Leslie Truex, author of the Work At Home Bible, interviewed Susan Bender Phelps, CEO, of Odyssey Mentoring and Leadership for an audio podcast on her website www.Work-At-HomeSuccess.com this week. You’ll learn how she started Odyssey Mentoring and Leadership and hear why mentoring skills and mentoring are so critical for professional development, employee engagement and productivity: http://workathomesuccess.com/wahs-podcast-163-susan-phelps-of-odyssey-mentor (you’ll have to copy and paste the link into your browser to get there).

An actively engaged employee is a productive member of your organization. They care, they’re motivated and they are actively contributing. In fact, a large part of your company’s success is the direct result of their accomplishments, creativity, drive and talent.

A 2006 Gallup poll found that higher performing companies have a significant difference in the ratio of engaged versus disengaged employees than lower performing organizations. That’s 8:1 for the best, and just 2:1 at the average companies. If yours is one of those high-performing companies, that’s very good news.

But, according to a 2010 survey by global consulting firm BlessingWhite, only 31 percent of the global work force is actively engaged. Overall, they found that 52 percent of the work force is not engaged. That means they come to work and do what’s expected or less. If that isn’t an eye opener; it turns out 17 percent of the workforce is actively disengaged: they show up when they feel like it, and continually undermine and work against you.

This is important because employees who aren’t engaged lower overall productivity and add to turn over and that costs you. Before the recession, the cost of replacing an employee averaged $17,000 and those who made more than $60,000 per year cost more than $38,000 to replace. Now human resource managers tell us to look at an employee’s annual salary and figure 100 to 150 percent is what it will cost you to replace them. This includes lost productivity, recruitment and training. When you consider managerial and C-suite compensation packages, the total cost is sobering.

It turns out that the best predictor of high performance is that ratio of actively engaged employees at every level of the company. And employee engagement is most positively impacted when managers have excellent people skills. Managers who have great relationships with their direct reports out-perform those who rely solely on management actions.

This leads me to conclude that mentorship skills (people skills) and a mentoring environment (learning and support) are important tools for improving employee engagement at all levels of your organization. Once you have hired the best and brightest, mentoring is one of the most effective ways to ensure they stay engaged and committed to your organization. Mentoring enhances loyalty by placing high potential employees on the fast track with the extraordinary benefit of high quality senior level guidance.

Mentoring programs deliver three proven outcomes:

• While the best skills training can produce a bump in productivity of 33 percent, training combined with effective professional mentoring improves productivity up to 88 percent.
• Mentees form stronger bonds with you and your company because they can see a worthwhile future that includes them.
• Mentors experience a stronger sense of purpose and satisfaction when they use their knowledge and expertise to cultivate and develop another person.

Costly employee turnover will be reduced because employees in an effective mentoring relationship feel appreciated, have the opportunity to give and grow. Mentees get personal coaching, sponsorship and encouragement, enhance their skills, and increased levels of confidence. Both sides of the mentoring partnership experience a greater sense of satisfaction in their careers and often in their personal lives.

Here’s where you can see the complete study: http://www.blessingwhite.com/eee__report.asp

The people skills employees need in order to have effective mentoring partnerships can be learned and Odyssey Mentoring provides the training that empowers effective mentorship.

Has the door to the executive suite and the board room slammed shut for women? Is it still possible for other capable and talented women to join the ranks of leaders like Brenda C. Barnes, Chairman and CEO of Sara Lee, Andrea Jung, Chairman and CEO of Avon Products, Indra Nooyi, Chairman and CEO of Pepsico, and Patricia Woertz, Chairman, President and CEO of Archer Daniels Midland?

The evidence is disappointing. In a recent article, about the 2010 Catalyst Census: Fortune 500 Women Board Directors and the 2010 Catalyst Census: Fortune 500 Women Executive Officers and Top Earners, released Monday, December 13, Ilene H. Lang, Catalyst president and chief executive officer told FOX Business, “The first look at our census numbers over the last years shows little progress for women as top earners.”

• In 2010, women held 14.4% of executive officer positions, up from 13.5% in 2009 and only 7.6% of the top earning positions compared with 6.3% in 2009.
• Women held just 15.7% of board seats in 2010, a mere 0.5% gain over the 15.2% in 2009.

One bright aspect of the report, according to reporter, Barbara Mannino, showed that men and women with mentors were placed higher in their post-MBA first jobs, with men benefiting more than women over time. Men with mentors were 93% more likely than men without mentors to start out at middle management or above. Women with mentors increased their odds of being placed at mid-manager or above by only 56% over women who did not have mentors.

Throughout their careers, men received more promotions than women and higher salary increases. Each promotion earned men an extra 21% in compensation; for women, each promotion amounted to an extra 2%.

High- potential men and women with senior-level mentors advance further and earn more than those with less senior mentors. Overall, though, women’s compensation still lags men whether or not their mentor is at the top.

With top tier leadership and board rooms having so few women among their ranks, it is less likely these executives will choose a woman to mentor. Historically, leaders choose the person most likely to be just like them as their own careers advanced.

Forward-looking companies can boldly address this issue by creating and supporting mentorship programs that are open to a wider pool of future leaders. To launch such a program, both mentors and mentees should receive training that prepares both partners for success – regardless of gender, culture and generational differences.

Mentoring at the senior level is not about showing another how to do something, rather it is about cultivating the kind of thinking that experience provides. It includes being able to have a conversation that leads to insight, action, accountability, and learning. It provides a support system for the learning process. Finally, as the mentee proves herself it includes career sponsorship and network sharing to help her advance in her career.