To know how successful your business mentorship program is, you’ll have to measure its progress. A successful mentoring program help break down the obstacles and create an environment for success.
A mentoring program connects people who possess certain skills and have attained a level of expertise in a business line, usually referred to as a mentor, with individuals (called mentees) seeking guidance in the same line of business to boost their knowledge and economic growth.
Why Should You Measure Your Mentoring Program?
It is of utmost importance to know why it is necessary to measure your mentoring program’s progress. A mentoring program offers a three-way benefit to the mentor, the mentee, and the organization if well implemented.
The primary importance of measuring your mentoring program progress is to see if the program has been able to meet up with its objectives, that is, the main reason why the program was established.
- Has the organization successfully been able to connect mentors with mentees?
- Has the mentor been of good guidance to his protégé?
- Has there been any visible improvement in the mentee’s business?
These questions need to be answered to ascertain the stance of your mentorship program.
If you have been able to answer the above listed questions positively, then you would be interested to know how you can measure the progress of your mentoring program. Each measurement is not just important to your program’s ROI but also fosters the development of your mentors and mentees.
How to Measure Your Mentoring Program Progress
To know if your mentoring program is working, you have to look out for the following points;
Have your business objectives been met?
Before starting up a mentoring program, you must have set specific business objectives that you hope to accomplish with the program. Once you decide to measure your program’s success, look back at those set objectives and see if they’ve been met.
If you haven’t reached your proposed objective, consider replacing it with a new objective and start working on achieving it.
Have your SMART goals been reached?
SMART stands for Specific, Measurable, Achievable, Realistic, and Time-Bound. This yardstick measurement should be used by the mentors and mentees.
This goal shows that the relationship between a mentor and a mentee is going well and it’s a good indicator that will prove your mentoring program’s success. The mentee should set a SMART goal to list out the things they want to get out of the relationship.
On the other hand, the mentor needs to map out a structured plan on how the goals will be achieved. Both mentor and mentee should revisit this plan to update it once their set goals have been realized.
Have regular check-ins
Regular check-ins with both mentors and mentees are just as important to the growth of your mentoring program. These check-ins will help you oversee the effectiveness of your mentoring program.
Ask questions also that would allow you to determine the compatibility of the pairings.
- Do mentors and mentees feel well-matched?
- Do they have a positive and engaging experience?
Asking these questions at the early stage will help you decipher is the program is actually growing or declining.
Has your program gotten any referrals?
This happens to be an overlooked point, which is in fact, of good importance. For your program to be referred to someone, it means your mentoring program is doing well. This shows the sustainability of the extent of your program’s advocacy within the organization.
The program’s administrator will show the increase in the number of participants (both the mentors and mentees), the number of referrals, the number of mentors that have participated in more than one. This gives important inference points about the program’s effectiveness.
Have you gotten any feedback?
Unlike other measurements, this particular one does not need to be fore-planned. Getting feedback from participants is another way to show the progress of your mentoring program.
However, there can be times when your participants will fail to give you feedback; in cases like these, you do not need to be alarmed. You can carry out a survey to find out what they are getting from the program. From there, the ROI of the program can be ascertained. If all is going as it should be, you would realize good outcomes.
Knowing the status of your business mentoring program is very important. However, if your program is doing well, consider adding more set goals to be achieved. If it shows to be doing wrong, consider a new strategy.