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HRMAJ CONFERENCE 2010

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MENTORING: PROVIDING A HIGH RETURN ON LEADERSHIP INVESTMENT

Presentation by Canute S. Thompson, Ph.D.

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IN THIS PRESENTATION WE WILL…

  • DRAW ON OUR EXPERIENCES IN ADDRESSING H/R PROBLEMS
  • REVIEW DEFINITIONS OF MENTORING AND THE CHARACTERISTICS OF THE MENTORING RELATIONSHIP
  • EXAMINE FACTORS THAT GIVE RISE TO THE NEED FOR MENTORING
  • SUGGEST WAYS OF MEASURING ROI FROM MENTORING
  • SURVEY WAYS FOR SETTING UP MENTORING PROGRAMMES – BACK AT HOME!

Presentation by Canute S. Thompson, Ph.D.

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DRAWING ON EXPERIENCE-DRESS REHEARSAL

  • GROUP ACTIVITY
  • DIVIDE THE PARTICIPANTS INTO FIVE GROUPS AND HAVE THEM DISCUSS HOW THEY WOULD PLACE A UNIT COST ON THE FOLLOWING HR PROCESSES AND EXPERIENCES
    • EMPLOYEE RETENTION
    • EMPLOYEE TRAINING
    • LOST TIME OCCURENCES (e.g. workplace disputes)
    • DAYS LOST TO OHS INCIDENTS
    • A MENTORING PROGRAMME

(see some examples of cost drivers below)

Presentation by Canute S. Thompson, Ph.D.

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SOME COSTS RELATED TO EMPLOYEE RETENTION

    • Advertizing Costs $
    • Cost to process application$
    • Interviewing Costs $
    • Cost associated with selection $
    • Cost of training $
    • Employee benefits

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    • CONSIDER
      • Period required to recover that cost (e.g.2 years)

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Presentation by Canute S. Thompson, Ph.D.

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GROUP ACTIVITY

  • RECEIVE BRIEF FEEDBACK ON EXPERIENCE OF DOING THE ACTIVITY

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  • ASK PARTICIPANTS TO RETAIN OUTPUTS FOR USE LATER

Presentation by Canute S. Thompson, Ph.D.

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DEFINING MENTORING

  • TRADITIONAL DEFINITIONS
    • MENTORING IS A STRUCTURED ONE-TO-ONE RELATIONSHIP OR PARTNERSHIP THAT FOCUSES ON THE NEEDS OF THE MENTORED PARTICIPANT.
    • MENTORING IS A SUPPORTIVE RELATIONSHIP SUSTAINED OVER A PERIOD OF TIME, USUALLY BETWEEN A NOVICE AND AN EXPERT.

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Presentation by Canute S. Thompson, Ph.D.

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A TRANSFORMATIONAL DEFINITION

  • MENTORING IS AN OUTCOMES-BASED, SUPPORTIVE AND CARING RELATIONSHIP IN WHICH AN EXPERIENCED PROFESSIONAL SEEKS TO FACILITATE THE DEVELOPMENT OF THE COMPETENCIES OF A LESS-EXPERIENCED PROFESSIONALS IN ORDER THE LATTER MAY BE BETTER ABLE TO SERVE THE NEEDS OF THE ORGANIZATION AND IN THE PROCESS EXPERIENCE PERSONAL GROWTH AND TRANSFORMATION.

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Presentation by Canute S. Thompson, Ph.D.

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COMPARISONS

  • DISCUSS DIFFERENCES BETWEEN THE TRADITIONAL DEFINITIONS AND THE TRANSFORMATIONAL DEFINITION
    • OUTCOMES-BASED VS STRUCTURED
    • LESS-EXPERIENCED VS NOVICE
    • MORE EXPERIENCED VS EXPERT
    • NEEDS OF ORGANIZATIONS
    • PERSONAL GROWTH AND TRANSFORMATION

Presentation by Canute S. Thompson, Ph.D.

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CHARACTERISTICS OF THE MENTORING RELATIONSHIP

  • FOSTERS CARING AND SUPPORTIVE RELATIONSHIPS
  • ENCOURAGES INDIVIDUALS TO DEVELOP TO THEIR FULL POTENTIAL
  • HELPS AN INDIVIDUAL TO DEVELOP HIS/HER VISION FOR THE FUTURE
  • HELPS DEVELOP ACTIVE COMMUNITY PARTNERSHIPS
  • BREAKS DOWN OLD BARRIERS

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Presentation by Canute S. Thompson, Ph.D.

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WHAT MENTORSHIP DOES

  • MENTORING ASSURES THE TRANSFER OF TECHNICAL KNOWLEDGE, THE COMMUNICATION OF ORGANIZATIONAL VALUES, THE BUILDING OF STRONG RELATIONSHIPS, AND THE PROVISION OF MEANS FOR DEVELOPING LEADERSHIP TALENT IN THE ORGANIZATION
  • Mentoring is a strategy for forestalling and preventing the loss of promising employees and the attendant loss of investment in the recruitment and training of those employees.

