Many companies struggle with generational change and talent retention in leadership development. UNC Kenan-Flagler Business School’s Horace McCormick argues that mentoring done well can be a part of the solution in a White Paper, ‘How to Launch a Successful and Sustainable Mentorship Program’.
Mentoring is a strategic tool that when done right, can attract and retain high-potential talent and accelerate leadership development and readiness. Mentoring is also an effective tool for shaping organisational culture and closing engagement and generational gaps. Employers are increasingly recognising the benefits of mentoring in leadership development. According to a Corporate Executive Board survey, 25 percent of US companies now host peer-mentoring programs, a significant increase from before the 2007 recession, when only 4 to 5 percent of US companies reported sponsoring mentorship programs.