MENTORING ’ S
BIG BENEFITS
JENNIFER S . KORNEGAY
There is no question that mentoring benefits both the mentor and mentee . The only question is , why aren ’ t you part of a mentoring relationship ?
Results of countless studies in the last decade prove that mentoring boosts bottom lines . According to a 2022 study by MentorcliQ ( a mentorship software company ), 84 percent of Fortune 500 companies have mentoring programs , and 100 percent of Fortune 50 companies do . Nationalmentoringday . com says 67 percent of businesses reported an increase in productivity due to mentoring , while a whopping 70 percent of small businesses that receive mentoring survive for at least five years ( and often , more ), which is twice as long as entrepreneurs who are not being mentored .
From a purely dollars and cents perspective , mentoring makes sense . But its positive impact on both professional and personal development for individuals are even more compelling .
WHY YOU SHOULD GET A MENTOR
A Sun Microsystems study found that employees with mentors are promoted five times more often than their non-mentored colleagues . That ’ s a cold , hard stat . But Carmen Moore-Zeigler , Montgomery County Commissioner and President of Moore Zeigler Group , a business and technology consulting firm , witnessed the effects of mentorship up close when she ran the City of Montgomery and Montgomery County ’ s Small Minority Business Initiative for eight years . “ Mentorship opens access to a wealth of knowledge from someone who ’ s already been where you are , so they can point out pitfalls ,” she said . “ I ’ ve seen the insights gained from mentors directly grow mentees ’ businesses .”
And she remembers and still relies on the expertise she received as a mentee . “ I ’ ve had multiple mentors , starting with my father , but also Dr . Alfred Seawright and County Commission Chair Elton Dean ,” she said . “ I would not be where I am without their wisdom .”
BEYOND TEXTBOOK KNOWLEDGE
Kim Traff with Hampstead Community Realty knew she didn ’ t have the industry-specific knowledge she needed when she started her magazine RSVP . She sought out mentors to help , and echoed Moore-Zeigler on their value . “ Ken Woodard and Karl Dabbs had years of experience that no textbook could teach me , including what not to do !” she said . “ They were instrumental in guiding me on how to create a product that would set us apart from our competitors . I would not have been successful without the guidance of these incredible men .”
What Traff initially believed would be a short-term relationship grew into years , and she stresses why this longevity proved key . “ As unanticipated issues came up , they were great sounding boards to help me problem-solve with the confidence of their experiences ,” she said . “ While it is great to celebrate success together , it may have meant more to me having them to lean on during the trials .”
12 CentrAL Inc !