Mentorship in the Workplace: 6 Companies Getting it Right

The time has come for the great baby boomer exodus. Every day, around 10,000 of those born between 1946 and 1964 are retiring. In their wake is a substantial gap in the workforce that recently graduated millennials will have to fill.

And while more Americans have college degrees than ever before, education alone isn’t enough to fill the void left by seasoned and experienced baby boomers.

Recognizing the shortage in experienced human capital, organizations are taking a more active role in preparing fresh candidates and young associates to take the reins and minimize the knowledge gap that may occur as employees transition.

Karl Moore wrote a great piece on mentoring millennials in Forbes. In it he quoted the great philosopher Immanel Kant, who said: “Immaturity is the incapacity to use one’s intelligence without the guidance of another.”

Companies that realize they must use their maturity to guide the next generation are the ones that will continue to grow and thrive.

So, if you’re looking to start your career on the right foot, or looking to build your own mentorship program, the following companies are worth investigating.

Companies with mentorship programs worth modeling

A quick Google search for companies with great mentorship programs will offer strong results. The following are a few companies that consistently show up on most lists:

1. General Electric

The multinational conglomerate that makes everything from your washing machine to life-saving medical devices is the sixth-largest firm in the United States, based on gross revenue. Determined to keep its reputation and brand strong, GE has developed an exceptional program for new graduates.

GE’s Commercial Leadership Program places participants in eight-month rotations within the sales and/or marketing areas of their particular business unit. Throughout the rotations, participants receive active coaching from experienced leaders within the organization.

2. Intel

Intel is one of the world’s largest chipmakers and is constantly innovating and pushing the limits of technology. Their creative culture has also affected their mentorship program. Instead of simply matching new candidates with veteran leadership, Intel looks to pair people based on the skills and interest of the mentee.

To help match the right people, Intel has each person entering the program fill out a questionnaire, with which helps identify skills and attributes. This process, Intel argues, helps overall company growth instead of just moving a few people up the corporate ladder.

3. Caterpillar

You might have played with its model tractors or excavators in the sandbox as a kid. Caterpillar is more than just digging dirt. It has a complex portfolio of brands. Excuse the cheap pun, but Caterpillar is molding and grooming the next generation of leaders via a two-to-three-year professional development program.

Participants learn basic skills around technical competence, develop and refine their leadership skills, gain exposure to senior management and develop long-lasting relationships with all of the program mentors.

4. KPMG

KPMG, one of the big four accounting firms, helps young candidates advance in their careers by preparing them for their CPA and actuarial exams. Participants connect with a peer support community and a CPA program manager who mentors them are they go through all their training. KPMG also provides interactive workshops hosted by past CPA exam writers. These workshops help candidates learn tips and tricks for exam writing.

5. Google

Most lists these days that feature innovative programs by leading companies include Google among the others listed. This compilation is no exception. As one of the world’s leading technology companies, Google’s reputation and success depends on attracting and maintain the brightest young talent available. Google broadens its mentorship reach beyond employees, and focuses on training talent not yet within the organization.

Each year, Google hosts Summer of Code. Students in the program write code for various open-source software projects while earning a stipend. The program boasts more than 8,500 successful student participants from more than 100 countries and around 8,300 mentors. Best of all, participants can earn employment within their areas of interest.

6. Zynga

While top mentor programs at Fortune 500 companies make the headlines, it wouldn’t be fair to exclude at least one example of a great program offered by a smaller organization. After all, more and more students are gravitating to smaller, more entrepreneurial ventures.

For example, Zynga, the social game developer, has almost 2,000 employees. But despite its smaller size in comparison to the corporate giants above, Zynga has created an impressive program to reach next-generation talent.

The focus is career development. Recent graduates start a one-week intensive program to help employees better understand the business. Then, over the next six months, employees are introduced to a variety of focus areas. Once finished, participants are more informed and better prepared when they choose which team they’d like to join.

Also, like Google, Zynga focuses on attracting potential employees. Zynga’s internship program offers interns all the benefits of full-time employees and the chance to explore personal projects while building professional networks.

Millennials are coming. In many cases, they’ve already arrived. Take advantage of this transitional phase and invest in your business’s future by leveraging the seasoned veterans in your company to teach the newcomers.

And when you’re ready to make your next hire, get started on our hiring page.