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Why You Need a Mentoring Program (and Tips to Build It)

Imagine you just landed a new job at a thriving company. You’re excited to help the business succeed and spark your career. Enthusiasm and potential are great, but they need to be harnessed and pushed in the right direction.

This is where I was when I joined Paycom as an intern. I knew I could make an impact, but the path to my current role as the chief sales officer would be hard work. Luckily, Paycom gave me the support I needed to rise to the occasion and reach this goal in something we all benefit from: mentorships.

In today’s tight labor market, great mentors are just as important now as they were in the past. I wouldn’t be where I am without them. In fact, it’d be tough to find any leader or innovator that didn’t benefit from a mentor. According to Forbes, a company featured in one case study used a mentoring program to:

  • improve retention for mentees by 23%
  • multiply the rate of promotion for mentees by 5
  • advance the average pay grade for all participants

You have the power to bring more confidence, development and cooperation to employees, too! Here’s some advice I picked up through my journey from mentee to mentor:

Mentoring tips and strategies

When I became Paycom’s first sales training manager, I quickly learned the opportunity to grow and inspire my trainees was more empowering than any sale I made myself. As I grew to manage larger teams, I formed three steps to lead that I use today as a member of the C-suite.

Challenge and support""

My parents were always there to encourage me when I needed it. And their commitment to my success developed my passion for leadership.

A mentor has to strike a balance between pushing employees to be their best and giving them the support they need to keep trying despite some mistakes. Bring a similar approach to your mentoring program!

Celebrate and promote

When we’re pushing to be the best, we don’t always take time to consider our accomplishments. Whether it’s for the newest employees or a group of regional managers, I make it a point to celebrate our wins. Doing so helps everyone. Because according to Moving Ahead, a professional coaching firm, 87% of mentees and mentors feel empowered by the relationships they share and have developed greater confidence. Celebrating accomplishments is a great way to nurture their confidence even further.

But don’t just say you’re proud of your employees — show them! Reward employees for the progress they’ve made. This gives them evidence of their growth and excites them for what lies ahead.

Motivate and develop

Though I loved mentoring new hires, I had to take a step back as my role — and what I could accomplish as a mentor — reached a higher level. I realized I shouldn’t push my mentees to only become better employees; I needed to develop them into great mentors themselves!

I instill this need in every leader I mentor so they can channel that same energy into the relationships with their mentees. After all, mentoring is a cycle that gives back to everyone involved.

How to build a mentoring program

Some mentorships happen organically, but this doesn’t mean you can’t set the stage. After all, a report from CNBC reveals an overwhelming 91% of employees with career mentors are more satisfied with their jobs. Keep these four steps — from Paycom’s mentorship guide — in mind as you implement mentorships in your workplace.

1.  Know your reason

Think about how employees could benefit from mentoring. I make it a point to speak to my team regularly to stay aware of what they want and need.

2. Find heroes

Always keep an eye out for great mentors and mentees. I’m always proud to see my co-workers learn from one another, and I bet you will be, too!

3. Set goals

Create goals with your employees in mind. After all, mentorships are meant to elevate them.

4. Maintain and measure

Continue to support your people throughout their mentorships, and take note of ways to make them even better in the future. I’m always considering ways to enhance the programs I help lead, and mentorships aren’t any different.


How we help

I love mentoring as much as I love giving businesses the self-service tech they need to develop the best possible mentorships.

Look into a survey tool that helps you easily gather valuable feedback to help steer your program in the right direction. With the help of a powerful learning experience, you can deliver bite-size, insightful content to your mentees and mentors. And consider performance and compensation tools to help you reward progress fairly and within budget.

Learn more about how to build and enhance an effective mentoring program in our guide. And explore Paycom’s single software to see how it boosts development, engagement, efficiency and more!

DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.

About the author
Author picture, Holly Faurot
Holly Faurot
Faurot, chief sales officer, has served in a number of roles during her tenure at Paycom, including vice president of client relations, regional vice president, sales training manager and sales consultant. A born leader and a 2012 honoree in Oklahoma’s 30 Under 30 awards, she has helped a number of individuals and clients achieve success through her energetic spirit. The product of a dairy farm in Kenefic, Okla., Faurot was taught at a young age the importance of working hard, being honest and having a desire to help others.