ROI OF MENTORSHIP
Understand mentorship’s impact on your organization
Calculate the impact of mentorship on productivity
Uncover the measurable benefits of mentorship programs on employee productivity.
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Percentage of employees in mentoring program
We typically recommend that you pilot with 20% of employees
Increased employee productivity
A study by Sun Microsystems found that employees who participated in a mentoring program had a 20% increase in productivity compared to those who did not participate.
Value of increased productivity
Formula: Priority Metric * percentage of employees in mentoring program * (1+increased employee productivity)
$2,400,000
Calculate how much mentorship can save you in turnover costs
Identify the value a mentorship program can have on your organization by increasing retention rates.
Number of participants (mentors + mentees)
Average employee salary
Average annual employee turnover rate
Turnover rates vary widely company to company but the average benchmark for US companies over the last two years is about 20% according to Gartner and Mercer data.
Cost of employee turnover (% of salary)
The costs of employee turnover vary depending on their seniority. For this calculation, we’ve set the default to 75% of the employees salary as that’s the average replacement cost for professional employees.
Reduction in turnover from mentoring
A study by Sun Microsystems found that several years after running a mentorship program, retention rates were an average of 70% versus 49% of those who didn't participate in the program. Therefore, we’ve set the default value to 30% as a benchmark to expect from your mentoring program.
Cost of employee turnover (annual)
The cost of employee turnover is calculated by first multiplying the number of employees by the avg employee turnover percentage to estimate the number of employees that will leave each year. Secondly, you multiply that by the cost of employee turnover (% of salary) to get the total cost.
$18,000,000
Value of mentorship (annual)
The value of mentorship is calculated by multiplying the reduction of turnover from mentoring (as a %) by the cost of employee turnover.
$5,400,000
Calculate how much time mentorship software can save you while pairing participants
Ditch the spreadsheets and see how much time you can save by using Together’s matching algorithm.
Number of participants (mentors + mentees)
Number of possible pairing combinations
1,440,000
Hours spent pairing without mentoring software
Calculation: 2 + (Number of possible pairings) / 60
24,002 hours
Cost of time spent manually pairing participants
The average hourly rate for a Director of Talent Development ($57/hour),
$1,368,114
Estimated hours spent pairing with mentoring software
This calculation is made by combining the average time required to set up the software and complete the pairing setup.
1 hour
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