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Why mentoring matters in a hypercompetitive world.

Thomas J DeLong1, John J Gabarro, Robert J Lees

  • 1Harvard Business School, Boston, USA. tdelong@hbs.edu

Harvard Business Review
|February 15, 2008
PubMed
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Professional service firms (PSFs) can reduce employee turnover by revitalizing their mentoring programs. Focusing on personalized guidance, supporting all employees, and fostering mutual learning offers a competitive advantage.

Area of Science:

  • Business Management
  • Organizational Psychology

Background:

  • Professional service firms (PSFs) face challenges like global competition, regulation, and high employee turnover.
  • Attrition is particularly significant in people-oriented industries like PSFs.

Purpose of the Study:

  • To explore how PSFs can gain a competitive edge by renewing their focus on mentoring.
  • To identify key principles for effective mentoring in PSFs.

Main Methods:

  • In-depth interviews with professionals from over 30 PSFs.
  • Analysis of mentoring practices and their impact on employee retention and development.

Main Results:

  • Mentoring should be personalized, not standardized, with authentic advice and nurturing.

Related Experiment Videos

  • Attention to 'B players' (70% of staff) yields significant returns.
  • Alternative learning opportunities like shadowing and non-client projects are crucial.
  • Mentoring is a reciprocal process where protégés also attract and co-mentor.

    • Conclusions:

    • Revitalizing mentoring offers PSFs a competitive advantage.
    • Implementing personalized, inclusive, and reciprocal mentoring strategies can combat attrition and build expertise.