Abstract
This chapter demonstrates that mentoring is an essential part of leadership development and succession planning when it comes to millennial leaders, because mentoring not only develops crucial skills and leadership capacity but also improves the organizational commitment and retention of millennials. The chapter begins by providing a survey of existing research into mentoring and leadership development, particularly through a transformational development lens, and outlining the findings pertaining to millennial retention and improved organizational commitment through mentoring. Next, it explores issues relevant to mentoring program development, such as millennial expectations of mentor qualities, the need to address diversity through mentoring, and the evolution of mentoring formats. Finally, the chapter provides recommendations for developing an optimal mentorship program and outlines possible directions for future research.
TopIntroduction
Decades of research have shown that, like other leadership development approaches, mentoring helps to expand ascending leaders’ capacity and skills. What is unique about mentoring is that it also improves the retention of millennials and enhances their organizational commitment (Iverson, 2019). This is critical since millennials do not tend to stay with employers for as long as members of previous generations; instead, they are known for moving from job to job to advance their careers (LaBelle, 2018). Potential leaders cannot be part of a succession plan if they do not remain with a company. Mentoring is the ideal way to retain emerging leaders while also preparing them to take on senior roles within an organization (Iverson, 2019).
The objectives of this chapter are:
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To provide a comprehensive overview of research pertaining to millennials, mentoring, retention, and leadership development.
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To discuss several issues relevant to mentoring program development, including millennial expectations of mentors, the need to improve diversity through mentoring, and the evolution of mentoring formats.
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To provide recommendations for developing an optimal mentorship program.
TopHow Mentoring Helps Develop Talent
Using mentorship approaches in succession planning is an effective strategy for internal talent development and promotion (Cavanaugh, 2017). The term mentor has been used since ancient Greek times to describe an older adult with experience and expertise who helps a younger person learn to thrive (Kram, 1985). Levinson, Darrow, Klein, Levinson, and McKee (1978) are considered the first theorists in the field of mentoring relationships (Allen, Eby, Lentz, & Lima, 2004). Levinson et al.’s research concerning career development led the researchers to theorize that an individual with access to a mentor experienced career advantages because the mentor acted as an advisor, teacher, friend, and sponsor, thus helping the mentee develop their capabilities (Levinson et. al, 1978). Such career development effects have since been confirmed by a number of researchers (e.g. Blay et al., 2011).
Key Terms in this Chapter
Career-Related Support: Assistance in matters such as company culture, work-related knowledge and skills, and career advancement opportunities.
Retention: Ensuring that employees want to remain with their current company as opposed to leaving.
Organizational Commitment: A worker’s involvement with and attachment to their organization.
Psychosocial Support: Assistance with social and emotional aspects of one’s experience.
Informal Mentoring: An approach to mentoring based on organic relationships without guided external expectations.
Transformational Development Approach: A part of Transformational Leadership Theory, which has the end goal of transforming followers into leaders through a competency-based approach with a focus on empowerment.
Formal Mentoring: A structured approach to mentoring in which participants are matched based on specific criteria and then engage in prescribed activities designed with specific outcomes in mind.
Succession Planning: A systematic process carried out by organizations to determine which individuals have the potential or the current ability to assume leadership positions when current leaders leave an organization.