Mentorship is a core component of every industry. Those with more experience and knowledge play a pivotal role in guiding those climbing the ranks. To build a diverse and inclusive team, mentorship becomes a necessity that yields significant dividends. And in the financial advisory industry, renowned for being male-dominated, mentorship will be critical to accelerate diversity and position the business for the challenges and opportunities that it will face in the coming decade.
The role of a mentor is a serious one. Research affirms that women who are mentored report higher job satisfaction, are promoted faster and earn more money. However, I have witnessed dozens of careers sidelined by poor advice from a well-meaning mentor. This relationship isn’t about rescuing, it’s about sharing perspective, experience and knowledge. It also isn’t about mentoring the “mini-mes” of the world, so double check who you are mentoring and make sure that it includes those who are different than you by race and gender.
From my perspective, these are the critical elements to being a strong mentor:
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