Accenture, a global management consulting, technology services and outsourcing company, conducted a study of 322 middle managers in the U.S. in September 2008. According to the study, nearly two-thirds of the middle
managers surveyed say that the economy is having a negative impact on their work environments. Sixty-one percent claim their employees are concerned about job loss and morale is down. Fifty-three percent are either dissatisfied or somewhat dissatisfied with their jobs. While dissatisfaction is high, only 13% of those surveyed are looking for jobs and nearly half (46%) believe that switching jobs in a down economy is r
isky.
So what can a company do? While it might not seem like the right time to make an investment in mentoring, here are six reasons why com
panies should reconsider this stance.
1, Talent is always in demand. The economy may be in bad shape, but the only way to stay afloat is to have the talent to ride out the storm. Investing in your talent now is one more step you can take to avoid watching your company sink later.
4. Mentoring’s low-cost factor (it usually costs more to replace an employee than it does to implement a mentoring program) makes it a smart option, even in a down economy. And consider this: a mentoring program affects at least 40 or more people at one time.
5. In down times, we have to cut back on luxuries, but are your employees a luxury or the core of your business? Your employees will be more than willing to work harder and smarter if they feel you are willing to invest in them and their careers through a mentoring program.
6. When in troubled waters, don’t throw the crew overboard. Yes, you need be mindful of your budget and you need to create a long-term plan to keep the company healthy and viable, but it’s your employees who will be executing the plan. Mentoring can help bring your employees together so that they feel more connected as a team working on the single goal of getting the ship to right its course for the future.