There are a lot of things that can shake up a business; one of the most prevalent of these is a lack of succession planning. Simply put, in order to run smoothly, there needs to be consistent business leadership and it is, on many levels succession planning that helps to maintain consistency and to keep a business thriving. By developing a corporate mentoring program as the foundation of succession planning, businesses will find that there are a number of benefits.

With a corporate mentoring program, new hires will be paired with someone who is experienced within the business. Rather than leaving someone who is new to the staff to figure things out and rather than having to look outside the company when a higher level position is open, those businesses with a corporate mentoring program will find that they are in a position in which the foundation of the business principles are passed to each member of the team. Likewise, with a corporate mentoring program companies will find that when there is an open position, there will be someone within the company qualified to move into it.

Without external hires – with a succession planning strategy – most businesses discover that there are not new ways of doing things being introduced; as a result, there are often far fewer conflicts when someone new is placed in a leadership role. Perhaps more importantly, with a corporate mentoring program, there are fewer workplace conflicts overall.

In part, this is because a corporate mentoring program keeps employees throughout the company working as a team. Rather than leaving those who are new to the company or new to a project to sink or swim, when a mentoring program is in place, newer team members work with those who understand the project and can be brought up to speed quickly. In addition to preparing these newer members to tackle the job at hand, a corporate mentoring program increases employee productivity and that leads to two additional benefits:

1. A corporate mentoring program leads to job satisfaction. Employees who know their jobs and who recognize that they are a part of a team feel more confident.

2. A corporate mentoring program that provides job satisfaction increases the productivity of the staff. Those who have been involved in a mentoring program have access to answers when they have questions, have access to support when they need it and, as a result, are able to finish projects with fewer errors or difficulties along the way.

Ultimately, the above reasons are why a corporate mentoring program is such an effective part of succession planning: when employees feel good about what they are doing, when they are productive and satisfied with their positions they are in a better position to grow. As staff members are able to grow, they are able to take on more advanced roles and to grow into upper level positions. More importantly, those same staff members will find that they are better prepared to help others grow into higher level positions as well – allowing them to continue passing the leadership torch.

Copyright 2008, Cecile Peterkin. All rights reserved.

Author's Bio: 

Cecile Peterkin, a Certified Career Coach, Corporate Mentor and Speaker, helps businesses leverage the mind-share of retiring Baby Boomers and senior managers, and transfer it to the next generation of leaders with her ProMentoring program. For more information visit ProMentoringInc.com.