The latest statistics on the benefits of mentorship for both mentors and mentees
Mentorship benefits both mentors and mentees, so we have collated the results of studies that confirms this hypothesis.
Research shows that 76% of people think mentors are important. However, only 37% of people currently have one. Furthermore, of those people who have a mentor, 81% said their mentor works in the same industry as they do and 61% stated that their mentor works at the same organization. These statistics show limited accessibility to mentors, and a general lack of access to diverse perspectives. Take a look at the statistics below to see how mentorship helps just about anyone.
How Mentorship Affects Mentees:
- 87% of mentees feel empowered by their mentoring relationships and have developed greater confidence. (Source)
- 90% of employees who have a career mentor are happy at work. (Source)
Research also shows:
- Mentees were more than 20% more likely to have gotten a raise than people who didn’t participate in the mentoring program at all.
- 25% of mentees got a raise at their workplace.
- Employees who received mentoring were promoted 5 times more often than people who didn’t have mentors.
How Mentorship Affects Mentors:
- 87% of mentors feel empowered by their mentoring relationships and have developed greater confidence. (Source)
- Individuals who choose to be a mentor or a coach are more likely to benefit from their own skills. 57% expand their skill sets (versus 40% of non-mentors); 41% are more likely to pick up tasks they don’t like to do (versus 26% of non-mentors); 43% expand their knowledge of their customer base (versus 26% of non-mentors), and 30% expand their knowledge of potential new customers or market segments (versus 19% of non-mentors). (Coqual)
- Leaders who sponsor or mentor others are twice as likely to be aware of junior-level colleagues’ concerns. (Coqual)
A study goes on to find that:
- Mentors were more than 20% more likely to have gotten a raise than people who didn’t participate in the mentoring program at all.
- 28% of mentors received a raise at work.
- Mentors were 6 times more likely to be promoted at work than their counterparts.
How Mentorship Affects Gen Z and Millennial Generations:
A Deloitte study shows:
- 68% of millennials who stay at their organization for 5 or more years have a mentor, compared to just 32% of those without a mentor.
- 94% of millennials believe their mentor provides them with good advice.
- 91% of millennials say their mentor is interested in their personal development.
- 61% of millennials have a mentor.
- 64% of millennials say personal values have the greatest influence on their decision making.
- 83% of millennials are satisfied with mentoring.
The Gen Z population reports:
- 73% said they are motivated to do a better job when they feel that their supervisor cares about them.
- 82% said they would prefer to work under a boss who cares about them and can relate to them on issues beyond work.
- Only 38% have someone who models positive actions for a successful life.
86% say it is important that current or future bosses or supervisors offer them opportunities to grow.
Mentorship and women in the workforce
- 38% of senior-level women currently mentor or sponsor one or more women of color, compared to only 23% of senior-level men. (Source)
- 65% of women who have been mentored will go on to become mentors themselves, thus perpetuating the positive mentorship cycle for women. (Source)
- Improving gender balance in the workplace could have added an additional $12 trillion to global GDP from 2015 to 2025. (Source)
One study shows the following findings:
- Only 6% of Fortune 500 companies have a woman as CEO. The women who do make it to the C-suite have one main thing in common: They are products of mentoring.
- 67% of women rate mentorship as highly important in career advancement.
- 63% of women have never had a formal mentor.
- 3 out of 4 women who work for a company with a formal mentoring program reported they always accept mentoring opportunities.
As you can see, the benefits of mentorship are numerous. However, accessibility hinders the opportunity to reap these benefits for everyone. This is where You2Mentor can help bridge the gap by providing a platform to connect with individuals you otherwise would not have for your individual development.
It is also worth noting that mentoring is currently geared towards high-income or developed countries, and it is largely regarded as a luxury for low-and middle-income countries (LMIC). It would be plausible to assume that LMIC’s would reap the same benefits once the mentorship practices are more widely accepted, but only time will tell.