Unlocking the Competitive Advantage of Mentoring

Transcription

1 Session #405 Unlocking the Competitive Advantage of Mentoring Ann Tardy, President of LifeMoxie Mentoring #ACCE13 icmi.com Unlocking the Competitive Advantage of Mentoring Ann Tardy President of LifeMoxie Mentoring 2 1

2 Agenda Expanding our Idea of Mentoring Making the Case for Mentoring Making Mentoring Matter Strategic Mentoring Framework Case Study Next Steps & Resources 3 If I have seen further than others it is by standing on the shoulders of giants. ~ Isaac Newton 4 2

3 Expanding our Idea of Mentoring 5 People who accidentally influence us People who intentionally contribute to us collegiality mentoring 6 3

4 Observes Protégé and provides objective feedback Shares knowledge, wisdom, & lessons learned Mentoring occurs when one person (the Mentor) Tells war stories Exposes Protégé to new ideas, approaches Offers advice and resources 7 The Everyday Faces of Mentoring Work group Task force Peer advice Quick exchange of information Role models Group mentoring Project advisors New buddy Job shadowing Advisory board 8 4

5 Making the Case for Mentoring 9 The Stats As little as 15% of learning from traditional classroom style training results in sustained behavioral change within the workplace. [S. Cromwell & J. Kolb 2004] Mentoring of middle leaders increased the internal promotion of talent from 35% to 73%. [Source: Memorial Care Medical Centers Mentoring Program] 75% of executives credit mentoring with playing a key role in their careers. [Source: Jeff Barbian, The Road Best Traveled, Training[ 77% of companies report that mentoring is effective in increasing retention and improving performance. [Source: Jeff Barbian, The Road Best Traveled, Training] Retention of employees increased from 55 to 85% when a mentored manager took over a group. [ ROI Monograph Marketing ] 10 5

6 Impact of Mentoring on Development Teach people a theory, 5% will transfer it into practice Teach people a theory + add a demonstration + offer practice + give feedback then 25% will transfer it into practice Now Teach people a theory + demo + practice + feedback + mentoring 11 and 90% will transfer that new skill into practice! 11 How Mentoring accelerates people s success More willing to accept feedback... from someone with whom we have a relationship. We can then listen to their similar experiences and not learn same lessons the hard way

7 Accelerating Success with Mentoring We all want to be better so we set goals So we can accelerate our success in achieving those goals We all believe we are working on achieving those goals So we need someone else to help us see the world (and ourselves) differently But we can t see our own obstacles 13 How? By Engaging in Mentoring Conversations 1.Connecting 2.Navigating 3.Teaching 4.Observing 5. Advising 14 7

8 Making Mentoring Matter 15 Programs that assign responsibility for change and that connect promising management talent with mentors seem to hold the best hope. ~ Frank Dobbin, Harvard University sociologist 16 8

9 Mentoring is either Missed Opportunity Strategic Advantage A Missed Opportunity? Mentoring is happening anyway individually, in groups Informally, formally But What benefit is your org getting from the mentoring? Are people effectively mentoring? How are you capturing metrics and measuring impact? 18 9

10 A Strategic Advantage! Mentoring becomes a strategic advantage when we make mentoring drive business-impacting strategies. We call that Smart Mentoring 19 Strategic Mentoring Framework 20 10

11 The LifeMoxie Strategic Mentoring Model Step 7 Stay relevant and on the radar Step 1 Choose Strategy; Measure it Step 2 Identify and recruit appropriate participants Step 6 Strategically (and regularly) launch Strategic Mentoring Initiatives Step 3 Establish commitment + accountability Step 5 Set people up for success Step 4 Design structures for participating 21 The LifeMoxie Mentoring Effectiveness Test Significance Strategy Simplicity Structure Sustainability Scalability 22 11

12 Case Study 23 Case Study: MPD Manufacturing Plant Department Situation: 60% eligible for retirement in 2013 Leadership roles require college degrees Lack of college-educated talent No time to take advantage of tuition reimbursement Challenge: talent pipeline drying up Solution: in-lieu-of certification program Strategy: Succession Planning + Leadership Dev Tools: Training + Mentoring 24 12

13 Your Turn: Share your Framework Find a Partner Share your own Framework Don t miss the opportunity to peer-mentor each other in the process How? By sharing feedback, observations, experiences, lessons learned, advice, connections to resources Review and Regularly Check for Effectiveness (1) What is your strategy? What is the point of the mentoring program? (2) Who will be the intended participants? (3) What incentives will you rely on? (4) How will you set up Mentors/Protégés for success? (5) Will you ask for feedback? What will you doing with it? (6) How will you keep mentoring relevant and on the radar? (7) Is it Scalable? Sustainable? Simple? Significant? 26 13

14 Next Steps & Resources 27 Next Steps 1. Identify your strategy what kind of change? 2. Look for mentoring in your organization It already exists in some way find it, assess it 3. Identify mentoring-passionate people Your mentoring leaders and champions 4. Explore 7-steps to architecting smart mentoring 5. Draft your Mentoring Plan 6. Pilot it with a few people Ideally look for pre-existing programs/groups hungry for mentoring 7. Launch, assess, course-correct, launch again 28 14

15 The Mentoring Council Join the community of fearless mentoring leaders Mentoring Workshop Webinars Research and best practices in program design, development, administration Quarterly mentoring leader webinars An engaging mentoring forum A monthly Virtual Mentoring Roundtable featuring a Mentoring Leader and his/her active Mentoring Program 29 Ann Tardy, President ann@lifemoxie.com LifeMoxie Mentoring Moxie ( ) 30 15

16 Thank you for attending this session Please complete your session evaluation form #ACCE13 icmi.com