The benefits of mentoring are vast, in a number of ways – from the person being mentored and the person doing the mentoring to the organization they work at. Countless studies have proven the positive effects mentoring can have, from confidence to mental health to promotion likelihood. As such, mentorship is a key driver of growth in the workplace and connecting teams.
As you can imagine, there’s a lot to read about mentoring. Fortunately, we’ve done all the reading for you and compiled it all in one place. So whether you're looking to learn more about mentoring, or need some killer stats to support your mentoring program at work, look no further...
A study conducted by Gartner and Capital Analytics used statistical analysis to examine the financial impact of mentoring. They studied 1000 employees over a five-year period. The study determined that mentoring has a positive impact on both the mentors and mentees. The employees produced by the mentorship program were highly valued by the business.
84% of Fortune 500 companies have mentoring programs.
100% of Fortune 50 companies have mentorship programs.
The vast majority, 97% of individuals with a mentor say they find the experience to be a valuable one.
Only 37% of professionals have a mentor.
89% of those who have been mentored say they’ll go on to mentor others.
Mentoring for Career Development Statistics
Employees who are mentored are promoted five times more often than those who are not in any type of mentorship program.
Mentors are promoted six times more often.
Retention rates for mentees are 72 percent compared to 49 percent for employees who do not participate in a mentorship program.
One study revealed employees participating in a mentoring program were more likely to receive a raise than the employees not participating.
89% of mentees surveyed feel their colleagues value their work compared to 75% of employees without mentors.
87% of employees participating in a mentorship program feel empowered by their mentoring relationships and feel an increase in confidence.
Mentoring for Diversity
A study in the Journal of General Internal Medicine found gender doesn’t affect satisfaction levels when it comes to mentorships. However, there is some conflicting research. Research from the Women's Dermatologic Society Mentorship Survey indicates that 75 percent of women prefer a same-gender arrangement.
41 percent of employees say the mentor and mentee should be in similar diversity groups, which can include gender, ethnicity, or sexual orientation.
Read more resources on workplace diversity here:
Mentoring for Employee Retention and Engagement Statistics
Retaining employees is essential. According to a study by the Society for Human Resource Management, an employer will spend the equivalent of up to 9 months of an employer’s salary to replace them.
Research shows 85% of employees worldwide are not engaged. It’s a complex problem with various contributing factors, making it a challenge to solve. Although improving employee engagement isn’t easy, there’s hope. A study in Hong Kong concluded organizational outcomes, recognition, compensation, leadership, and career and professional development were the deciding factors for employees leaving an employer. Mentorship programs address these factors.
9 out of 10 employees with a mentor say they’re happy with their job.
94% of mentorship participants said a mentorship program demonstrated the organization’s commitment to providing career opportunities.
89% of mentoring participants said they felt mentoring allowed them to play a role in the company’s success
Final Insights on Implementing a Mentorship Platform
Mentoring programs allow businesses to capitalize on their greatest resource – the employees. Implementing a mentorship program shows support, interest, and concern for an employee's potential with the company. By investing the time and resources needed to help employees succeed, the employees are more likely to be more productive and loyal to the company.