Mentoring research summary. From learning new skills to increasing the chances of promotion, mentoring is valuable for both mentees and mentors. Many of the top companies utilize mentoring programs to enhance employee outcomes. We’ve gathered all the latest mentoring statistics, and according to our extensive research:
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97% of professionals with a mentor believe that the partnership is valuable.
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Only 37% of professionals have a mentor.
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84% of Fortune 500 companies have mentorship programs.
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Employees being mentored have a retention rate of 72%, compared to only 49% for those without a mentor.
For further analysis, we broke down the data in the following ways: Employee Benefits | Employer Benefits | Demographics
Employee opinions on mentors
Mentors serve the role of educating and advancing employees, which has obvious benefits. However, you might be wondering how employees feel about the partnership. To find out more about how employees view mentorship programs, here are some key insights:
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91% of employees with a mentor are happy with their job.
That’s considerably more than the average 65% of Americans who are happy with their jobs.
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71% of employees with a mentor say their company provides good opportunities to advance their careers.
Conversely, less than half (47%) of employees without a mentor say the same. This highlights the advancement opportunities that a mentorship program provides.
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87% of people with mentoring relations feel empowered and have greater confidence.
This also applies to employee confidence around coworkers, as 89% of those with a mentor believe their colleagues value their work, compared to 75% of those without a mentor.
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94% of professionals claim having a mentor is key to them staying with the organization.
Between increased confidence and opportunities for advancement, nearly all professionals agree that having a mentor will prevent them from leaving their jobs. This is partially why retention rates for companies with mentorship programs are higher.
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76% of people think mentors are important.
The majority of employees and employers think mentors are important. Despite this, the majority of companies still lack mentorship programs.
Employee benefits of mentorship programs
Many benefits come with mentorship programs, especially for employees. Here are some of the top benefits outlined:
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25% of employees enrolled in mentoring programs have had a salary grade change.
That’s a 4x greater chance than the 5% of employees who experience a salary grade change without a mentor. Plus, those with mentors are 5x more likely to be promoted.
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Mentors are 6x more likely to be promoted.
Mentors themselves also benefit greatly from mentorship programs, being the most likely to receive a promotion and salary increase.
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89% of people who are mentored go on to mentor others.
Mentorship programs provide a cycle of benefits for everyone involved, as mentees are highly likely to become mentors. There, they’ll earn a higher income and pass the benefits on to the next set of mentees.
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Employees with sponsors make 11.6% more than those without.
Mentors can serve as fantastic sponsors for employees, allowing them to be more competitive on the job market and earn a higher income.
Employer benefits of mentorship programs
Employers also receive many benefits from mentorship programs, from reduced retention rates to increased productivity. Here are some examples of how employers benefit from mentoring:
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67% of businesses saw a productivity increase from mentorship programs.
The average increase in productivity from mentoring programs is 20% compared to companies without mentoring programs.
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Employers with mentorship programs have 50% higher retention rates.
Employees are far more likely to stick around when they’re part of a mentorship program, and given that low retention rates cost US businesses $1.8 trillion every year, that’s a big deal.
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55% of employees believe mentoring has a positive impact on their profits.
Companies with mentorship programs see profits that are 18% higher on average. That could mean the difference between making $500,000 per year or nearly $600,000.
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Fortune 500 companies with mentors have profits 3x higher than those that don’t have mentors.
There’s a reason why the majority of Fortune 500 companies choose to use mentors, as mentors are shown to drastically increase profits.
Mentoring demographics
While mentoring is highly beneficial, there are still some demographic disparities you should be aware of. To find out more about mentoring demographics in the US, here are some key insights our research uncovered:
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Women are 12.5% more likely to have a mentor.
54% of women have had a mentor, compared to 48% of men. This trend also holds for mentors themselves, where 59% of mentors are women and 41% are men.
Mentors and mentees by gender
Status Women Men Has had a mentor 54% 48% Is a mentor 59% 41% -
79% of millennials say mentorship is crucial to career success.
Despite this, 63% of millennials also say their leadership skills lack development. There’s a clear disparity between millennial desire to be mentored and company investment in programs.
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24% of people 46-64 would only return to the office for in-person mentorship.
Mentorship is a great way to attract experienced employees to the workplace, as many would only return to the office for the advancement opportunities that come with mentorship.
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56.9% of mentors are White.
The vast majority of mentors are White, followed by 16.4% being Latino, 10.7% being Black, and 9.6% being Asian.
Share of mentors by race
Race Share of mentors White 56.9% Latino 16.4% Black 10.7% Asian 9.6% Other 6.4%
Mentoring FAQ
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What is mentoring?
Mentoring is where someone with more experience (a mentor) guides the growth and learning of a less experienced employee (mentee). In the workplace, Mentors are typically older and more experienced employees, while mentees might be younger, new employees.
The goal of mentoring is to provide the education that allows new and less experienced employees to increase their performance.
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Why is mentorship important?
Mentorship is important for many reasons, from increasing productivity and profit for employers to salary raises for employees. For employees, mentors provide support, encouragement, feedback, advice, and an understanding of your field and goals.
With this support, employees can increase their productivity and pursue promotions, which they’ll be more likely to achieve.
For employers, mentorship is also essential for several reasons. Mentorship serves as a positive cycle that reduces turnover and provides more experienced employees over time. Plus, former mentors are highly likely to become mentors themselves in the future.
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What are the 3 C’s of effective mentoring?
The 3 Cs of effective mentoring are communication, clarity, and commitment. Here are the 3 C’s outlined:
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Communication. Communication is a crucial aspect of mentoring, as mentors must be able to provide constructive feedback and advice, while also listening to and encouraging their mentee.
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Clarity. Clarity is an important aspect of mentorship programs, as mentors and mentees need direction. Good programs will have a clear focus, intent, goals, and expectations.
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Commitment. Commitment by both the mentor and mentee is crucial for a program’s success. With commitment, both parties can overcome even the most difficult learning challenges.
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How successful is mentoring?
Mentoring is very successful by many metrics. Here are some examples of this success:
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Increases retention by up to 50%
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An average of 18% higher profits
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An average of 20% higher productivity
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87% of mentored employees are empowered and have greater confidence
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Mentored employees are 4x more likely to have a positive salary grade change
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Mentored employees are 5x more likely to be promoted
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How do you measure the effectiveness of mentoring?
You can measure the effectiveness of mentoring by evaluating profits, productivity, and retention after implementing a program. To calculate the effectiveness of the mentorship program itself, we recommend:
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Number of sign-ups and active mentorships
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Number of consistent and regular sessions
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Total hours spent mentoring
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Share of mentees taking notes and making progress
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What makes mentorships fail?
The number 1 reason why mentorships fail is due to a lack of competence. Poorly outlined programs and inexperienced mentors lack the direction to meet goals, ultimately preventing mentees from learning successfully.
Conclusion
Mentorships are a fantastic tool that benefits both employees and employers, which is why 84% of Fortune 500 companies have mentorship programs. Despite this, only 37% of all employers utilize mentoring.
If you’re an employer looking to implement a new program, know you’ll receive many benefits. From an average 20% increase in productivity to 18% higher profits, mentorships are extremely effective programs.
If you’re an employee looking to advance your career, mentorship programs are a fantastic way to do so. With a mentorship program, you’re 4x more likely to receive a salary grade increase and 5x more likely to receive a promotion.
References
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Forbes – 76% Of People Think Mentors Are Important, But Only 37% Have One
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UMG – Exploring the mutual benefits of mentoring in the workplace
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CNBC – Nine in 10 workers who have a career mentor say they are happy in their jobs
Author
Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.
