While most companies see the benefits of implementing a mentorship program, 66 per cent of Canadian companies surveyed do not have one in place.
A recent Harris Poll commissioned by Express Employment Professionals determined that while 75 per cent of companies have had employees retire in the last two years, most do not have programs to ensure retiring employees pass on valuable institutional knowledge.
"A mentorship program in companies is like a shortcut to success,” said Bill Stoller, Express Employment International CEO. “It's a practical way to transfer knowledge, refine skills and foster a culture of continuous improvement. By connecting experienced individuals with those eager to learn, companies not only boost employee development but also build a stronger, more collaborative workforce."
The poll also determined that having mentorship programs helps with employee attraction and retention. The survey found that 87 per cent of job seekers found companies that offer mentorship programs attractive.
The companies that do have mentorship programs (34 per cent of those surveyed) say the programs help to re-skill employees, cultivate greater connections between employees, attract prospective employees and reduce brain drain.
Currently, workers aged 55 and over account for more than 20 per cent of Canada's labour force. As these individuals prepare for retirement it will put a strain on the Canadian economy.
