The top six benefits of formal workplace mentoring initiatives include:
The business case for mentoring is so strong that in a Wharton study, people who mentor got promoted six times more than people who did not, and mentees were promoted five times more. Retention was 20% higher in both groups five years later. Study after study proves that there is no downside to mentoring if the program is well-engineered. Across the board, companies that invest in formal workplace mentoring programs experience substantial returns on their investment. DDI World disclosed in its Mentoring Global Leadership Forecast (2018) that 54% of organizations in the top third of financial performance have formal mentoring programs, as opposed to 33% of organizations in the bottom third.
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