Trends and Insights
Mentoring Your Way to a More Inclusive Workplace Creating Formal Program Key to Achieving Measurable Success Eileen Monesson
Like many industries, the performing organizations recognize the aim of diversity is not just meeting accounting profession compliance targets but tapping into the reflects the longstanding diverse perspectives and approaches each individual brings to the workplace. American legacy of the The Case for Mentorship “old boy network.” In Understanding the Return on Investment Most firms continue to be led by Caucasian men, and some have no women or people of color in leadership at all. But the diversity, equity and inclusion (DEI) movement is gaining steam in the accounting profession. Deloitte’s study From Diversity to Inclusion says that even though diversity programs have been around for decades, most companies still do not have a highly inclusive workplace. Deloitte’s research revealed companies want to shift from diversity as a program to diversity and inclusion as a business strategy. High-
in Workplace Mentoring Initiatives, a whitepaper by Twomentor, Julie Kantor, founder and CEO, explains “mentoring breaks down the walls between us. Mentoring programs are critical for promoting diversity and inclusion efforts. Mentoring helps employees develop a sense of belonging, supports traditionally underrepresented groups, increases promotion rates, improves retention rates, and fosters understanding between cultural groups.”
Another study, Why Diversity Programs Fail, by Harvard University’s Frank Dobbin and Alexandra Kalev, analyzed the impact of mentoring, voluntary training, self-managed teams, crosstraining, college recruitment, diversity task forces and diversity managers on the representation of African-American, Hispanic and Asian men and women at the manager level. The researchers found mentoring had the largest impact of all strategies, resulting in an increase of representation of minorities at the manager level by 9% to 24%.
2. Development of a diverse leadership pipeline
“Too often, informal mentorship is not diverse mentorship,” Kantor said. “Unfortunately, when many people reach out to mentor informally, they reach out to people in their own likeness. Formal mentoring programs prevent this from happening by training mentors and mentees, focusing on advantageous mentor matches, offering support to mentors and mentees, driving engagement with regular communication and providing an official mentor action guide, tools, networking and booster events.”
3. Enhanced manager success and improved succession planning
Potential Roadblocks
Deloitte found retention was 25% higher for employees who engaged in company
Top 6 Benefits of Mentoring 1. More skilled and prepared workforce
4. Significantly higher retention rates, especially for millennials 5. Increased employee engagement and commitment 6. Happier and more inclusive workplace culture Source: Twomentor
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sponsored mentorship.
Growth Strategies Vol 9 • Issue 4
Lean In, a nonprofit founded by Facebook’s Sheryl Sandberg, disclosed in Men, Commit to Mentor Women, published in March 2019, that one in six male managers feel uncomfortable mentoring women. Lean In also found that 60% of male managers