'Can Companies Use Mentoring to Increase Employee Retention? Essay\r'

'All businesses, from an entrepreneurial start up to an naturalised troupe, need instructing. The entrepreneurs of those companies require mentoring as well. A mentor croup help a fellow look develop important business skills, support them in making important c arer and life decisions and draw them in touch with needed network contacts. The utilisation of my report is to analyze the results of putting a mentoring computer program in place in a company and why it can reap rewards for the employees and the system. The key varying that I will be focusing on is employee retention since â€Å"SHRM, the Society for Human Resource Management, estimated that it be $3,500.00 to replace one $8.00 per hour employee when all cost †recruiting, interviewing, hiring, training, reduced productivity, et cetera, were considered” (Blake 2006). Imagine the cost to the company when considering a $40,000 a year corporate employee!\r\n(DegreeSearch.org)\r\nMentoring can be an influent ial tool in familiarizing employees to an organization’s culture and help them grow in their jobs. It can be tremendously valuable to take away someone who has your best interests at heart and can explain the facts of your corporate culture and offer cute advice. Informal mentoring has been going on continually, but companies are increasingly identifying that formal mentoring programs can provide significant benefits for both the employee and the organization. Positive benefits include is statistical evolution in employee retention, growth and satisfaction. The focus of my analysis was the ontogeny in employee retention vs.\r\nArticles:\r\nBlake, Rose. Employee Retention: What Employee Turnover unfeignedly Costs Your Company. WebProNews. July 24, 2006. Bridgeford, Lydell. Mentoring Programs Still Have a enter in the 21st Century. Employee Benefit News, August 1, 2007 merged Leadership Council. (2005). Mentoring: From Theory to Action. Corporate Leadership Council, 18. DegreeSearch.org (2011), Mentors sham a Difference Infographic. Dunnett, R. (2012). Mentoring matters. Director\r\n(00123242), 65(6), 50-53. LESTER, P. B., HANNAH, S. T., HARMS, P. D., VOGELGESANG, G. R., & adenosine monophosphate; AVOLIO, B. J. (2011). Mentoring tinct on Leader Efficacy Development: A Field Experiment. Academy Of Management Learning & group A; Education, 10(3), 409-429. Miloff, M., & Zachary, L. J. (2012). Mentoring to Develop Strategic Leaders. T+D, 66(4), 102-104. Offstein, E. H., Shah, A. J., & Gnyawali, D. R. (2011). Effects of CEO-BOD Mentoring on Firm Competitive Behavior. brush up Of Business, 32(1), 75-88.\r\n'