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The Business Case for Mentoring

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While the term “mentoring” is often used, establishment of meaningful mentoring relationships and programs is a true art form that when effectively implemented, yields significant gains for both the mentoring pair and the firm/company investing in such resources. The following highlights mentoring subtleties that make a critical difference in the success of the relationship, including: how mentorship differs from coaching and sponsorship, formal and organic relationships, reverse mentoring, optimal mentor pairings, effective communication, the benefits of mentoring, and useful mentoring resources.

I.Types of Mentoring Relationships
“Mentoring” is broader than often described and takes many forms beyond traditional, formal, one-on-one pairings.1 The following is an overview of those relationships, including the differences between coaching, mentoring and sponsorship; formal versus informal pairings; and reverse, or millennial or reciprocal, mentorships.
A. How Mentoring Differs from Othe…