can disengaged employees bring down morale of the remaining staff, but they can also sabotage the company’s ability to make money. That is serious.
We found in our research with our clients that mentoring can have a positive influence on the productivity of mentees and mentors.
- 91% of mentees said they experienced competency improvement in one or more of the areas that they worked on in their mentoring relationship.
- 88% of mentors and mentees agree that their productivity or effectiveness increased due to their current mentoring experience.
There is a very real economic reason for companies to offer mentoring to their employees, as these numbers show. When the cost of investing in mentoring software is weighed against the cost of lost productivity, it is clear that every company should be investing in mentoring software.
You can read about additional ways that mentoring impacts organizations and employees in River’s ROI of Mentoring eBook. And when you’re ready, contact us to discuss how River can be the mentoring solution you need.
From all of us at River, Happy National Mentoring Month!