The long-held view of business mentoring is that it involves experienced employees helping younger employees grow in their career. Although this is still an important activity, the perception of mentoring has widened over the years. Today’s rapidly increasing rate of technological advancements means that experienced executives are also in need of advice if they are to keep up to speed.
In a recent survey, almost half of CEOs across 15 industries said they were being challenged by the board to make progress in digital business. Although senior executives can learn specific skills from a coach, they will gain numerous advantages from having a mentor.
Executive mentoring pairs executives and C-suite leaders with seasoned executives who nurture and support their growth over the long term. This helps the mentees in their quest to achieve both short-term and long-term goals.
Why is executive mentoring so important?
The issues that executive mentoring addresses include personal growth, career satisfaction, critical life transitions, preparing for career advancement, and improving leadership skills.
Organisations often think their leaders already possess deep business knowledge and strong leadership and strategic skills. But what if senior executives want to take their career to the next level? What attributes will they need to develop in order to become the next CEO? How can they succeed in that role?
Standard executive training methods do not prepare future leaders for everything that a leadership role demands. Below are a few of the benefits that executive mentoring offers.
1. Building connection
As is often said, it’s lonely at the top. This is a major issue facing all senior executives. Half the CEOs responding to a survey said they suffered feelings of loneliness once installed in the top job. Of those, 61% thought this hindered their performance. This feeling can impact any executive leader — not just CEOs.
In contrast, executives who have meaningful relationships in the workplace feel more engaged, are more productive, and perform better.
Mentoring helps foster connection by creating deeper, more meaningful relationships. The right mentor will understand the mentee’s challenges, recognise their journey, and provide counsel founded on their own experience. For an executive seeking to excel in their role, this contribution is priceless.
Mentors don’t always have to be from within the organisation. In fact, a mentor coming from outside the organisation helps an executive connect to other leaders and learn from them.
2. Providing clarity
Executives who have attained a senior position can easily get overwhelmed by the demands of their roles. Because they are so busy, making time for personal development takes a back seat. And when they do find a moment, they often lack the clarity to decide what kind of development they want and where to begin.
A mentor can help top executives understand their strengths and the areas they need to work on. They can help them to set goals, and work with them to achieve those goals.
Importantly, a newly promoted top executive has to deal with situations that are new to them, and make critical decisions. If they are unclear about the right course of action, this can have ramifications for the whole organisation. Executive mentors act as a sounding board for their mentees. They provide C-suite leaders with the clarity and perspective needed to handle high-stakes situations without a hitch.
3. Increasing confidence
Human beings always suffer from self-doubt. People who say they don’t are simply not telling the truth! Because of the demands imposed by their position, C-suite leaders continue to experience self-doubt even after undertaking extensive training. But leaders are expected to be confident and charismatic, and to show no signs of weakness.
People who can understand and empathise with top-level executives are few and far between. At this stage the peer pyramid is very narrow. There is hardly anyone from whom they can seek help.
For an executive under pressure, a professional mentor provides the sort of support that non-one else can. They have been there before. They understand the issues. They know how to help an executive conquer those moments of self-doubt.
Commitment is crucial
With the help of a mentor, an executive can become the leader they are expected to be: the leader younger employees look up to. That said, the mentoring partnership needs commitment from both parties. While a mentee might find it difficult to carve out time on their calendar, they must find slots to schedule the sessions and time to prepare for them. Mentoring only produces the desired results when both mentor and mentee are committed to the relationship.
To learn more about the benefits of executive mentoring, email me or call me on 020 7099 2621.