A whitepaper published by leading mentoring and career progression platform, PushFar, and Sheridan Worldwide, a coaching and leadership consultancy, states that a huge 9 in 10 workers who have a mentor feel happier within their careers. The data also revealed 7 out of 10 individuals saw benefits such as improved work performance, relationships, and communication skills as a result of coaching.
The question is, do you need a coach or a mentor, and what is the difference?
The main difference between mentoring and coaching is the time period and structure to the relationships. Mentoring is designed to be a long-term programme, usually lasting a minimum of 6 months, but potentially lasting for years, whereas, coaching is often, but not limited to, shorter-term.
Mentoring is more self-led, with the mentor guiding the mentee in the right direction, whereas coaching is more dictated and structured. Which one is best, depends on the individual and their needs. For example, if you like a sense of clear direction and focus, then mentoring’s more directive style is probably for you. However, if you are very performance-driven and thrive off hitting goals within a timeline, then coaching could be the best option.
The rise of both mentoring and coaching is undeniable, and this is only set to continue to grow. Research from LinkedIn* reveals that 94% of employees would be more inclined to stay in their role if they felt their career was invested in.
It is clear to see that employees want to feel valued and that their long-term progression is considered by employers, and mentoring is the ideal tool for this. Organisations that provide a strong and effective onboarding experience improve new hire retention by a massive 82% with an impressive 70% improvement in productivity.
The latest generation to enter the workplace, Gen Z, are further proving the value of mentoring, as recent data shows 3 in 4 within this generation are likely to switch career paths entirely to find a role that suits their values or provides an opportunity to develop their skills.
This means that businesses in 2024 need to incorporate mentoring programmes to ensure they keep Gen Z employees engaged and prove they are committed to investing in their progression.
CEO & Co-Founder of PushFar, Ed Johnson, commented: “There is so much data out there that shows the importance of both mentoring and coaching. We are moving in a direction where these services will be expected to be incorporated into all businesses onboarding of employees and made available throughout their time there.
The benefits are undeniable and there is so much personal development and growth that come as a result of engaging with mentoring and coaching.”
If you would like to find out more about mentoring versus coaching, you can visit the research white paper for free at: https://www.pushfar.com/mentoring-and-coaching-whitepaper/