The President and COO of the AtWork Group, Jason Leverant, notes that lack of faith in employers and financial pressures are causing people to be unhappy at work, making it difficult to retain talent. A survey by Alight reveals that only 41% of people believe their employer cares about their well-being, with three-quarters of U.S. employees reporting moderate-to-high stress levels, particularly among Generation Z and millennial workers. Record-low unemployment and skills gaps in the workforce are further exacerbating the issue, as employers aggressively recruit qualified workers, putting the best employees at risk of being poached by competitors.
To address the challenges of retaining employees and attracting talent, small businesses can consider implementing a mentoring program. According to Gallup, employees often search for new job opportunities to increase pay, improve well-being, and find new opportunities for growth and development. In a landscape where nearly six out of 10 employees are silently leaving their jobs and workplace morale is declining, a mentoring program can help re-engage the workforce and provide a competitive advantage against other employers.
A structured mentoring program provides employees with support and guidance to excel in their roles. Seasoned employees share their expertise with new workers, helping them acclimate to the job and gain the necessary skills and knowledge for success. This can also help build leaders, foster a learning culture, and boost employee confidence, while improving morale among existing team members. By investing in mentoring, businesses demonstrate faith in their employees’ performance and empower them to contribute to the future success of the organization.
For small businesses, implementing a mentoring program can be challenging due to limited time, resources, and staff. However, retaining talent remains a critical issue for small businesses, with nearly half of business owners finding recruitment and retention somewhat difficult. Mentoring can be a lifeline for small businesses, providing a valuable tool for employee engagement and development. Leverant offers some tips for small businesses looking to start a mentoring program, including selecting the right mentors, starting mentoring during onboarding, leveraging industry associations for mentorship resources, highlighting the program during hiring, and seeking out mentorship opportunities for business owners through organizations like SCORE.
Overall, implementing a mentoring program can help employees thrive and give businesses a competitive edge in attracting and retaining talent. Leverant emphasizes the importance of investing in employee development and engagement, especially in a challenging labor market where employees are seeking opportunities for growth and well-being. By creating a culture of mentorship and support, businesses can improve morale, increase retention, and position themselves as desirable employers in the competitive landscape.
