Current Environment
There is no doubt that the U.S. economy is experiencing some turbulence, which is having a domino effect on the global economy and forcing organizations to make tough choices concerning employees. Based on regular conversations with champions at more than 100 of our clients, we know that a number of organizations are facing environments of downsizing, restructuring, and hiring freezes, while trying to determine the best path forward with their mentoring programs. Promoting a mentoring program in these tough times can be difficult, but that does not imply that abandoning mentoring is the right approach. In fact, an economic downturn may be one of the best times to expand mentoring and leverage its proven value in retaining and developing workforces.

Management Recruiters International, Inc. (MRINetwork®), one of the largest executive search and recruitment organizations in the world, recently wrote an article titled “Guard Against Losing Good Employees When Times Are Tough.” As they starkly point out: “Even employees who have survived downsizing and who have been assured that they are valued by their companies may be thinking about changing jobs as soon as the economy improves. Often management is unaware of the level of dissatisfaction among workers and fails to take steps to prevent significant turnover….”

How can you avoid this situation in your organization? MRINetwork® suggests you:

• Make it easy for people to move within the company.
• Develop and educate employees continually and put them on teams.
• Help every employee build an internal social network.
• Provide a mentor.
• Communicate frankly and frequently.

We believe the recommendation of providing a mentor to employees, in addition to being a solid, standalone recommendation, also supports the first three policy recommendations and works to create a more engaged workforce.

By already offering your employees mentoring, you are well ahead of the curve on securing your future by retaining your talented workforce. By leveraging this practice to plan for the future and weather this economic downturn, you are well on your way to emerging from our current economic climate in a strong and enviable position. As Michael Jalbert, president of MRINetwork®, observes: “Those companies who emerge from shaky economic times with their key people intact are those that consciously initiate policies that foster employee loyalty.”

In a downturn, keeping employees motivated and engaged becomes critical. When a workforce contracts or business expands without new hires, everyone feels the crunch. Training budgets shrink, time commitments are stretched, and job demands grow. Web-based mentoring provides a cost-effective learning option where employees can tap into the knowledge resources that are still available in the enterprise and get the help they need to meet new job demands.

Expanding mentoring in the wake of downsizing and restructuring can be a way to leverage the experience of your top performers. Following a downsizing event, organizations should consider immediately targeting their high-potentials and top performers as mentors. This allows an organization's best and brightest employees to actively shape the future of the organization and have an integral role in the success of the company. Taking this approach means that not only will the mentees have the opportunity for continued development, but the mentors will feel more engaged and involved in the process of helping guide the organization through difficult times. Keeping employees engaged will help with loyalty and commitment so that when the economy rebounds and job opportunities increase, they will be more likely to stay with the organization that paid attention to them during tough times.

Recommended Actions
During uncertain times, it is critical to address the personal, professional, and career needs of employees. One solution is mentoring: a proven business strategy for increasing engagement, retention, and productivity. Organizations would do well to expand the use of mentoring following any downsizing and/or restructuring efforts. Open Mentoring® presents an efficient and cost-effective way to provide these self-directed learning opportunities, especially when budgets are stretched.

Specifically, we recommend working with your Triple Creek Account Manager to:

• Revisit the vision for mentoring within your organization.
• Identify key program integration points, especially in light of any downsizing and restructuring initiatives (e.g., involving high potentials in development processes is key in the wake of such changes).
• Develop strategies for securing senior stakeholder buy-in and support.
• Create communication and marketing plans to engage employees in mentoring.

It is vital that you stay in close contact with your account manager and work with him or her on your mentoring strategies, leveraging the expertise of our staff that is here to support you. Please do not hesitate to call or email us! We want your program to succeed, so please let us know if there is anything we can do to assist.

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