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ANCIENT PRACTICE MEETS BUSINESS NEEDS OF TODAY AND TOMORROW |
| 06.01.2006 |
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Society for Human Resouces Management
June 2006 Newsletter
Corporations have invested millions of dollars on initiatives designed to reduce costs and increase profitability. Some come with interesting names such as quality circles or participative management. However, one particular program, rooted in a centuries-old value and practice, can yield benefits beyond measure above other business approaches when properly implemented.
In cultures throughout the world, the concept of respecting one's elders has played an integral role in the shaping of their societies. For Asian cultures, respecting and revering ancestors and elders is a particularly dominant theme, owing to the philosophy of Confucius (551-479BC), the Chinese philosopher and teacher who developed this ethical code. However, this was also a reciprocal relationship, where the elder saw to the well-being of those to whom he was responsible.
Reverence for someone older or more senior is a value that flourishes in Hawaii’s culture. Whether the relationship is parent-child, elder sibling-younger sibling, teacher-student, or manager-employee, we have been taught to respect those who have more experience and knowledge than ourselves. This relationship is in effect a mentor relationship, as the protégé looked to a mentor for support, guidance, protection, coaching, and the sharing of their experience and knowledge.
While mentoring is by no means a new concept, it is relatively new in business. Jack Welch, as the new head for General Electric, instituted a formal mentoring program in the 1970s where experienced company veterans took new employees under their wing. Little did he know that this would be recognized as one of the forward-thinking initiatives that would make him one of the world’s most productive and highly paid CEOs. The formula was simple and it worked: link up people with skills and experience with those who had less, create an atmosphere of trust, allow an easy flow of communication and watch as new ideas and conversations increased profits.
Although informal mentoring continues to be very prevalent in the business world, more and more companies are experiencing the measurable benefits of formal mentoring programs. Mentoring has become a strategic approach to addressing the challenges of employee recruitment and retention, succession planning, diversity, and transfer of important tacit knowledge. According to a survey conducted by Business Finance Magazine in 2000, over 70 percent of Fortune 500 and private companies used mentoring in their organization as a strategy that improved both retention and employee performance.
The value of mentoring in business has also played a vital role in enabling an individual to realize the dream of business excellence. In a poll conducted by the American Society for Training and Development, 75 percent of executives stated that mentoring played a key role in their career success. Mentoring provides an open, trusting, and confidential partnership with a mentor, allowing a protégé to learn new skills, build their confidence level, practice new behaviors, expand networks, and take on new opportunities to advance their position and career.
Although traditional mentoring relationships are still preferred, mentoring today continues to evolve with advancing technology. Online, or virtual, mentoring, is a growing trend that replicates the traditional mentoring model by enabling mentors and protégés to communicate via email, text messaging, and even video. Also called “tele-mentoring,” this system allows mentors and protégés to go back and forth, track their progress and build on their relationship, all in a secure, password-protected environment where both can communicate freely. Advancing technology has also diminished barriers or limitations to establishing a mentoring relationship. Global mentoring is now possible, no matter the size of a company, number of locations, or distance. Protégés and mentors have access to each other anytime, anywhere in the world.
Mentoring in business continues to evolve as the needs of individuals and organizations change. What remains constant, though, is the transfer of knowledge from one generation to another, and the respect for those individuals passing on their wisdom. By becoming a mentor or protégé, one continues to carry on Confucius’ ideal of filial piety. It is a tradition which not only benefits oneself, but others as well.
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