The path to leadership is never a straightforward one, but while it poses numerous challenges, it also contains within it many opportunities for both personal and professional growth. A journey with obstacles is still worth making, you just need to be equipped with a solid strategy to help you overcome the challenges you are likely to face. The growing importance of mentoring for leadership training has inspired a new generation of mentoring programs, and has emerged as one of the most powerful tools to support new managers in their quest to build their leadership credentials.
Becoming a Leader & Developing Leadership Skills
1. Mentoring as an Effective Pathway
Mentoring is one of the most effective pathways for leadership development. Through a mentoring relationship, new leaders can learn from their mentors’ experiences, receive constructive feedback, and gain professional guidance. Scientific research in the field of mentoring shows that this approach significantly improves mentees’ problem-solving and decision-making skills, preparing them to successfully lead their teams and organizations. Employees who participated in mentoring programs have been found to be five times more likely to receive a salary grade change (25% vs. 5%) compared to those who did not participate.
Similarly, mentors experienced salary grade changes at a rate of 28%, compared to just 5% among non-mentors. Additionally, Stanford University reports that mentees in mentoring programs are 20% more likely to receive promotions and salary increases compared to those without a mentor.
2. The Power of Coaching
Coaching is another powerful tool for leadership development. Coaches work with leaders to help them improve their skills, develop new abilities, and achieve specific goals. This process can be highly personalized and targeted to improve specific areas of leadership. According to the International Coaching Federation, 86 percent of companies that use coaching report an ROI of six times their initial investment.
3. Training and Development Programs
Participating in leadership-specific training and development programs can provide you with the skills and knowledge needed to effectively lead your team. These programs can include workshops, seminars, online courses, and certification programs in leadership and management. An analysis by McKinsey & Company found that companies investing in leadership development programs are 25 percent more likely to create a sustainable competitive advantage.
4. Practical Experience in the Field
Practical experience is critical to leadership development. Taking on roles of responsibility, managing projects and teams, and dealing with real-world challenges enables leaders to apply the skills learned in practical contexts, thereby improving their decision-making and problem-solving skills.
5. Networking and Community of Practice
Participating in professional networks and communities of practice provides opportunities for learning and growth through sharing experiences and best practices with other leaders. These contexts provide support, inspiration, and new perspectives.
6. Continuous Feedback and Self-Reflection
Continuous feedback from colleagues, subordinates, and superiors is essential for leadership growth. Additionally, the practice of self-reflection enables leaders to evaluate their own performance, recognize their strengths and weaknesses, and develop a plan for continuous improvement. A Harvard Business Review study found that leaders who practice self-reflection are more likely to be seen as effective leaders by their subordinates.
7. Formal Learning
Academic programs, such as MBA and management degree programs, provide a solid theoretical and practical foundation for leadership. These programs combine academic study with practical experiences, preparing leaders for real-world challenges.
How Sports Paved the Way for Modern Mentorship Programs
Two Types of Mentoring: Formal and Informal
There is no single type of mentoring; depending on your needs, you should be able to choose between:
- Formal Mentoring
This type of program is structured and organized by the company. Mentor and mentee are matched by the company and meet regularly to discuss the mentee’s goals and progress.
- Informal Mentoring
This type of program is less structured and relies on a spontaneous relationship between mentor and mentee, who meet from time to time to discuss work or personal life topics.
The Value of Meaningful Conversations in Mentoring
Through regular meetings and meaningful conversations, mentors provide critical support, guidance, and feedback, aiding mentees in understanding themselves better, facing challenges, and exploring new opportunities.
This one-on-one approach enables mentees to learn from the successes and failures of those guiding their development, thereby accelerating their personal growth.
To quote the Harvard Business Review again, mentoring plays a pivotal role in the development of leadership skills and the professional advancement of mentees. Furthermore, mentoring assists future leaders in developing a broader, more strategic perspective on leadership.
The Importance of Mentoring According to the Experts
Forbes writes that mentoring is a practical and results-oriented approach that equips mentees with the problem-solving and decision-making skills necessary to successfully lead teams and organizations. Meanwhile, a study by Harvard Business School underlined the importance of mentoring for leadership training by revealing that mentees who participated in mentoring programs experience a 15 percent improvement in work performance, and a 30 percent increase in leadership capabilities.
A summary from an article by the Bologna Business School highlights a poignant quote from Eugenio Sidoli, CEO of Max Mara Group and lecturer in the Hybrid MBA at BBS:
“You Work Well and I Will Take Care of You.”
This formula represents the essential message a good mentor should communicate to their mentee, serving as the foundation for building a meaningful connection and effectively sharing valuable insights.
Mentoring as Critical Support for Future Leaders
Mentoring thus serves as an indispensable element in the leadership journey, offering personalized support and guidance that cultivates the growth and development of future leaders. This support is crucial in honing the skills required for effective leadership, particularly at the beginning of one’s leadership career.
