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Why mentoring is a valuable tool for SMEs

A mentoring programme in an organisation should be structured. Through such a programme, the mentee gets to learn from the mentor’s experiences and receive insights on ways to refine personal and professional goals and overcome career challenges

March 29, 2023 / 06:06 AM IST
Mentoring helps employees as well as business to grow. (Image: Unsplash)

Mentoring helps employees as well as business to grow. (Image: Unsplash)

Mentoring is a valuable tool for small and medium enterprises (SMEs), which face unique challenges such as limited resources, lack of expertise and the need to adapt quickly to changes in the market. Mentoring can come in handy to overcome these hurdles.

There are many reasons why mentoring is important for SMEs. First, mentoring allows experienced professionals to share their knowledge, skills, and expertise with less-experienced individuals.

In SMEs, where resources may be limited, mentoring can be an effective way to develop the skills of employees and help them take on new responsibilities. This will lead to a more capable and resilient workforce, which is better equipped to adapt to changes and take advantage of new opportunities.

Second, it can help individuals to grow personally and professionally. A mentor can provide guidance, feedback and support in helping individuals to grow. This can improve confidence, motivation and job satisfaction.

Good for employees, better for business

Third, mentoring can also help in expand professional networks and make valuable connections. A mentor can introduce individuals to other professionals in their field, providing opportunities to learn, collaborate and grow. This can be especially valuable for SMEs since they may not have the same level of visibility as larger companies.

Fourth, it plays an important role in succession planning for SMEs. By identifying and developing the skills of high-potential employees, one can ensure a strong pipeline of talent to take on leadership roles.

Finally, mentoring can foster innovation and creativity within. By bringing together individuals with different perspectives and experiences, mentoring can encourage exchange of ideas and the exploration of new approaches.

In an SME, decisions are taken quickly and connections between people are strong. Most people know and would have met the senior leaders in the company. Mentorship already exists in an informal way. Rather than leaving it to chance, one should institute a structured mentorship programme.

Mentors can be from outside the organisation as well, particularly for smaller companies. Retired employees are a good bet too. These mentors come mostly pro bono or for a token amount because they want to give back and see value in grooming others. They can also be subject experts.

What the mentors should not do is attempt to solve the mentee’s problems. They are enablers and should not spoon feed or force options. This is easier said than done because the temptation to create a clone is difficult to resist.

The mentees get to learn from the mentor’s experiences and receive insights on how they can refine their personal and professional goals. They also learn to confront and overcome career challenges. With an ongoing programme, they receive feedback on ideas, plans and projects, and enhance their knowledge base.

A mentoring programme in an organisation typically follows a structured approach to ensure that both the mentor and the mentee receive the maximum benefit from it. The details of the programme may vary but here is a basic structure for SMEs to implement this vital tool:

1 Programme’s objectives: The organisation should have a clear understanding of why they are implementing a mentoring initiative and what they hope to achieve through it. This could include developing talent, improving retention rates, enhancing diversity and inclusion, and fostering a positive culture of learning and development.

2 Mentor and mentee selection: The organisation should identify potential mentors and mentees who meet specific criteria such as experience, skills and cultural fit. The organisation should also ensure that the mentor and the mentee match each other and have a rapport.

3 Training and orientation: An SME should provide training and orientation to both the mentor and the mentee. The mentor should be trained in effective mentoring techniques, while the mentee should be trained on how to make the most out of the mentoring relationship.

4 Goal setting: The mentor and the mentee should work together to set clear and achievable goals that align with the SME’s objectives. These goals should be measurable and time-bound so that progress is tracked and documented.

5 Regular meetings: The mentor and mentee should hold regular meetings for feedback and to adjust goals, as needed. The frequency of these meetings will depend on the needs of the mentor and the mentee but they should be held at least once a month.

6 Evaluation and feedback: SME leaders should evaluate the effectiveness of the programme regularly and ask for feedback from mentors as well as mentees. This feedback should be used to refine the programme to ensure it meets organisational goals.

By following a structured approach, SMEs can ensure that its mentoring programme contributes to the development and growth of its employees.

M Muneer is the managing director of CustomerLab Solutions, a consulting firm.
Gayatri Krishnamurthy is a senior HR expert and leadership coach.
first published: Mar 29, 2023 06:06 am