Unlock the power of your people with a business mentoring program
Looking to develop your top talent, attract the best, and boost mental well-being in your workforce?
A Mentoring Program is your answer.
Benefits of a business mentoring program at your company.
Creating a positive environment with a business mentoring program demonstrates your company cares about the development of its people.
Ultimately, an effective mentoring program leads your company to see improvements across multiple business metrics. because your people feel valued.
Having your own mentoring program means you will see many benefits, such as:
- Increased confidence and well-being within your people.
- Your people taking pride and satisfaction in their role.
- Increased retention of your talented people
- Improvements in attracting great people.
- A reduction in feelings of self-isolation.
- An overall happier work environment
- Your leaders thriving with purpose.
Improve the confidence and skills of your people by giving them the opportunity of mentoring.
How do you build a successful mentoring program?
We focus on 2 important things that will ensure your mentoring program is a success.
- You need to have a structured process when developing the program. We use our 5 stage iterative process for this.
- You need to always consider the 4 principles of success with the decisions you make in your program; simple, sustainable, effective and engaging. We ensure this happens for your program.
The 5 stages of developing a mentoring program
All our next level business mentoring programs follow a simple 5 stage iterative process to ensure there is structure to building your program.
The closed loop allows feedback from previous programs to help improve the next programs to your people.
The philosophy you should adopt is
- your first program will be good.
- your second program will be great
- your third program will be outstanding.
By the time you have run 3 programs you will have developed a culture of mentoring within your company.
1. Plan
Determine the focus area of your program and identify leaders within your company.
2. Establish
Set up your program, including identifying mentees, mentors, and key dates.
3. Execute
Begin your program, run the first mentoring session, and continue your journey.
4. Conclude
Finish your mentoring program and reflect on your journey.
5. Evaluate
Receive feedback from your employees, evaluate the results, and look for any changes to adopt in your next mentoring program.
The 4 principles for a mentoring program.
We believe in four principles when designing a successful mentoring program. These four principles support one another and are equally valuable to ensure your program is a success for your company, and your employees.
Simple
A simple structured business mentoring program is key. It needs to be easy to understand, low pressure, has clearly defined roles, and doesn’t overwhelm people with unnecessary information or requirements, allowing the program to flow smoothly.
Sustainable
Identifying barriers that could affect your program, and creating solutions to overcome them, ensures your program will be sustainable. Next Level Mentoring design your program so anyone within your company can run it, rather than relying on specific people for it to be a success.
Effective
Mentors and mentees should establish goals for what they want to achieve with the program and align them alongside your company’s strategy and values. We provide effective tools, templates, guidance and software to make this happen.
Engaging
Make it fun and exciting! Having mentors and mentees enthusiastic about how great the program is, is a great way to showcase your company, and encourage others to want to be part of it.
Mentoring is an effective way of attracting and retaining your people.
AMPI
"NLM has provided support and invaluable guidance for the Australian Maritime Mentoring Program, in addition to running several webinars that have been well received by our members. Their commitment and expertise in the field of mentoring are second to none. We intend to continue working with NLM in the future."
Woodside
"Bringing in outside expertise from NLM helped increase the credibility of the program for the participants – more so than if it was run internally. This played a role in the program's success."
You can check out Woodside's full media release on our mentoring program
What is the Return on Investment
When mentoring is done well it helps
- Attract talented people to your business
- Develop and retain people in your business
Lets say your mentoring program costs $20,000 AUD and provides development opportunities to 50 people; 25 mentees and 25 mentors (because the mentors get just as much value from the program as the mentees).
There will be several people in those 50 that are probably thinking about leaving your organisation.
If 1 of these people decides to stay with the company because you gave them the opportunity to grow themselves by being part of the mentoring program, then the program has already paid for itself.
Why is that?
The cost of someone leaving can be anything from 100% to 400% their annual salary; costs to the person leaving, costs to hire, cost to train, lost productivity and the ripple effect it has on other people.
With stopping just one person leaving, you have saved around $100,000 to $1,000,000 depending on the person that stayed.
And on either end of that spectrum the program has already paid for itself.
How much does a mentoring program cost?
The two main variables for the cost of a mentoring program are:
- How many people you want on the program.
- How long the program will run for.
All NLM programs contain the following.
- Advertising the program and running the Expression of Interest
- Our matchmaking process
- Training for the mentors and mentees (webinar + individual access to our online training)
- Kick-off
- 3 feedback sessions
- End of program ceremony
- Mid-program report and end-of-program report including areas for improvement
Other additional items (such as level of coaching and mentor accreditation) can be added on as extras/
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