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Mentor Programs that Retain and Engage Employees

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If that’s you, join Libby Powers, as she discusses how to build a strong mentor program that will help you achieve your goals of increasing employee retention and engagement.

During this webinar you will learn:
-Key attributes needed for a strong mentor program
-A step-by-step process on how to build your mentor program
-How mentor programs can help increase employee engagement and retention

Published in: Recruiting & HR
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Mentor Programs that Retain and Engage Employees

  1. 1. Presenting Today Libby Powers Client Success Consultant BizLibrary Katie Miller Learning Content Specialist BizLibrary
  2. 2. www.bizlibrary.com/demo
  3. 3. What is a Mentor Program? bizlibrary.com | YOUR ONLINE LEARNING PARTNER 5 “Mentoring is a system of semi-structured guidance whereby one person shares their knowledge, skills and experience to assist others to progress in their own lives and careers.” – The University of Cambridge
  4. 4. Mentoring is NOT: bizlibrary.com | YOUR ONLINE LEARNING PARTNER 6 • Supervision • Manager and employee relationship
  5. 5. Key Attributes Needed to Build a Mentor Program bizlibrary.com | YOUR ONLINE LEARNING PARTNER 7 Begins with Onboarding Willingness to learn from one another Leadership Support Established roles, responsibilities and goals
  6. 6. What Challenges Could a Mentor Program Help Solve? bizlibrary.com | YOUR ONLINE LEARNING PARTNER 8 A. Career Advancements B. Skills Gaps C. Succession Planning D. Employee Engagement E. Turnover Reduction POLL QUESTION: Choose all that apply
  7. 7. 86% Stay 2x More Likely ONBOARDING IS A CRITICAL TIME IN THE RETENTION OF AN EMPLOYEE
  8. 8. “No matter the stage of their career, should be surrounded by people of all ages and various professions for inspiration and to learn from other’s successes and failures.” – Brian Chesky, CEO and co-founder of Airbnb
  9. 9. Leadership Support is Vital for Your Mentor Program to Succeed Short-term costs Long-term gains What are the costs of a mentor program?
  10. 10. “93 percent of the workers surveyed said goal setting is important to their work performance.” - Robert Half Survey
  11. 11. 5 Steps on how to build a stronger mentorship program bizlibrary.com | YOUR ONLINE LEARNING PARTNER 13 Lay the groundwork Prepare for launch Launch program Build relationships and assess the progress Get feedback and evaluate
  12. 12. Step One: Lay the Groundwork bizlibrary.com | YOUR ONLINE LEARNING PARTNER 14 Find a mentor program coordinator Build a mentor program committee Obtain leadership Buy-in
  13. 13. Step Two: Prepare for the Launch bizlibrary.com | YOUR ONLINE LEARNING PARTNER 15 Effective communication Internal marketing needs to be created
  14. 14. Step Three: Launch the Program bizlibrary.com | YOUR ONLINE LEARNING PARTNER 16 Reiterate the goals and roles of the mentor and mentee
  15. 15. Step Four: Build Relationships and Assess the Program bizlibrary.com | YOUR ONLINE LEARNING PARTNER 17 Frequent check-ins by leadership, mentor program coordinator and committee Relationship building of the mentors and mentees
  16. 16. Step Five: Get Feedback and Evaluate bizlibrary.com | YOUR ONLINE LEARNING PARTNER 18 Feedback after 9 to 12 months after the program started Program Launch Feedback
  17. 17. Benefits of Mentoring bizlibrary.com | YOUR ONLINE LEARNING PARTNER 19 Improved employee engagement Attracting Prospective employees Increased employee retention
  18. 18. Attractive to prospective employees bizlibrary.com | YOUR ONLINE LEARNING PARTNER 20 87% of Millennials say development is important in their job. - Gallup
  19. 19. Improved Employee Engagement bizlibrary.com | YOUR ONLINE LEARNING PARTNER 21 18% higher revenue per employee compared to the average Millennials planning to stay with their employer for more than five years are twice as likely to have a mentor. 68% 32%
  20. 20. Increased Employee Retention bizlibrary.com | YOUR ONLINE LEARNING PARTNER 22 Knowledge Transfer + Succession Planning = Increased Employee Retention
  21. 21. Knowledge transfer bizlibrary.com | YOUR ONLINE LEARNING PARTNER 23
  22. 22. What Is The Mentor & Mentee’s Role? bizlibrary.com | YOUR ONLINE LEARNING PARTNER 24 Increased Employee Engagement The Mentor’s Role: • Improved active listening. • Re-energizing their career • Building more confidence and self-worth, by knowledge sharing The Mentee’s Role: • Able to increase their communication skills • Getting acclimated into a new career faster • Recognize what skills they can bring to the company
  23. 23. How does the organization benefit from increased employee engagement? bizlibrary.com | YOUR ONLINE LEARNING PARTNER 25
  24. 24. What is the mentor and mentee’s role? bizlibrary.com | YOUR ONLINE LEARNING PARTNER 26 Increased Employee Retention The Mentor’s Role The Mentee’s Role
  25. 25. How does the organization benefit from increased employee retention? bizlibrary.com | YOUR ONLINE LEARNING PARTNER 27 Employee Senior Level Employee
  26. 26. Key Takeaways bizlibrary.com | YOUR ONLINE LEARNING PARTNER 28 • Benefits of mentoring • The mentor’s and mentee’s role in increasing employee engagement and retention through mentor programs • 5 key attributes needed to build a mentor program o Lay the groundwork o Prepare for launch o Launch the program o Build relationships and assess the progress o Get feedback and evaluate • The steps to create a strong mentor program
  27. 27. Questions?
  28. 28. Being a Great Mentor or Mentee Video Course This six-part series of video lessons will help mentors and mentees be active participants in the mentoring process and understand what drives a good partnership, as well as make the time spent together as productive as possible. Being a Great Mentor or Mentee
  29. 29. Conducting a Formal Mentoring Program Video Course This video course, consisting of three video lessons, will help you understand the value of mentoring relationships, how to set up and administer a formal mentoring program, and what to look for when pairing mentors with mentees. Conducting a Formal Mentoring Program
  30. 30. Let us know through the poll if you’d like a free demo of BizLibrary’s online course collection. www.bizlibrary.com/demo Try out these video lessons and more!
  31. 31. Thank you for attending! Katie Miller Learning Content Specialist BizLibrary Libby Powers Client Success Consultant BizLibrary

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