Why A Company Should Invest In A Mentoring Program
Investing in mentoring programs
In today’s operations of a company, it requires having low costs, yet high quality solutions. Initiating mentoring programs in a company will allow capitalization of the greatest resource which is human resource. Strategically, to develop a talent will contribute to organization’s innovation, growth and bottom line. It shows management’s interests, support and concern for its worker’s potential together with the company. It demonstrates to the employees that the company is willing to invest the resources and time available to assist the employees to succeed in their careers. In return, workers will be more loyal and productive to the organization.
Business leadership must promote, embrace, and value these programs in order to realize the return on their investments. Employees with few year experiences should be matched with a career mentor to assist them in growing in their positions. This creates a more engaged workforce, high job satisfaction and also it proves that the organization cares (Gershenfeld, 2014).
Return on Investment
This is a performance measure which can be used in measuring or evaluating the investment efficiency, or in comparing the effectiveness of diverse investments. It can be used to measure the amount of return as compared to the cost of investment. ROI is the most common profitability ratio although; it is not necessarily the same as the profit. It deals with the money invested in the business and the returns realized based on the company’s net profits, while profits measures the business performance.
During the business development, intended benefits can be defined as part of calculating financial returns or Return on Investment or payback period and this is always associated with the realization schedule. However, intended benefits may be realized long after project closure. Investments should be placed in tandem with the laid strategies in order to retain the workforce long enough to meet the acceptable Return on Investment on the human resource.
Evaluating legal considerations of the program
Within the company, there exist various legal considerations which would be considered within the training program aspect. One of these legal aspects to be considered would include how to face the company’s liability. There are many of reasons to why the business could not meet the legal requirement including employee and customer discrimination, and that which may cause serious legal threats to the business resulting to court room procedures. Failure to meet legal expectations as required by the law, the business faces full responsibility for any injury or discrimination which may occur to either an employee or a customer within the business environment. Also failure to follow the laid legal requirements may subject the business to financial resource losses including promoting high turnover rates leading to low production rates and negative reputation.
Mentee first meeting check list and meeting guide
First and foremost, one should take the responsibility for setting the meeting with the mentor. Research shows that these kinds of relationships are the most successful when the mentee takes the responsibility to manage the relationship. By utilizing this checklist, it will guide both the mentor and the mentee following the mutual agreement to formalize their relationship.
___ Learn all you can about the mentor before the initial meeting
___ Review the roles and expectations from the mentoring commitment
___ Have a conversation, together with the mentoring coach or individually, to discuss the match and explore the ideas which he or she may be having
___ Set boundaries for the mentoring relationship, discuss and seek clarity
___ Discuss confidentiality and be specific on things which should remain confidential
___ Listen and ask questions
___ Explain where you are and where you would like to be, and how the whole program may assist
___ Decide what you want to achieve together while setting priorities give scope of roles and also time frame
___ Schedule the next meeting (date, time and place)
___ Write a brief summary
___ Set up frequency, length, and location of next meetings (Kelly & Christian, 2014).Order Unique Answer Now