PKF Texas – Entrepreneur’s Playbook®:Mentorship Program

by | Feb 5, 2010 | PKF Texas - The Entrepreneur's Playbook®

Note: Running Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the PKF Texas – Entrepreneur’s Playbook® page of the PKF Texas website. 

How does your firm handle mentoring junior team members?  Do you have an established program or are your mentor relationships more informal?

There are several things to consider when establishing a mentoring program:

• Allow team members to self-select their mentor/mentee, being careful to avoid favoritism. This encourages a more effective relationship
• What kind of communication training should be provided to participants?
• The mentor and mentee should meet on a regular basis and set clear milestone goals

A mentorship program focuses on developing a relationship through self-disclosure, building trust, listening for understanding and providing feedback. 

The benefits of a more formal program can include:

• Provide the tools to assist with succession planning
• A reduction in turnover and
• The development of team members leadership skills

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