Mentoring is important. Even though this may not seem like a particularly novel idea in and of itself, company executives and entrepreneurs—especially those in higher positions—all too frequently fail to consider it.
Nevertheless just because you’ve reached the top of the ladder doesn’t mean you have all the answers, as Dr. Ruth Gotian and Andy Lopata contend in Mentoring: A Complete Guide to Effective Mentoring. Though you can still gain from other viewpoints and thoughts, you should undoubtedly be able to handle obstacles better than someone without your experience. It can be lonely to work as an executive. None of your reports may be aware of or sympathetic to the difficulties you are dealing with. That’s why having a mentor is essential.
“Even the world’s leading athletes have coaches to fine-tune their approach and to help them achieve even better results.”
Being a mentor is not just “nice to have.” All leaders should see it as essential, mainly because it helps them perform better than their counterparts who don’t take advantage of mentor relationships.
The numbers behind the ‘why’ of mentorship
A cursory glance at the figures may persuade you otherwise if you’re not convinced about the benefits of mentoring. According to a study conducted by the American Society for Training and Development, 75% of executives said that mentoring had a significant impact on their professional growth.
Referring to another research, American companies receiving mentorship support can boost their yearly income by 83%, whereas non-mentored companies only see a 16% gain.
Studies have consistently demonstrated that individuals who have mentors, irrespective of their position within an organization, generally experience greater job satisfaction and even increases in their quality of life.
In a recent interview, Shaffy Yaqubi, head clinical skills trainer at the London Center for Medical Sciences & Research, said, “Most of us understand that working with a quality mentor can be a major boon during the early stages of our careers.”
However, the advantages of mentoring persist even when we rise to the position of leadership. In any field, the most prosperous executives are never still. They want to work hard to keep becoming better, and one of the best tools for accomplishing those goals is a mentor, he went on to say.
Even with the obvious advantages of working with a mentor, many leaders find it difficult to seek assistance. There are several possible causes for this. An entrepreneur may quickly grow too self-assured to believe they require help. On the other hand, people may be afraid or embarrassed to ask for assistance because they believe it will diminish their accomplishments.
However, as Andy Lopata points out, “It makes perfect sense when you look at the data.” Nobody is an expert, so having someone by your side to guide you through difficult situations is truly valuable. Occasionally, the mentor’s insights derived from their experience or knowledge can make a difference by providing you with ideas or information that you would not have otherwise had access to.
Other times, it’s only the advantage of an entirely new perspective that reveals your blind spots and enables you to tackle the problem differently.
How mentors can help leaders
One of the most difficult aspects of mentoring for a lot of leaders is locating a mentor. Early career professionals can frequently rely on their employer to pair them with a more seasoned worker who can act as a mentor. However, these entrepreneurs usually don’t have these kinds of connections within the company that they founded.
That being said, mentorship opportunities are not inaccessible. According to Yaqubi, “Our peers, who are in similar stages of their careers as us, frequently provide some of the best mentoring.”
These people share many of your experiences, and often this allows them to see things from other angles and with important insights that can help you overcome your obstacles. You can benefit from their outsider viewpoint to reframe your ideas and hone your abilities.
Formalization of these mentorships is not always necessary. Simple methods to start them include organizing frequent gatherings with other business owners or executives in your organization to talk about issues and come up with solutions. Such ties can be sustained via proactive outreach and a willingness to offer your thoughts.
It’s important to remember that leaders can improve their performance even more by acting as mentors to others. Leaders may significantly increase employee satisfaction, engagement, and productivity by mentoring their team members. This makes it possible for their team to do considerably more than they otherwise could, and it also increases the likelihood that they will remain in the company for the long run.
Make the most of your leadership potential
Selecting the proper mentors is one of the most important steps on the route to success for leaders who want to reach their full potential. Leaders can gain from mentoring connections with peers and even their juniors who have fresh perspectives and ideas, even though they may not always have more “senior” mentors to turn to.
It is extremely difficult to reach your full potential on your own, as Gotian and Lopata write. You are blind to what you do not know and unable to see past the horizon. Success in your profession depends heavily on your ability to identify the important people, opportunities, and pitfalls to avoid.
A mentor can help in opening doors you were unaware existed, shield you from the politics that taint every organization, and encourage you when things do not go according to plan. The ability to share knowledge, ideas, and experience with others—or even just to motivate one another to take the next step—is an essential ingredient of personal achievement.
In the end, you will be able to strengthen your areas of weakness, accentuate your strengths, and become far more productive and influential than you could be on your own by using mentors in your profession and mentoring others.
(Tashia Bernardus)