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Benefits of Mentoring 

Why All Leaders Need Coaching and Mentoring

  • 17/04/2023
  • Jales Brooke
  • 3 mins read

Empowering workers to adapt to change when needed and boosting employee productivity are just some of the advantages that coaching and mentoring can provide for organisations.

This is why 92% of small business owners with a mentor agree that it has directly bolstered their company’s growth and survival. However, not everyone has access to coaching and mentoring opportunities. In fact in the same study, 89% of individuals claimed they wished they had a mentor from whom they could draw support.

As Herman Stewart, founder of Every Child Needs a Mentor, says; “If we’re really going to turn the dial on productivity and growth, we need to significantly improve access to inspiring mentors that can help the next generation of business leaders to expand their horizons and achieve their goals.”

It’s evident that providing leaders with coaching and mentoring is essential for sustainable business growth. And, better yet, it’s what the leaders of tomorrow are asking for. 

📖 Find out more about the key differences between coaching and mentoring in our guide 📖

What are the benefits of coaching and mentoring for leaders?

Here are the top benefits that mentoring and coaching provide for leadership, today:

Providing direction and guidance

Firstly, having a mentor or coach can guide leaders into making more thoughtful business decisions. This is because these professionals serve as a sounding board, allowing executives to sit down and sift through certain ideas and check if they’re feasible.

This is exactly what Becky Shepherd, founder of social media agency, Swwim found“I was looking for focus. I had lots of ideas and good intentions, but without having anybody to report to, I struggled to refine my thinking and prioritise my actions.”

Becky’s experience showcases how the advice and direction given by mentors allows business leaders to implement sound business strategies.

Developing leaderships skills and capacities

With access to executive coaches, leaders can alter their attitudes and efforts to deliver better outcomes for their organisations. This is because executive coaching equips leaders with the skills they need to address their employees’ needs. As work environments become more complex, leaders must have an experienced coach to create strategies that can optimise their teams.

On top of this, J.P. Morgan’s survey on UK business leaders shows how 52% of executives believe that corporate responsibility can improve employee retention. Today, social concerns around employees are urging leaders to develop robust environmental, social and governance (ESG) measures. With the support of a professional coach, business leaders can better identify the demands of their workers and, potentially, lead impactful ESG initiatives which can support their employees.

📖 Find out more about supporting your ESG initiatives with Guider 📖

Increasing self-awareness

Executive coaches can motivate leaders to become more self-aware. This is an essential trait to have as it allows business leaders to recognise their company’s challenges and find ways to rise above these issues. As it stands, 61% of British business leaders anticipate economic growth to be better in 2025, while 63% believe their revenues will increase over the next three years.

In order to achieve these great business outcomes, executives need to be prepared to respond to economic pressures brought by inflation and unemployment. Fortunately, coaches can encourage executives to identify their organisation’s vulnerabilities and plan for challenges before they arrive.

📖 Start building self-awareness today with our top questions 📖

Providing support for mental well-being

Business leaders aren’t immune to mental health concerns and feelings of isolation. Luckily, mentoring can positively affect mental health. For one, a Harvard Business Review study shared that mentors can help minimise feelings of stress and anxiety. This is particularly beneficial for executives who worry about their ability to lead their teams.

In addition, having a mentor means having a support system. Business leaders can gain a safe space to build their skills and explore new ideas. This will significantly impact a business leader’s career progression and improve work performance, as well as developing communication skills and confidence. 

📖 Find out more about running traditional mentorship programs with Guider 📖

Leaders and executives are tasked with high-level responsibilities to ensure that their organisations achieve success. By leveraging coaching and mentoring effectively, business leaders can not only become more adept at their roles but become more self-aware and protect their well-being too. This is why coaching and mentoring are an essential part of your leadership development toolkit. 

To learn more about how Guider can transform your leadership development, book a call with us today.