Companies With Great Monitoring Programs
The competition in the world of business is more demanding than ever before.
Startups, for example, encounter some trouble establishing their presence in the industry of their choice. Also, it is challenging to please customers these days.
When running a business, your ultimate goal is to make noise in the market, increase online visibility, and boost a high return on investment.
But it is not going to be easy. It will be a complicated journey. While there are many things to think about and consider, focusing on your team’s personal and professional development is a smart move to do.
Your employee is the lifeblood of your organization, remember. Without a team of competent, committed, and efficient professionals, it will be impossible to develop a product or service that resonates to your target market.
On the other hand, running a business with a skilled and qualified bunch of individuals will be different. You can provide individualized services to your prospective customers, streamline operations, increase revenues, acquire new loyal partners, and open other successful opportunities.
But as a beginner, you are probably confused about how to develop your talents strategically. Don’t worry as you are not alone. Most small and even sometimes big companies experience the same thing. This is where a company mentoring program can come to your rescue.
Over the past few years, most businesses from any industry have integrated a mentoring program into their operations, and it helps them be surrounded by world-class people.
Studies have shown that approximately 67% of businesses reported a positive change in employee productivity because of mentoring.
Other research suggests that 71% of people with mentors say their organization provides them with an opportunity to advance to their career.
Experts also say that around 94% of employees would stay in a company for an extended time, especially when they are given enough time to learn new things and grow as a professional.
What do you feel about a mentoring program as a business owner? Maybe, you feel skeptical if it is worth it. We cannot blame you. But below, we have gathered the top three companies that added a mentoring program into their operations. Without further ado, let’s get into it! We hope this could help you make a quick and confident decision.
Who would not know Caterpillar? The company is the leading manufacturer of both mining and construction equipment across the world.
Caterpillar is also reputed as one of the companies that use a mentoring program.
Like other programs in organizations, its main purpose is to facilitate employees’ continuous learning and professional development.
How does its program work? Newly hired employees are assigned with an experienced and capable mentor to assist them. This usually lasts for three years.
The job of the mentor is to provide the mentee guidance on soft skills development, work-life balance, culture, and other important subjects the latter needed to learn.
Every employee, regardless of seniority, can be transferred to new departments to learn something different, grow their network, and help them become a multi-talented professional.
As an American Fortune 100 corporation, Caterpillar has established approximately 13 employee resource groups to ensure quality and reliable mentoring even in a larger setting.
Caterpillar has also implemented a reverse mentoring program. This is where younger employees teach the seniors in the company about the newest technology in the industry and other things they must be well-accustomed to.
Surely, a lot of you would think that a mentor should be older than the mentee. But it depends on a person’s knowledge and experience, indeed.
Another company with a great monitoring program is General Electric. If Caterpillar specializes in construction/mining equipment, General Electric operates thru aviation, venture capital, finance, healthcare, additive manufacturing, power, digital industry, and renewable energy.
Like Caterpillar, General Electric is a recognized leader and a pioneer of reverse mentoring. Its mentoring program is tailored to encourage collaborative learning. It brings in certified and experienced executives to mentor newly hired and even existing employees. They teach everyone in all their departments critical skills that can help improve their productivity and performance.
Apart from teaching, the General Electric mentoring program allows employees and executives to establish rapport and meaningful relationships.
Being in the industry for many decades already, General Electric always strives to promote and maintain a collaborative environment that encourages employees to unleash their full potential and become the company’s future leaders.
General Electric also prides itself on other programs like a two-year rotational program in both marketing and sales. But wait, there’s more! It has Ally Alliance, Women’s Network and Transgender, and other employee resource groups.
No wonder General Electric has been a successful multinational conglomerate in the US for the past decades already.
Bain and Company
Bain and company get our third spot. Like the others in the list, Brain and Company aims to offer strong interpersonal relationships, one-on-one connections, and growth to every employee it has.
More specifically, the consultants, younger and senior employees at Bain and Company have a mentor.
Aside from the mentoring program, Bain and Company provide and implements further professional development to their people in the form of specialized affinity groups, including Veterans at Bain, Blacks at Bain, and Latinos at Bain. This gives them the opportunities to find guidance and even commonalities with their peers.
For those who don’t know, Brain and Company is a management consultancy in the US and has been in operation since 1973. From there, it has transformed into a top consulting expert in the country. So, are your employees not as efficient as they should be?
Do you have a high employee retention? Or are your revenues not higher than you expect in the first place? Whatever your case may be, it is time to invest in your employee’s development, and a mentoring program can be a lifesaver. Compared to training, a mentoring program is more cost-effective without compromising quality results. What are you waiting for? Create and implement a mentoring program and see the difference in your business operation.
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