{"id":4285,"date":"2020-07-14T17:06:12","date_gmt":"2020-07-14T17:06:12","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=4285"},"modified":"2022-08-23T18:56:48","modified_gmt":"2022-08-23T18:56:48","slug":"mentorship-programs-in-shared-services","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2020\/07\/mentorship-programs-in-shared-services\/","title":{"rendered":"Mentorship Programs in Shared Services"},"content":{"rendered":"\r\n

Introduction<\/strong><\/p>\r\n\r\n\r\n\r\n

A basic definition of a mentorship program is to match people with skills and knowledge acquired over time with people who have less experience who will benefit from insights from the more senior employees.\u00a0\u00a0 The mentor can be a trusted counselor helping the less experienced employee<\/a> plan their career and set development plans that can accelerate the growth of their skills and their ability to positively impact their job performance.\u00a0 Both parties, the mentor and the mentee, can find the relationship rewarding, with meaningful benefits likely for both.\u00a0<\/p>\r\n\r\n\r\n\r\n

Company Experience<\/strong><\/p>\r\n\r\n\r\n\r\n

A recent PeercastTM<\/sup> in our Shared Services leadership research area<\/a> featured a global company with over $50B in annual revenue discussing their approach to creating and administering a mentoring program for their North American Shared Services organization. \u00a0The Shared Services mentoring program uses a formal approach to mentoring with leadership from a Mentoring Council created to both define and monitor the strategy for mentoring, and then operationalize the program with a robust implementation with ongoing program oversight.\u00a0<\/p>\r\n\r\n\r\n\r\n

For the featured company, mentoring is defined as \u201ca structured relationship in which a more senior leader or manager is formally assigned to advise, counsel and support an individual or a small group of individuals outside of a reporting relationship, for a specific period of time (usually 1 year) for development and retention purposes\u201d.\u00a0<\/p>\r\n\r\n\r\n\r\n

Some of the objectives of the program include employee development, employee retention, fostering inclusion and acceptance, preparing people for new roles, expanding professional networks, and supporting individuals acclimating to the culture.<\/p>\r\n\r\n\r\n\r\n

Techniques discussed in detail include \u201cspeed mentoring\u201d, \u201chot topics\u201d, \u201cmentoring circles\u201d, and \u201cone-on-one pairing\u201d.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n

The feature company presentation and a recording of the PeercastTM<\/sup> discussion are available for Peeriosity member companies and their teams in the member\u2019s area of the Peeriosity website.<\/p>\r\n\r\n\r\n\r\n

iPollingTM<\/sup> Results Review<\/strong><\/p>\r\n\r\n\r\n\r\n

Peeriosity\u2019s iPollingTM<\/sup> was used to provide insights into the approach Peeriosity member companies were taking with regard to mentoring programs.\u00a0 The use of a formal mentoring program was reported by 37% of Peeriosity member companies with an additional 11% indicating that they have implemented an informal mentoring program.\u00a0 11% are currently evaluating, with 41% indicating they haven\u2019t considered the idea.<\/p>\r\n\r\n\r\n\r\n

\"status<\/figure>\r\n\r\n\r\n\r\n

The second polling question asked about the level of success achieved for companies with mentoring programs, with 27% indicating their mentoring program was very successful, is widely utilized, and has significantly improved the development of employees.\u00a0 An additional 37% indicated the program was moderately successful, with the balance of responses ranging from limited success to \u201ctoo early to tell\u201d.\u00a0 Interestingly, when you look at the relationship between how companies responded to the first question and how they responded to the second, every single company who reported having a very successful or a moderately successful program indicated that they had implemented a formal mentoring program. \u00a0\u00a0Here are the details:<\/p>\r\n\r\n\r\n\r\n

\"level<\/figure>\r\n\r\n\r\n\r\n

A few of the comments from members include:<\/p>\r\n\r\n\r\n\r\n