FastCompany

There’s a reason 100 percent of Fortune 50 companies have mentorship programs. Successful companies know mentorship programs do more than benefit the individual participants; mentorship relationships work to deepen and strengthen individual contributions to the company.

Here’s how leaders can identify and nurture potential mentors in their teams.

WHO BENEFITS FROM MENTORSHIP? 

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As of 2019, 13.7% of the United States’ population was foreign-born—but as researcher Peter Vandor noted in Harvard Business Review, immigrants make up approximately 25% of startup founders. Just as emigrating and starting life in a strange country involves taking big risks, so does starting a company—and many immigrants see both paths as equally viable, Vandor found, because of an innate higher tolerance for risk.

DIFFERENT FORMATIVE ENVIRONMENTS LEAD TO NEW THINKING

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In the corporate world, when we finally make it to CEO, we become company leaders. This is not a position many people know firsthand—if Zippia’s estimate of over 38,708 chief executive officers in the U.S. is correct, that means CEOs make up just 0.0001% of the country’s population. C-Suite executives and vice presidents also experience the feeling of knowing what it takes to be a leader, but not all leadership is alike.

COMPANY LEADERS MANAGE THE COMPANY

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The goal of a board is to mentor a company, guide its decisions, and provide advice on best practices. However, most companies don’t consider the benefits that come from mentorship: Greater awareness of new ways of thinking, a challenge to our limiting assumptions, and the sharing of valuable life lessons we have yet to gain. What better way to tap into the skills and expertise board members bring than to connect them with people in the same company looking for mentorship?

THE BEST MENTORS

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I believe executive talent is the most important aspect to look for when hiring or promoting leaders. A company’s leadership affects an entire organization and can either motivate teammates and provide them with purpose and direction or cause them to leave. Having a leadership team full of people with executive talent can help bring your company to new heights, but only if you nurture that talent in both yourself and in others.

Not everyone may know executive talent when they see it, but there are some common traits that anyone can easily identify. I believe good executives have no ego. They understand the value of constant learning and always seek out new ways for continuous improvement. Someone with too big of an ego may be unable to realize what it takes to be a great mentor or be mentored. If they think they know everything, they leave no room for others to teach them. And if they view teaching as a waste of time, they’re unlikely to offer their guidance to others. A culture of teaching and mentoring within a company can create an environment that nourishes executive skills and leadership, which is the key to exploiting that talent on a team.

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When companies look for board members, they look for leaders with the right experience, education, and qualifications. And since board diversity drives stronger company performance, board member hopefuls should take care to highlight any applicable areas of diversity—like gender, ethnicity, experience levels, or economic background, for example. But otherwise, how do people get noticed and recruited by boards?

CULTIVATE A BRAND

Cultivating a personal brand establishes you as an expert in your field and should start long before even seeking board membership.

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In early 2021, experts predicted the “Great Resignation” was coming. After hitting record highs of 4.4 million resignations in September 2021, the wave of people leaving their jobs has since shown little sign of slowing down. That rate maintained near stability through January 2022, when another 4.3 million people quit.

In America, people are lucky enough to be able to choose their opportunities. From traditional office jobs to start-ups to freelancing, the options are always growing. This abundance of opportunities is the American Dream that draws immigrants like me to pursue success despite the challenges we might face in the process. But it also makes finding and retaining good employees more competitive.

ORGANIZE YOUR HIRING PROCESS

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Public speaking isn’t an easy thing for every leader, but you have to conquer the fear factor if you’re planning to represent a business. By focusing on your passion for going into business, sharing authentically, and continuing to practice being in front of a room full of people every chance you get, you’ll be a pro at it in time.

5. TREAT IT LIKE A ONE-ON-ONE CONVERSATION.

I remember in school and all the way through college freezing up and feeling like I would never be good at public speaking. As I got older and gained confidence and authority, it became easier. The key for me is to stay transparent and treat every speaking engagement as a conversation. Try not to think about who is watching, how many people are watching, or how many will watch it in the future. – Martin Rowinski, Boardsi

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Everyone has dips in their energy and productivity. However, when you’re trying to lead a business, it’s tough to lose valuable work time to a slump in motivation.

To help you stay in optimal performance mode, a panel of Fast Company Executive Board members would like to share how they manage to keep themselves at their peak, regardless of what’s happening throughout the week.

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