Mentoring Still Matters

Mentoring has always been a valuable development opportunity in the workplace, bringing personal and professional benefits to individuals and organisations alike.

Mentoring programmes in accounting firms can play a crucial role in fostering a supportive and growth-oriented environment, leading to increased employee satisfaction, retention, and the individual success of staff members and of course the overall organisation.

From a recruitment perspective, there’s no doubt that accounting professionals are more likely to wish to join supportive firms that embrace mentoring and a growth-oriented environment. In the current talent-short climate, the competition remains fierce. According to a recent poll by Express Employment Professionals in the US, 85 per cent of job seekers report being more attracted to companies offering mentorship programmes, while 82 per cent of hiring managers agree that mentoring sets their firm apart.

Mentoring is an effective tool for identifying and preparing future leaders within the organisation, contributing to the succession planning strategy of an organisation. Harnessing their experience, mentors can help mentees navigate challenges, develop their skill sets, adapt to changes in the industry, and stay updated on relevant industry matters.

As well as benefiting the mentee, the process is helpful for the mentors. The personal satisfaction of helping others; the sharing of skills and experiences, as well as gaining exposure to new ideas and approaches can be really valuable. It also provides the mentor a chance to reflect on their achievements. This feedback loop between mentor and mentee aids continuous learning and professional growth for both.

Mentorship programmes promote diversity and inclusion within accounting firms. By cultivating greater connections, individuals from diverse backgrounds can come together, nurturing a more inclusive and equitable workplace.

Employees certainly value a role model in their working life and mentoring schemes are a super way to offer a supportive network for your team. If you do not currently run a mentoring scheme, now is certainly a good time to set something in place. You can start small and build up. Perhaps pilot a scheme in one department, learn what works and adjust your approach. You will certainly reap the benefits.

As well as in-house mentoring, professional bodies such as the ICAEW and the ACCA have mentoring schemes available to their members, allowing mentors and mentees to network and connect globally. This is fantastic, but not a substitute for having a mentor program within the workplace.

Some useful links:

https://www.accaglobal.com/gb/en/member/advocacy-and-mentoring/mentoring.html

https://www.icaew.com/learning-and-development/academy/mentoring-and-coaching

https://www.aicpa-cima.com/resources/article/aicpa-and-cima-mentoring-scheme

If you are an Accounting Practice in Surrey or the South East of the UK and you’d like further information, please contact me.

Lisa Wintrip, Director
Fletcher George Recruitment

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