The art of management lies in decision-making and the smooth functioning of the company. Mentorship is a powerful tool that helps leaders and managers create synergy between employees and upper management.
Now more than ever, it is essential for managers to concentrate on employee development, growth, and success. This is because, with a hybrid style of working environment, leaders must be adaptive to change.
With competition to sustain and succeed in the corporate world, organisations need a culture that allows their employees to learn and grow. To make that happen, it is crucial to retain and look for ways to nurture the best people in the organisation. Employees are the most essential asset for any organisation. So, one of the critical areas for business leaders to cultivate is bringing out the best in their employees but also attending to their goals and job satisfaction.
This article will discuss what is mentorship and the benefits of mentorship that can improve employee performance. A masters in business management equips managers with the nuances to be prepared and progressive in their role to excel as a manager.
A business management course online will provide practical learning to candidates by allowing them to socialise and network with diverse groups of people to understand their strengths and weaknesses.
What is mentorship?
Mentorship in the workplace is a relationship between a mentor and a mentee. The role of a mentor is to guide the less experienced employee in the group, which helps him to grow and improve in the professional field.
In an organisation, a good mentor will give all employees equal opportunities to assess their performance, point out areas of improvement and encourage them to learn new skills crucial to their job role.
The art of management with effective mentoring programs will give employees a solid foundation to do their best and succeed. Let us now discuss what makes a mentor suitable for the role and the importance of having mentors in the organisation.
What are the qualities to excel in a managerial role?
There are several qualities a mentor must possess to excel in a management role. A masters in business management can hone a professional’s skills to become a good mentor.
- Must possess leadership skills: There are natural mentors, and there are mentors who emerge from training and experience. Therefore, professionals must possess attributes that can be developed further through masters of management studies.
- Willingness to share: Another personality trait that a good mentor must have is the willingness to share their knowledge and expertise. Mentorship is a two-way process. A mentor must communicate and share feedback and expertise to let employees grow and learn.
- Listening & empathy: A good mentor must be a great speaker and an excellent listener. Mentors must be curious to know other employees’ perspectives which can further develop their relationship in trust.
- Constructive feedback & respectful: A mentor should provide constructive feedback and criticism but at the same time must also be respectful. They must acknowledge employees, give them time to work and come out stronger. A good mentor should be kind and avoid favouritism.
The importance of having mentors in organization
By taking the mentees under their wings, masters in management and leadership prove that mentorship is worth the effort and time were given to each employee for the organisation and the team.
- Retain employees: Mentors are role models for employees. By providing a safe space for mentees to ask questions, get constructive criticism, gain insight into the experiences of others, and grow professionally, mentoring programs can help individuals flourish.
- Cultivate new skills: The best mentors know how to challenge their mentees just enough so that they grow professionally and personally while also gaining valuable technical and soft skills. As a result, workers gain the confidence they need to tackle challenging situations.
- Company growth: The art of mentorship fosters positive working relationships. Investing in the employees shows the company’s dedication and commitment to invest in its future, which will rely on the trained and experienced employees they work with today.
Benefits of mentorship in an organization
For the practical art of management and leadership development, a masters in management degree can provide leaders with a broader perspective that can help them in their career progression and their teams.
1. Encourage learning & development
An organisation mentorship program can encourage employees to develop new skills, learn and pursue new interests. Mentors in companies can organise webinars and suitable courses as in-house training programs. Through these programs, employees can be motivated to participate and learn various business skills like financial analysis or communication.
2. Promotes diversity & inclusiveness
As having a good mentor for all employees is essential, women in senior management can be given more opportunities to share their experiences. As they juggle between household chores and shoulder responsibilities in the company, other employees can learn, interact and grow from their experiences.
3. Reduced training costs
Mentorship is equally crucial for companies and employees. As mentors invest time and effort for the teams, it saves the company additional training costs or one-on-one interactions between employees. The upper management can get a monthly report on the employees’ progress and understand talent acquisition and development.
4. Demand for mentors in companies
With this, you understand what mentorship is and the value a good mentor can bring to the organisation. In India, companies are becoming more thoughtful and people-centric, so the demand for mentors is increasing. According to Ambition Box, the average salary of a mentor in India is Rs. 3.6 Lakhs per annum.
Some companies hiring mentors in India are Amazon, Whitehat Jr, IMS learning resources, etc. A masters in management can help you implement successful mentorship programs in organisations and hone your skills to be more empathetic and respectful towards other employees.
While most of the Fortune 500 companies have adopted the culture of mentorship and are continuously focusing on mentoring programs to upskill and help employees reskill, India, on the other hand, understands the importance of mentorship for the company’s growth. A masters in business management allows professionals to empower themselves in leadership roles, identify their strengths and weaknesses, capitalise on the networking opportunities during the online course, and help others.