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News: Mentoring can boost business productivity, employers told

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19th Jun 2014
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Employers that develop mentoring skills within the workforce will benefit from an increase in business performance and productivity, according to a skills organisation.

The Financial and Legal Skills Partnership (FLSP) provides a one-month programme that matches mentors with young people to help develop a talent pipeline for the finance and legal sectors.

The mentor – a professional from a broad range of organisations - supports and motivates students aged 16-19, who are keen to enter the financial or legal profession and gain a better understanding of it. The mentor also receives online training through the programme.

Based on feedback and evaluation of the Get In Get On (GIGO) initiative, the FLSP claim that 89% of participants said mentoring has positively changed their lives, while 74% stated that the programme has greatly improved their understanding of their chosen sector.

A recent report by the Department for Business Innovation and Skills revealed that almost nine out of 10 businesses involved in mentoring schemes said it helped them to succeed, while nearly half reported an increase in turnover.

“Mentoring skills are a real asset to a business,” said Amanda Ryalls, business development director at FLSP. “The government’s research coupled with our feedback shows that businesses which use mentoring can significantly increase their productivity.

“Aside from improving business performance, helping local young people in this way is a great way for companies to improve their public image and discharge their corporate and social responsibility.”

The GIGO programme has received co-investment from the UK Commission for Employment and Skills through the Growth and Innovation Fund.

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