What You Stand to Gain From Mentorship Programs

By definition, a mentor is “an experienced and trusted advisor,” and in the construction industry, there is no shortage of people willing to share their knowledge and expertise. Anyone can be a mentor. Mentorship can take on many forms and is not always achieved through a formal process.

To some, a mentorship could mean casually meeting for coffee once a month to discuss work, life and balancing the two. For others, a mentorship could be deliberately established with certain goals in mind. How someone finds a mentor can differ as well, based on the company they work for and the position they are in. Some newcomers are naturally drawn to leaders and taken under someone’s wing, and for others, the process is more intentional.

Regardless, the mentor/mentee relationship should naturally evolve as the mentee’s career progresses and their goals change. This relationship built on trust and communication can have ripple effects throughout the participants’ lives and careers.

The Value of Participating in Mentorship

Mentorship holds significant value for both the mentor and mentee, as well as the industry as a whole. It provides a place of support, knowledge sharing, growth encouragement and networking. The mentee learns goal setting, receives professional advice and will personally grow while learning leadership skills. This partnership provides them with a safe space to ask “dumb questions” and voice their fears and hesitations, while also providing them with a peer to learn from outside of their usual working group.

Mentors gain the opportunity to share their knowledge and exercise their leadership skills while gaining a new perspective from mentoring someone. Mentorship re-engages the disengaged and propels the eager further into developing their skills and career. It’s truly a win-win for all parties involved.

What’s the ROI for Participants & Managers?

This is an investment you want to make. As of 2022, 84% of U.S. Fortune 500 companies have visible mentoring programs. Ninety-three percent of millennials believe “ongoing skills development” is essential for their future career growth. Eighty-one percent of millennials stay five years or more at a company when they have a mentor.

There is now strong evidence that talent development programs, including mentoring, are correlated with positive revenue and profit outcomes for businesses. Mentorship programs increase employee satisfaction, engagement and retention, as well as play a key role in workforce development and succession planning.

Time Investments for Mentorship Programs

As the saying goes, you get out what you put in, and mentorship is no different. Though there is no rule for how often a mentor and mentee should meet, there should be a commitment to consistency. Some may prefer a set schedule, while others prefer a less structured cadence. Treating each meeting as an opportunity to learn and share is paramount to success.