Mentorship programs are becoming commonplace in today’s business world. It makes sense, too. Why wouldn’t a business owner want staff to learn from peers how to improve their skills and avoid the pitfalls of learning on their own? It is valuable to gain insight from someone or programs that help guide you to success and mentorship programs are set up to do just that.
Mentorship Programs – Your Road To Business Success
It is important to understand how mentorship programs can lead your small business onto the path to success. They don’t happen overnight and do not work like a magic pill. However, with time and effort, you will see many positive changes within your business over time. Here is a closer look at some advantages of using mentorship programs.
They Increase Employee Engagement
Statistics reveal that high employee engagement is linked to profitability. If your employees are engaged, you stand a better chance of earning a higher profit than a competitor with low employee engagement. A mentorship program offered to employees that focuses on learning and development will be attractive to many of them. This gets them engaged and increases their skillset making them more valuable.
They Reduce Absenteeism
One of the most interesting changes mentorship programs promote in employees is a sense of belonging in the workplace. This comes from how they view themselves when the people they work for invest in their professional development. Employees feel valued and tend to become loyal to their jobs and enjoy the position they hold in the workplace. This translates to fewer days off and more productivity overall.
They Increase Performance Management
When your business becomes filled with employees who possess versatile skills, it permits you to maximize them to increase performance. However, there is more to management promoting knowledge sharing to improve employee skills. There has to be effective use of those newly skilled employees. The best way to learn what is or isn’t working is by seeking feedback and moving people to where they work the best.
They Promote Knowledge Sharing
Mentoring programs help employees learn more and gain practical knowledge from peers. Because the knowledge sharing takes place on the job site, learning outcomes are often better. It is also easier to learn more skills while working on a project than to be taught the skills in a classroom setting. Plus, with workplace learning, the success rate of reskilling and upskilling is much higher than in a classroom setting.
They Make You A Better Boss
One of the extra bonuses to introducing mentorship programs to your business is how it can change the view some employees may have of you. When you show you care about their future by offering them ways to better themselves in the workplace, they begin to see that they are more than just staff to you. If you genuinely want them to be better employees by adding to their skills, you will see changes making you a better boss.
Turn To ACBC, The Best Business Coach In North Brisbane, For Mentorship Program Guidance
Action Coach Business Coaching is your small business coach in Brisbane. Call them today to discuss how business coaching and mentorship programs can help your business grow. Ask about the Action Coach Business Coaching programs Action Club, Growth Club, and 1-on-1 Coaching. Help your business grow with help from the best business coach in North Brisbane – ACBC.
Conclusion
In today’s competitive business world, any time you can get an edge over a competitor, the better your chances of success. One way to build a stronger business is through mentorship programs. Essentially, a mentorship program partners newer employees with those who have been on the job longer. They share knowledge and help educate employees so that they learn new skills or improve existing skills. This method of cross-training increases the skillset of employees making them more valuable in the workplace.
Mentorship programs also offer those receiving the skills training a new way to view themselves. Employees who go through mentorship programs develop self-esteem and value themselves as an important part of the bigger picture of the business they work for. Plus, these newly-skilled employees feel a greater sense of belonging as the company has invested in their additional training. When this happens, productivity increases with more skilled workers and less time off to get away from the workplace.
There are several different types of mentorship programs available to employers. If you are working with Action Coach Business Coaching – your small business coach in Brisbane – you have access to their Action Club, Growth Club, and 1-on-1 Coaching programs. Contact them today to learn more about how mentorship programs can help your business attract and retain staff, and grow to be a successful enterprise.