Mentoring, when done well, is a proven tool for engagement and retention, yet it’s often underutilized, overlooked, or poorly communicated. In our compliance profession, many folks hold themselves out as mentors. The ladies of Great Women in Compliance, both the founders Lisa Fine and Mary Shirley and the current crew, including Hemma Lomax, Sarah Hadden and Ellen Hunt, all are mentors in compliance. Nick and Gio Gallo are two that immediately come to find as well.
But what about inside the corporate world? What can compliance professionals and business leaders do to transform them into impactful retention strategies? Although 98% of Fortune 500 companies have mentoring programs, only 37% of professionals actually benefit from them. Why are mentoring programs failing to deliver on their promise? In a recent HBR article entitled, Why Mentoring Programs Fail — and How to Make Them Worthwhile, authors Andy Lopata, Ben Afia, and Ruth Gotian looked at this question.
They found that issue lies not with mentoring itself but in the underutilization and ineffective reach of many mentoring programs. Programs are frequently confined to a small group of employees or lack the communication and visibility to attract participation. Many potential mentors might be too overwhelmed with their own workloads to commit to meaningful mentorship, leading to a cycle of under-engagement. The authors have developed strategies for corporations, and I have adapted their work for mentoring in the compliance profession.
The Underutilization Problem: A Disconnect in Awareness and Access
The issue is not in mentoring itself. Studies consistently show its ability to boost productivity, engagement, and employee satisfaction. The real problem lies in underutilization and visibility. Many mentoring programs are confined to select groups, poorly communicated, or lack structure. The problems include employees are unaware these programs exist or how to access them. Often, potential mentors are overwhelmed with their own workloads and hesitate to commit. Finally, the benefits of mentorship are poorly communicated, leading to disinterest.
Yet as the authors report, there is good news. “These are solvable problems.”
Tailoring Communication: Meet Employees Where They Are
The manner in which mentoring programs are communicated makes all the difference. A generic, top-down announcement simply will not resonate in today’s workplace. Employees, particularly Millennials and GenZers, want personalization. They see themselves as consumers of workplace experiences, choosing opportunities that align with their needs and goals.
To engage employees, communication about mentoring programs must reflect these preferences. Think of it as marketing an opportunity to your internal audience. Here’s how you can reframe communication to connect with different employee motivations:
- Highlight Practical Benefits. This means to focus on what is in it for them. Spell out how mentoring will advance their careers, help them gain new skills, or open doors to leadership opportunities. Employees need to see tangible outcomes to care.
- Align with Organizational Values. This is a great opportunity to connect mentoring to your company’s broader culture and mission. If mentorship ties into your long-term organizational goals, employees seeking alignment with corporate values will feel inspired to take part.
- Promote Personal and Professional Growth. Many employees want opportunities to grow, not just professionally, but personally. Position mentoring as a tool for achieving long-term career aspirations and self-improvement. The bottom line is that by tailoring your communication to individual preferences, you create a more interesting invitation to take part.
The Power of Storytelling: Making Mentorship Tangible
Most compliance professionals do not connect storytelling and mentorship. Yet for most people, data and directives rarely inspire action. Storytelling can move people. Companies can make mentoring programs more engaging by spotlighting genuine success stories of employees whose careers were transformed through mentoring.
Storytelling works for several reasons. First, it humanizes the benefits of mentoring. Employees see themselves in others’ experiences. Next, it creates aspiration. Hearing how someone else achieved success makes the program feel attainable. Finally, it provides proof of impact. Employees are more likely to believe in a program if they see results.
There are multiple approaches to storytelling in mentoring. They include the sharing of video testimonials from mentors and mentees. You can feature mentoring success stories in newsletters and town halls. Overall, company culture will be move forward through the celebration of mentorship milestones, such as promotions or achievements to your organization. Most importantly, instead of a vague announcement about the “importance of mentoring,” show what mentoring achieves for real people. That is certainly a way you inspire participation.
Senior Leadership: Champions of Mentoring
As with almost everything else in an organization, from the good to the bad to the ugly, it is all about Tone at the Top. Senior management plays a vital role in elevating mentoring programs from “nice to have” to “essential.” Leadership advocacy does not stop at approving a program, it requires active, ongoing engagement. How can senior management walk the walk of mentorship? Senior management can amplify mentoring initiatives by sharing their own experiences as mentees or mentors. They can speak regularly about the benefits of mentoring in meetings or company-wide addresses. They can work to publicly recognizing successes that emerge from mentoring partnerships. Finally, they can serve as mentors themselves to show their commitment. When senior management champions mentoring, they send a clear message: mentoring is integral to organizational success, not a box to check. This visibility encourages participation at every level of the company.
Expanding Access: Inclusion Drives Engagement
Traditionally, mentoring programs have been reserved for “high potential” employees or leadership tracks, leaving large portions of the workforce underserved. Limiting access undermines both employee engagement and retention. A truly impactful mentoring program must be inclusive and accessible to all employees. Broaden your access by making mentoring part of your performance management. Make sure that you address the burden on senior mentors while expanding access to guidance. When access is equitable, mentoring becomes a tool for company-wide development, fostering a culture of growth and support.
Employee Acquisition and Retention: Mentoring as a Cornerstone
In a job market where talent is constantly on the move, attracting top talent is a competitive advantage. Mentoring, when thoughtfully implemented, delivers measurable outcomes; higher productivity, increased loyalty, and a more engaged workforce. For compliance professionals, the lesson is clear: mentorship programs are not just another box to check. They are a strategic tool for building a resilient, motivated, and loyal workforce. By addressing common barriers and rethinking your approach to mentoring, you can transform these programs into powerful engines of retention. Your employees are not simply a 9 to 5 job; they are seeking for opportunities to grow, succeed, and thrive. By harnessing the full potential of mentoring, you meet that need and, in doing so, secure your organization’s future.
Transforming your mentoring program into a true retention driver requires a mindset shift. Mentoring cannot be treated as an HR initiative; it must become a fundamental part of your organizational culture. Use strategic communication with targeted, employee-centric messaging. Share inspiring narratives that highlight mentoring’s tangible impact.
Engage senior leaders as champions and active participants. Expand mentoring to include everyone, not just select groups. When mentoring is integrated into your culture, its benefits compound higher employee satisfaction, greater engagement, and stronger retention.
In a job market where talent is constantly on the move, attracting top talent is a competitive advantage. Mentoring, when thoughtfully implemented, delivers measurable outcomes; higher productivity, increased loyalty, and a more engaged workforce. For compliance professionals, the lesson is clear: mentorship programs are not just another box to check. They are a strategic tool for building a resilient, motivated, and loyal workforce. By addressing common barriers and rethinking your approach to mentoring, you can transform these programs into powerful engines of retention. Your employees are not simply a 9 to 5 job; they are seeking for opportunities to grow, succeed, and thrive. By harnessing the full potential of mentoring, you meet that need and, in doing so, secure your organization’s future.
