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Despite the small investment of time, mentoring can reap big rewards for both parties involved.

Numerous studies have shown that mentoring at work can be a good career move for you – not just for a mentee. While it does require a level of effort – such as giving time and properly planning what knowledge you would like to impart onto your mentee – there are a number of benefits.

According to a 2013 study published in the Journal of Vocational Behaviour, mentors are typically more satisfied with their jobs and experience a greater sense of purpose. In some instances, mentorship may also lead to a pay rise for both the mentor and the mentee and individuals who mentor are more likely to get a promotion.

Some of the other perks of mentoring include;

1. Strengthening interpersonal skills. Mentorship provides you with the opportunity to interact with others that you may not necessarily have worked in close contact with. As such, it can give you a unique perspective on both your own career but also give you new ideas
2. Develop new skills. The best mentorships are a two-way street, with both parties sharing their experiences on their careers but also learning from each other – such as learning how others think or even approach thinking of new ways to approach a particular situation at work. This can prove invaluable when learning about others and how they may behave in a given situation. 
3. Retain top talent. Everyone wants to work with intelligent, motivated people. Cultivate future leaders – maybe even a successor – by helping them achieve noteworthy goals.
4. Expand your professional network. As you help open new doors for a mentee, keep in mind that he or she can do the same for you.
5. Regain a sense of empowerment. Maybe you’ve forgotten just how much you know. When another person asks for and listens to your advice, it naturally boosts your own confidence.
6. Sharpen your listening skills. Mentoring makes you a more active listener, which helps to ensure that talented employees feel valued.

Basics of mentoring

For a lot of working professionals, time is the biggest concern when considering to mentor. However, even a small commitment of 15 minutes a week can be beneficial. Make it work by establishing clear expectations about confidentiality, your time and the best way to communicate. To get started:  

1. If appropriate, invite your mentee to sit in on meetings you’re conducting
2. Talk with your mentee about future goals
3. Share anecdotes about your career
4. Offer tips for navigating the workplace
5. Connect your mentee with others in the field

Mentorship can be a real game changer. By volunteering your time and experience, you can make a difference in someone’s career – and boost your own as well.

Sources: Raymond James Financial