The dictionary definition of ‘mentoring’ is an experienced and trusted adviser’.In business, mentoring has extensive knowledge of the particular area of the business. He/she should have provided right strategy for your business. Research carried out by the Federation of Small Businesses has shown that 70% of small businesses that receive mentoring survive for five years or more; double the rate compared with non-mentored.Also, 20% of mentored businesses are more likely to experience growth.
WHEN DO YOU NEED A MENTOR?
There are some time when mentoring is essential. Here is it, when your company wants to:
Advance its leaders or talent pool for the succession plan.
To achieve success, it develop its diversity to remove barrier.
To acquire additional skills and competencies as part of progression
To balance workforce as professional and personal
Coaching focuses on high performance and improvement at work.Generally, it targets specific goals and skills rather than personal attributes and long-term development.
TYPES OF COACHING
Executive Coaching – one -to – one for performance
Work Shadowing – immediate feedback on behaviours.
Career coaching – which path may be suited to you and how to take solid steps forward.
skills coaching- Targets any specific skill sets.
Team coaching – group work that helps to build confidence.