Corporate mentoring programs are shrinking as the recession forces companies to slash budgets.
That`s the word from Catalyst, the women-and-business research and consulting firm that surveyed 25 of the country`s largest firms to make the determination. Programs that encouraged relationships between mentors and proteges, such as regularly scheduled lunches, office meetings or phone calls, had been cut back or eliminated at almost 20 percent of the businesses polled. The group advises that businesses should think twice before dissolving formal mentoring programs.
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To get maximum value from a mentoring program, the organization recommends:
– Choosing mentors who endorse the company`s values and have behavior, attitudes and work styles the company would like to perpetuate.
– Training mentors in listening and coaching skills, and providing mentors and proteges with specific recommendations on how to foster the alliance.
For more information on mentoring, contact Catalyst at 212-777-8900.