Why Can't Companies Get Mentorship Programs Right?

It’s hard, and expensive, to find and retain good employees; conservative estimates place the average cost to recruit and train a new employee at half an employee’s salary.

With that in mind, it’s no surprise that companies are willing to try all sorts of things to make sure people stick around. One thing lots of companies have tried is establishing corporate mentorship programs, in which newer employees are paired up with veterans who can show them the way. Evidence suggests they bolster recruiting, boost employee engagement, help train future company leadership, increase diversity, and raise rates of worker loyalty and retention, and , by researchers at University of California-Santa Cruz, estimated that an investment in mentoring programs for new teachers returned $1.50 for every $1 spent, after taking into account how much less money was spent on credentialing teachers and how much better students performed.