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Mentoring programs are becoming more popular in virtually every industry and for good reasons. First, mentees are 68% more likely to stay with an employer for five years or more. Secondly, mentees are also more involved in the operations of the workplace than other employees. This may be because those who aren’t mentored aren’t made to feel like valued members of the organization. Here are a few other facts about mentorship programs to consider.

Any Business Can Do It

Many small business owners and small-scale entrepreneurs think their resources are too limited to start a mentoring program within their organization. This is a myth that’s easily debunked. It doesn’t take many resources other than willing mentors and communication tools that will keep the mentor and mentee accessible to one another. If you don’t have willing mentors, you can find online resources that will connect your new employees with mentors within your industry.

Self-Starters Still Need Help

Even the most independent person feels awkward and uncertain in a new situation, so throwing a new employee into your workplace without a guided orientation can be a mistake. It’s this type of situation that leads to employee churn. Conversely, instituting a mentoring program will help new hires get acclimated to the management structure, company culture, individual personalities, and the specific tasks expected from them.

Keep It Formal

Finally, you should be reluctant to allow your employees to informally mentor new hires because that can leave some new employees to fall through the cracks. By creating an official mentoring program that you manage, you can make sure every employee receives the same degree of mentoring. In addition to benefiting every new hire, you’ll also be protecting yourself from allegations of favoritism or discrimination. You’ll also earn a better reputation for your business by establishing an organized mentoring program, and that will help you attract better talent for future job openings within your organization.

There’s no reason to wait to start your mentoring program. As you begin talking to your employees about it, you’ll likely find that many of them are eager to get involved. This is the first step in creating a program that will boost employee morale and improve the productivity of your team.