The best companies have an effective mentor program. Providing a mentor for new hires gives you an edge over the competition for many reasons.
Why Should You Provide A Mentor Program?
1) Show Dedication to Employees
Providing a mentor program demonstrates dedication to your employees. The mentor passes on the skills and experience they built up over the years. The mentee receives career development in any capacity needed. Examples include receiving feedback on job performance, getting help with a difficult project or gaining insight into career advancement.
2) Serve as a Recruitment Tool
You can use your mentor program as a recruitment tool. The most talented accountants want to work for a company that will pair them with a seasoned professional willing to provide career development advice and training. Managers can regularly check in with mentors and report to executives how likely the mentee is to succeed in the company. For example, the mentor can relay information about whether the mentee continually works on learning and improving their performance and takes an interest in the company and its clients.
3) Cultivate Positive Relationships
Providing a mentor program helps foster positive work relationships. Pairing a new hire with a seasoned employee helps pass along skills and information developed over years of experience. Passing valuable information from one generation of workers to another helps new hires feel more comfortable, learn faster and remain engaged in their work longer.
4) Help with Company Navigation
A mentor program provides navigation through the company. For example, a mentor can answer questions about salaries, benefits and office culture. They can attentively listen and honestly respond to challenging questions while maintaining the company’s reputation. A mentor can share what they have learned through experience and let the mentee make their own decisions about moving their career forward.
5) Mitigate Risk
Implementing a mentor program can reduce risk. Because firms face risk for legal claims due to the nature of their work, a mentor can provide guidance on proper communication and document retention relevant to client interactions. A mentor may share with a mentee firm policies and provide professional etiquette tips. A mentor may discuss issues a mentee has with a client and proactively guide the mentee to avoid potential legal issues.
6) Increase Retention
Providing a mentor program helps increase employee retention. Because accountants want to keep learning and advancing their careers, a mentor can provide advice for development and promotion within the organization. When the employee sees continual career growth, they typically remain loyal to the company longer.