Presentation by Canute S. Thompson, Ph.D.

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BENEFITS OF MENTORING

  • Mentees are able to learn from someone who has travelled the path before them
  • Mentors have an opportunity to invest themselves in someone who seeks what they can offer
  • Councils can share and spread their acquired learning and know-how
  • Mentoring also helps the community by encouraging an environment where people motivate each other and work together to improve skills and knowledge

Presentation by Canute S. Thompson, Ph.D.

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FACTORS THAT GIVE RISE TO THE NEED FOR MENTORING

  • UNACCEPTABLE LEVELS OF PROFITABILITY
  • DECREASES IN REVENUE
  • DIFFICULTIES IN CUSTOMER RETENTION
  • THE NEED FOR EXPANSION OF PRODUCTS OR SERVICES PROVIDED
  • LOW LEVELS CUSTOMER SERVICE SATISFACTION
  • PRODUCT QUALITY
  • LOW LEVELS EMPLOYEE ENGAGEMENT AND LOYALTY
  • DIFFICULTIES IN ATTRACTING AND RETAINING STUDENTS
  • SLOW RATE OF COMPLETION RATES FOR GRADUATION FROM ACADEMIC PROGRAMMES

Presentation by Canute S. Thompson, Ph.D.

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OTHER FACTORS THAT COULD BE ADDRESSED VIA MENTORING - 2

  • THE NEED FOR REDUCTION IN:
  • RECRUITMENT COSTS
  • TRAINING COSTS
  • TIME LOST IN RESOLVING DISPUTES
  • ABSENTEEISM
  • GOOD WILL LOST THROUGH CUSTOMER DISSATISFACTION
  • EMPLOYEE LOYALTY LOST THROUGH UNMET NEEDS

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Presentation by Canute S. Thompson, Ph.D.

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MEASURING RETURN ON INVESTMENT

  • MENTEES - THE DEVELOPMENT SKILLS AND KNOWLEDGE AND HOW THIS DIRECTLY IMPACTS ON PRODUCTIVITY.
  • MENTORS - SHARING OF KNOWLEDGE AND EXPERTISE AND HOW THIS IMPACTS EFFICIENCY, PRODUCTIVITY AND PROFITABILITY
  • THE ORGANIZATION – THE RETENTION AND ATTRACTING TALENT, SAVING ON TRAINING AND DEVELOPMENT COST, AND CREATING A COMPETITIVE AND INNOVATIVE WORK ENVIRONMENT

Presentation by Canute S. Thompson, Ph.D.

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BUILDING CAPACITY FOR USING MENTORING TO ENSURE ROI

  • PARTICIPANTS TO RECONVENE IN THEIR SMALL GROUPS FROM THE FIRST ACTIVITY
  • MEMBERRS OF THE “MENTORING PROGRAMME” GROUP TO BE ASSIGNED INDIVIDUALLY AS CONSULTANTS TO EACH GROUP
  • EACH GROUP TO DEVELOP AND COST A PROGRAMME TO ADDRESS EACH OF THE FOUR PROBLEMS WITH THE OBJECTIVE OF SHOWING HOW MENTORING COULD PRODUCE A VALUABLE ROI

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Presentation by Canute S. Thompson, Ph.D.

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MEASURING THE IMPACT OF MENTORING

  • Step 1- Calculate the total cost to implement and run a mentoring program – USE FIGURE PROVIDED BY YOUR CONSULTANT.
  • Step 2 - Determine the current level of spending associated with your ROI target (USE FIGURE FROM YOUR FIRST ACTIVITY).
  • Step 3 - Multiply the amount in Step 2 by the volume of activity each year, e.g. the number of employees that leave the company each year (retention), # trained each year (training) .
  • Step 4 – Subtract Step 1 (the original investment) from “3” (your turnover rate).
  • Step 5 - Divide Step “4” by Step “1” and multiply by 100 to determine the ROI percentage.

Presentation by Canute S. Thompson, Ph.D.

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QUALITATIVE EVALUATIONS OF A MENTORSHIP PROGRAM

  • ASK PARTICIPANTS TO LIST SOME OF THE QUALITATIVE MEASURES THEY WOULD USE TO MEASURE THE EFFECTIVENESS OF A MENTORSHIP PROGRAMME
  • DISCUSS THESE CRITERIA

Presentation by Canute S. Thompson, Ph.D.

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SUMMARY

  • ASK PARTICIPANTS TO REFLECT ON THE FOLLOWING:
    • WHAT FACTORS WOULD YOU CONSIDER IN SETTING UP A MENTORSHIP PROGRAMME
    • HOW WOULD YOU ‘SELL’ A MENTORING PROGRAMME TO TOP MANAGEMENT AS A VALUE-ADDED INITIATIVE

Presentation by Canute S. Thompson, Ph.D.

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