Mentoring is widely associated with experienced employees helping younger employees grow in their career. However, our perception of mentoring has changed over the years. Now experienced executives are also seeking out advice because of the technological advancements. According to a survey conducted by Gartner, 47% of CEOs across 15 industries are challenged to make progress in digital business. Though specific skills can be taught by a coach, the advantages of having a mentor are numerous.
Also Read: Why Mentoring Training is Important for Mentors
What is Executive Mentoring?
Executive mentoring is a process where executives and c-suite leaders are paired as mentees with seasoned executives who nurture and support their growth over the long term. This kind of mentoring helps executives work towards both immediate and long-term goals.
Executive mentoring deals with issues like personal growth, career satisfaction, critical life transitions, preparing for the next step of career, and gaining greater leadership skills.
Why Do Executives Need Mentors?
When it comes to mentoring senior executives, many organizations think that their leaders already have a great depth of business knowledge, leadership, and strategy.
Let’s think it this way- what if your senior executives want to take their career to the next level? What developments will they need to become the next CEO? How can they successfully undertake the role?
Training executive leaders don’t prepare them for everything the role demands.
Also Read: Top 5 Mentoring Challenges and Their Solutions
Mentoring Helps Build Connection
A major issue that all senior executives face is, “it’s lonely at the top”. According to a report, 50% of CEOs experience feelings of loneliness, and 61% of them believe it hinders their performance. This feeling is not limited to CEOs; it can happen with any executive leader.
On the other hand, employees who have meaningful relationships in the workplace feel more engaged, tend to be more productive, and perform better.
Mentoring helps foster connection among people by creating deeper, more meaningful relationships. Mentors give executives the support they need. Having someone who understands their challenges, recognizes the journey, and can provide specific counsel drawn from experience is priceless.
Executives mentors don’t always have to be from within the organization. In fact, finding a mentor outside the organization helps executives connect to other leaders and learn from them.
Executive Mentoring Provides Clarity
When in the senior position, it is easy for executives to get caught up in the demand of their current roles. They are too busy to make time for personal development. And when they find a moment, they hardly have the clarity to determine what kind of development they want in themselves and where to begin.
A mentor can help them understand their strengths, areas they need to work on, set goals, and work with them to achieve those goals.
Moreover, executives deal with situations they have never dealt with before and make critical decisions. Not having clarity on the right course of action can have ramifications for the whole organization.
Executive mentors act as a sounding board for them. They provide c-suite leaders the clarity and perspective so that they can handle high-stake situations without a hitch.
Mentoring Increases Confidence Among Executives
Humans are bound to have self-doubts. People who say they don’t have it are simply not telling the truth! Because the position demands a lot, c-suite leaders continue to have the feeling of self-doubt even after going through extensive training. But leaders are expected to be confident, charismatic, and show no signs of weakness.
Since executives are at the top level, people who can understand and empathize with them are few. The peer pyramid becomes narrow at this stage. There is hardly anyone to seek out help from.
A professional mentor is the biggest support an executive can have. They have been there before and understand the issues. They know how to help them whenever they have moments of self-doubts.
With the help of a mentor, executives can become the leader they are expected to be; the leader younger employees look up to.
That said, mentoring needs commitment from both the participants. Though it’s not easy to carve out time on an executive’s calendar, they must find some time to prioritize and prepare for the sessions. Mentoring is only fruitful when both mentor and mentee are committed to the relationship.
Now that you understand the importance of executive mentoring, softwares like Mentoring Complete can help you implement a successful mentoring program for your executive leaders.
And if you are looking for tips and strategies to mentor your next-generation thought leaders, Mentoring University is the right platform for you.
Also Read: Mentoring Expectations from a Mentor
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