The recruiting industry is very competitive, and, with the pandemic, remote jobs have made it difficult for companies to stand out among others when hiring new talent.
One of the best ways to stand out is to develop an employer brand where employees feel like they’ll find ample opportunities to grow within the company.
How can you build this kind of employer brand?
Internal mentorship programs.
They’re proven to attract new talent, boost retention rates, increase productivity, and much more.
This article will outline 6 reasons recruitment agencies should have employee mentoring programs.
We’ll also list 3 ways you can get started building your program.
Recruitment Agencies Face an Uphill Battle to Attract Talent
While recruitment agencies focus on helping their client companies find talent, it can be difficult for them to find talent for themselves.
With the pandemic, most jobs have become remote.
Remote recruitment agencies now have greater talent pools to draw from.
But potential candidates also have more options.
They too can now apply for jobs from anywhere in the country. With more options, top talent has the luxury to choose companies that best fit their values and goals.
The competition is vast. There are over 20,000 staffing and recruiting companies in the U.S. alone.
Your staffing agency needs to stand out among the competition to attract new talent.
The off-the-shelf best practices for standing out from your competition include offering higher salaries, providing better benefits, giving them more autonomy…the list goes on.
But it’s common knowledge that the best and brightest want to work for companies they believe in and align with their values.
The World Economic Forum found that 60% of employees changing jobs seek a better fit between their own and their employer’s corporate values.
According to the American Staffing Association, one out of four employees is leaving the staffing firm they work at each year.
One thing is clear: for you to stand out as an exceptional employer, you need a stronger employer brand. And competitive salaries and benefits are only table stakes now.
What more can you do?
To attract talent, you need a strong employer brand.
Organizations with strong employer branding are three times more likely to make a quality hire. A great way to build an attractive employer brand is with internal mentoring programs.
Why Should Recruiting Agencies Start Mentorship Programs?
1. Employee Retention Improves with Mentorship
An employer must show that they care about their employees by providing them learning opportunities to grow their skills.
Mentorship programs are a great way for both junior and senior employees to learn communication and job-related skills. As they learn they’re more likely to stay within that company.
In a survey, millennial employees with mentors were 68% more likely to stay in the company for over five years.
2. Mentors Open up Opportunities for Employees to Grow
Mentorships allow employees to learn new skills and grow within the company. This practice allows employers to have engaged employees that know that they have a future in the company.
Additionally, senior employees can share their expertise with junior employees to pass on their knowledge.
Not to mention that mentorship programs allow for better insight into both the mentee’s and mentor’s perspectives. According to Forbes, employees with mentors are promoted five times more often than their peers.
3. Onboard New Employers Faster by Connecting Them with Mentors
The onboarding process can be overwhelming for new talent. A great way to make the process smoother is to connect junior employees with new talent to mentor them through the onboarding process.
This will allow new employees to have someone they can directly talk to about their doubts when starting their new job and connect with other fellow employees.
In a study by Together Mentoring Software, 70% of new hires want an onboarding buddy to make the process easier.
4. Expand Employees’ Professional Networks
Mentorship programs can expand employees’ networks. Using mentoring software tools like Together, employees build a profile that includes the skills and experience they want to gain.
The platform then suggests mentors across the organization that have those skills.
In this way, employees can quickly find someone who will spur their growth while also having a perfect ice breaker: “I saw on Together that your top skills are strategic thinking and communication. I’m working on those skills now. I’d love to ask you more about them.”
5. Mentors Improve Employee Training Programs
Mentorships are a more engaging way to train employees. Whether employees prefer to have one-on-one or group mentorships, it is a way for employees to learn new skills in a hands-on manner.
Mentorship programs are also more extensive and allow employees to grasp the content better.
According to Learning Solutions, on average, people tend to forget 90% of what they learn within one week. Having a mentor allows employees to retain the information given to them better.
6. Productivity Improves for Long Periods
Such programs also allow employees to continue to stay engaged in the long run.
In a study done at Google, mentoring connections made early on led to productivity gains among employees five years later. This strong connection allows employees to feel like they are more of a part of the company.
3 Ways to Start a Mentorship Program Within Your Recruiting Group
1. Give Every New Hire an Onboarding Buddy Mentor
It is very important that new employees feel welcomed into the company.
Research has shown that employees need friendships at work to thrive. For instance, those with close relationships with peers are 50% happier at work.
Additionally, they are also seven times more likely to be engaged at work.
New hire onboarding mentoring allows new employees to start right and learn how the company works from their peers.
2. Pair High Potential Employees with Mentors to Prepare Them for Leadership Roles
It is important to avoid a high potential employee turnover. This can be done by mentoring them to gain the skills to become the future leaders they can be.
Not only does this allow them to learn new leadership skills, but it also allows them to network with senior employees and learn what it is like to be a leader within the company.
Furthermore, mentorships keep employees engaged and build a trusting relationship between mentor and mentee.
A survey done by Gallup mentioned that employee engagement is one of the most important factors that contribute to their performance. Additionally, employee engagement improves the retention rate by 59%.
3. Support Diversity & Inclusion by Organizing Mentoring Groups for Diverse Employees
Another important way to keep employees of any background engaged is through diversity.
Many employees from underrepresented backgrounds feel left out, but this can be countered by offering them tools to feel like they engage and make a difference in the company.
Try pairing employees of diverse backgrounds through employee resource group programs so they can build a sense of community.
Additionally, this allows diverse employees to have opportunities to become leaders within the company to increase representation in leadership roles.
Build a Positive Employer Branding for Your Recruitment Agencies
Mentorship programs are an effective way to build a strong employer brand. This kind of employer brand will make potential employees want to be a part of your company.
With the right tools, you can create a positive employer brand for your staffing firm.
Also, mentorships allow new employees to feel less overwhelmed and more welcomed.
With Recruit CRM’s Applicant Tracking System, you can manage and visualize where each candidate stands in the hiring process.
This recruitment software allows you to sort through resumes, scan for potential candidates, and allows you to manage job openings as well to keep every process streamlined and customizable.