Mentoring Statistics

Does mentoring work? Let's look at some mentoring statistics that prove that it does.

Business mentors are usually volunteers who are willing to give up their time to help an individual involved in starting up a business, or expanding a business. Their role is to support and develop an entrepreneur through challenging periods, stimulating them to work effectively to allow the business to grow. These mentors can allow an entrepreneur to develop key skills needed for the job. They can also provide their expertise in developing an effective marketing mix that maximises profit and productivity.

Mentoring statistics show that professionals who have used a mentor, earn between $5,610-$22,450 more annually, than those who perhaps didn't use a mentor.

An entrepreneur may also be having difficulty entering a new market, and struggling with the stress that comes with launching new products, throughout the launch period.

Business mentoring also helps improve the skills of employees, with mentoring statistics showing that employees who have received business mentoring, get to grips with the workings of the business, and any unwritten rules quicker than those who haven't. The source for this is Wilson and Elman, 1990.

Business mentoring also improves customer service, employee confidence and problem solving abilities. All these attributes drive a business forward, in the sense of providing a good attitude towards customers, and providing good service that will make them want to use your services again - but it also drives a business forward in the sense that brand recognition can develop. More and more customers will be impressed with the product, and the service (which mentoring statistics suggest increases in quality with the implementation of business mentoring) - that they will wish to use the product again, bringing about potential brand loyalty.

The stats also suggest that the best 100 companies to work for in America (according to Hewitt Associate's analysis of data on corporate people practices - featured in Fortune Magazine), share three characteristic. These are that they take more pride and strides to involve employees directly in the business, giving them a say in what happens with the business, and how their role can develop. They also allow for greater consideration to the quality of life of all their employees, specifically taking note on terms of pay and holiday allowances. Finally, they are seen to be making more of an effort to create supportive company culture and an inclusive environment that makes every employee feel important, and part of a team.

Mentoring statistics also show that women who have been involved with a form of mentoring relationship, have reported an increase of almost 94% in their professional productivity - as a result of this kind of business mentoring. The study was performed in the early 1990s, involving staff from Utilico Inc. If it would be possibly to provide perhaps 25% of female managers in organisations, nationally or globally - whilst also allowing for a reasonable increase in the productivity of their subordinates, then the loss of this particular added value can be seen as roughly $9 million annually. This is sourced from Workforce, 1992.

• A PDF on Mentoring statistics.
• Mentoring Success Stories.