Diversity is instrumental to a company’s growth. Studies show minority representation in leadership drives innovation, greater returns to shareholders, higher profitability, and an uptick in financial performance.
Gartner asserts 75% of companies with frontline decision-making teams that embrace diversity and inclusivity surpass their targeted business goals. Another study found a formal mentoring program boosts minority and female representation in management by 9 – 24%.
In developing or evaluating a mentorship program, consider these questions:
1. Does our program advisory board or planning committee include diverse representatives?
2. Is our program information accessible and widely available to all employees?
3. Are employees invited to self-nominate or apply for mentoring opportunities?
4. In training, do we provide opportunities for participants to discuss cultural differences and how they may impact mentoring relationships?
Reference: HR Technologist