Why even CEOs need mentors

Being the leader within an organisation can often be lonely. Sitting at the top of the proverbial pyramid, many leaders are too proud to ask for help, considering it a sign of weakness. Others simply don’t know who to turn to for help and support. The truth of the matter is that it’s always worth seeking a second opinion, especially when that opinion is proffered by someone you look up to.

No one is an island; some are just very good at pretending they are. We’re all better off for having someone to give guidance and bounce ideas off, and, while significant others provide support in many important areas, depending on your spouse for daily business advice has real car crash potential.

 

 

It’s common practice for businesses to have mentoring programs for their younger employees; essentially in-house apprenticeships. These programs are designed to help new joiners integrate seamlessly into the business, while also helping them quickly develop their nascent skillset. Research into these schemes has found  that they help younger staff, “to advance more quickly, earn higher salaries, and gain more satisfaction in their jobs and lives than people without mentors do”, while for employers, “the benefits are not only higher performance but also greater success in attracting, developing and retaining talent”.

Training at the top

All of this is great news – and if your business doesn’t already run such a program then it’s certainly worth considering – however why restrict it to junior employees? 75 per cent of businesses make use of mentors or coaches in some capacity, but how many of these are employed towards benefiting the senior figures within an organisation?

A director who doesn’t learn is like a swimmer who doesn’t breathe

Directors have an increased responsibility to continue developing for the benefit of people they now serve as well as lead, says Perry Timms, current Director of People & Transformational HR (PTHR), in the last Hays Journal. “A director who doesn’t learn is like a swimmer who doesn’t breathe. You can only hold your breath for so long before it all goes horribly wrong,” he explains.

While formal training and accreditations are all worthy means of up-skilling oneself, they’re often not viable for senior employees who already have to contend with brimming schedules and responsibilities. Suzanne de Janasz, of Seattle University’s Albers School of Business and Economics, and Maury Peiperl, of Cranfield University, surveyed 45 CEOs who have formal mentoring arrangements, and found that 71 per cent were, “certain that company performance had improved as a result”, while 84 per cent felt they became more proficient in their roles faster and 76 per cent believed they were more capably fulfilling stakeholder expectations as a result.

These remarkable results are all a consequence of formal mentoring programs with other senior business figures, but that isn’t always the way. My mentor and I have never mentioned the word “mentor” – we simply started meeting up on a regular basis and I got into the habit of explaining my challenges because I found his feedback useful. And it’s important not to limit the pool of people you can learn from to just those who are older and wiser than you. With technology encroaching ever further into the workplace, you should also on occasion look to younger generations; after all, you need to be able to address concerns and relate to people of all ages within your business, not just those of a more senior status.

To give you an example – social networks are a very effective means for leaders to grow their presence, market their brand and connect with others, however I scarcely have time to monitor all the new developments in this space so I regularly discuss the issue with one of my younger employees who keeps me up to date.

5 things mentors are good for

We all have the capacity for greater learning, and every individual is a potential source of new knowledge, however this blog is primarily about those mentors of a certain seniority. You should ideally seek out someone who is either semi-retired or who has at least one decade’s experience on you. With that in mind here are five things a leader can gain from having a mentor:

1. Experienced advice

 Having access to someone who has already walked the walk is a privilege that few enjoy. A mentor with decades of experience, who’s faced all range of challenges and witnessed many market transformations over the years, possesses knowledge that is quite literally priceless. No number of online courses or away days can provide you with the wisdom that such a business veteran holds.

I was having a coffee with my mentor and I mentioned something that concerned me about an area of my business. He immediately said “Fix it. That’s business critical. I changed that once in my business when it wasn’t working and it changed my life”. In that example my mentor didn’t give me any new information or insight (although he has done so on other occasions), but he helped me to focus my mind on the importance and urgency of a particular priority; something only someone who’s been there and done it could do.

Although you will have extensive experience yourself, you will also be facing new challenges each day that only someone further ahead in their career than yourself can help you navigate. Low cost competition, high staff turnover, average productivity – every issue your business faces has been successfully surmounted by someone previously.

2. Candidness

 The strongest relationships that de Janasz and Pieperl unearthed in their research were those where clear rules had been established to, “ensure that both parties commit to total confidentiality”, which, “embolden mentees to disclose without fear of repercussions”.

Often it’s simply not appropriate to share your business dilemmas with a colleague or relative – whether that is because the topic is too sensitive, confidential or they simply won’t be able to relate. Mentors offer a rare candidness which means you can use them as a sounding board for all of your ideas and problems. One of the best pieces of advice my mentor gave me was a simple and direct comment about my dress code in specific environments and I’m very grateful that he had the candidness to make the suggestion.

3. Access to a larger network

 An added bonus to having a senior mentor is the extended network that they are likely to provide. If they’re not able to issue you with a salve for a particular situation then they’ll almost certainly know someone who can. Networks like LinkedIn are great for connecting with relevant professionals that you maybe have never met before, however without a formal introduction or reference from a middle-party there will always be a membrane of unfamiliarity separating the two of you.

4. Perspective

 It’s so easy as a leader to get stuck in a moment, and blow it out of all necessary proportion. By having someone who is towards the end of their career, and who understands first-hand that highs and lows are to be expected, you can improve your decision making and reach fairer judgements.

Mentors are the perfect figures to turn to in such situations because, firstly, they exist outside of the business – and so won’t be caught up in any group-think – and, secondly, and unlike a relative or friend, they’ll be able to relate to your situation and provide relevant and salient advice.

5. Personal growth

 Lastly, your mentor will be able to afford you some much needed me-time. How much time, as a leader, do you spend honing your own skills and focusing on your own development? Probably not much.

Understandably as a leader your main focus is ensuring everyone else is fulfilling their potential, however, as articulated earlier by Perry Timms, it’s your responsibility to also make sure you’re providing your team with the sagest leadership possible. Your mentor is not there as your career coach but they can, through sharing their own stories, provide heuristic support which will be of incalculable personal benefit.

Picking up the tab

Think carefully when approaching prospective mentors. As a leader you probably already have an extensive network which you can make use of and they will probably be flattered when you ask them for support. You’ll discover that most people are happy to impart their wisdom for free, providing you aren’t asking too much of them – just make sure pay for the coffees!

I’ve always got the most value from sessions that are fairly long but fairly infrequent. What’s of chief importance however – no matter how long the rendezvous – is that you’re adequately prepared; this will help prevent them from becoming too informal or conversational. Before embarking on your mentoring adventure ask yourself what you hope to get out of it and over what period you expect it to last – this is the best way to measure your progress.

You’re never too senior

The main message that I hope you take away from this blog is that you’re never too senior to learn something new or to benefit from support. You may know a lot but you certainly don’t know everything. What matters is that you’re constantly challenging yourself to learn and to do more by asking what if and what next, both in terms of your own evolution and that of the business. Start today.

Hopefully you found this blog valuable. Here are some other related blogs that you will also enjoy:

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