Mentoring has benefits for both sides of the partnership

Mentors tend to be unsung heroes. If asked to explain their success, many who have reached the pinnacle of their professions would cite the influence of a valuable mentor among the many factors that helped them achieve their goals.

Mentoring is often discussed in terms that note its value to those being mentored, but mentors also gain much from the experience of helping the people they advise. That’s worth noting for successful individuals over 50 who are looking to make the most of their professional experience by giving back to others.

Professionals thinking of becoming a mentor can consider the many ways the experience could be as beneficial for them as it is for the people they will help.

Mentoring provides a sense of satisfaction

An analysis by the human resources department at Sun Microsystems found that mentees are promoted five times more often than colleagues who do not have mentors. Many mentors gain significant satisfaction from watching someone they helped advance through the professional ranks.

Mentoring is effective

Professionals over 50 who are hesitant to become a mentor because they suspect it might not be effective can rest easy knowing that it has a profound and positive impact on mentees. According to a recent CNBC/SurveyMonkey Workplace Happiness Survey, nine in 10 workers who have a mentor reported being satisfied with their jobs. In fact, 57% of such individuals reported being “very satisfied.” The percentage of individuals without a mentor who report being satisfied or very satisfied is significantly lower.

The implication of that disparity is significant, suggesting that mentoring has a very real and positive effect on mentees. Professionals on the fence about mentoring due to doubts about its efficacy can rest easy knowing that it is highly beneficial to young workers.

Mentoring helps a diverse group of professionals

Professionals hoping for more diversity and inclusion in the workforce should know that workers in groups that have historically been adversely affected by a lack of diversity are more likely to have mentors. For example, data from the CNBC survey indicates that women are more likely than men to have a mentor, while members of various minority groups, including Hispanics and African Americans, are more likely to have mentors than whites.

Prospective mentors who want to create a more inclusive workplace can utilize mentoring as a tool to help various minority groups further their careers.

Mentoring can benefit your bottom line

Mentors typically pursue mentoring to give back. However, becoming a mentor can benefit your bottom line. The Sun Microsystems analysis found that 28% of managers who took on the role of mentor received a raise, while just 5% of those who did not mentor anyone received a bump in pay.

Mentoring can help young professionals in myriad ways. But experienced professionals also benefit in some surprising ways from advising younger colleagues.