Mentoring makes good business sense

What if I told you that with one initiative you could improve employee retention, boost morale, develop a ­talent pipeline and enhance your company's reputation?

What if I told you that same initiative could also change the trajectory of a young person's life and strengthen our ­community? And that it's already being successfully implemented in businesses across the United States and here in Minnesota.

It's mentoring. January is National Mentoring Month, and it provides an opportune time to spotlight the ways youth mentoring meets business goals and community needs.

It's well-established that mentoring benefits children. For centuries, young people learned as apprentices and from extended family and their community.

More recently, mentoring has become one of the most tested and proven youth ­programs. Studies show that young people with mentors are more likely to be successful in school, to be leaders in their community, to volunteer, and to pursue postsecondary education.

But what about business? What effect does mentoring — specifically youth mentoring — have on the bottom line?

I'm not talking about a corporate mentoring model where experienced employees mentor new hires. Those programs are vital and serve their purpose well. I'm talking about mentoring youth as a focused community partnership.

The study found that mentoring is good for youth and good for business. Companies actively engaged in youth mentoring reported:

• Improved retention of high-quality employees.

• Employees who are more invested in their work and happier working for their ­company.

• A talent pipeline of well-qualified candidates who are ready for the workforce.

• Strong communities where employees live and work and where business can thrive.

Awareness is growing among Minnesota business leaders that mentoring hits the intersection of business strategy, employee skills and ­passion, and the needs of young people in our ­community.

Back in 2009, Comcast piloted a new type of business-based youth mentoring that incorporated mentoring directly into the workday. Since then, that program has provided one-to-one mentoring to nearly 100 St. Paul Public Schools students, and in doing so, established a template for other business-based mentoring programs.

Here's another example: Federated Insurance, headquartered in Owatonna, Minn., believes that mentoring's return on investment is so powerful that since 2004, it has dedicated 100 percent of the money received through the Federated Challenge for Kids of Minnesota — that's nearly $25 million — to Big Brothers Big Sisters agencies in Minnesota.

Federated Chairman, President and Chief Executive Jeff Fetters says that "mentoring is deeply ingrained in our business culture. It pays off in many ways. Our employees are more fulfilled and engaged, we're investing in the next generation, and we're contributing to a more vibrant community in which we do business." Fetters and his wife, Marty, count themselves among the dozens of Federated employees who are "Bigs."

At Cargill, a cohort of employees are volunteer mentors to young scholars from Harvest Network of schools in north Minneapolis. These "Littles" board a school bus and visit their "Bigs" at work twice a month for facilitated group activities ranging from community service and career exploration to chess games and craft projects.

Across the board, companies with successful mentoring programs note that a strong commitment from leadership, along with a culture that supports mentoring, are both essential to a program's success.

"We make a point to tell our employees that their time spent mentoring is important and valued," said Mike ­LeSage, president of Cargill's Risk Management business and a volunteer Big Brother. "We know it's good for employees, good for the community and good for the company. We reinforce that message at all levels of the organization; companywide support helps keep the program going strong."

Employee volunteers want to give back in ways that are meaningful and authentic. The best mentoring models provide training, tools and ongoing support. A good partnership involves mutual respect, clear communication and regular feedback — and ultimately makes launching and sustaining the program more manageable and rewarding.

January is a month of new beginnings. A new year brings resolutions to eat healthier, to be more organized, to get to the gym each morning. We focus on small steps to improve ourselves and our lives.

This year, I invite you to make a business New Year's resolution, and one that's a little more ambitious. Look beyond the walls of your organization and out into the ­community.