Driving Employee Retention & Purpose Through Mentorship

I see a number of older adults in my practice who, expecting retirement to be a time of fun-filled freedom, instead find themselves feeling depressed. This transition is very challenging. Like many, their job or career has been the default purpose for most of their adult life, so it’s not surprising that losing 40+ hours of that purpose each week suddenly creates a bit of an existential crisis.

On the flip side, younger generations, many of whom are forced to take jobs just to make ends meet, rather than make a living doing what they love, are experiencing a similar lack of meaning, engagement and connection. This – at least partly – has led to the quiet quitting trend among the workforce. Far from an identity problem, it is a reaction to being overworked and overwhelmed - a result of societal deficits in population and requisite skills. But it also underscores that our professional and personal lives must be linked by purpose and a feeling of connection for us to remain engaged.

At a time when companies are seriously challenged to find and hire skilled talent, there’s a great opportunity for employers to reconsider the important role that mentorship can play, both for older and younger generations. It is well-established that mentorship programs improve employee retention, loyalty and satisfaction. Yet, a study from Mentoring Canada in 2020 found that only 17% of employers in Canada support youth mentoring in some way, compared to 28% in the United States. And, nearly two-thirds of Canadian adults who would consider becoming a mentor in the next 5 years would be more likely to do so if their employer supported their involvement.

Given the current economic environment, nurturing and developing the employees you do have through mentorship has never been more important. On the one hand, many early and mid-career employees are trying to establish their leadership style and build resilience while on the other hand, those who are leaving – or have left – the workforce are struggling to maintain a sense of value and purpose. Mentorship offers a win-win solution for both, while improving a company’s culture and employee retention.

I see so many young people who desperately want to have a mentor, yet are intimidated to lean into these conversations and show vulnerability. All too often, though, they just can’t access this support, whether because their company has no formal programs available or they are reserved only for ‘high-potentials’. I believe that rather than something reserved for elites, mentorship programs should be democratized and inclusive – available at companies large and small – to the benefit of all.

The thing about quiet quitting is that it happens when people think no one cares about them or their career – whether they are at the start or nearing the end of it. Mentorship offers a solution where those who have decades of experience can be of service to younger people, which in turn is also a service to themselves in the form of relevancy and continued purpose. Also, learning is also not a one-way street. Nowadays, early career adults are much better at taking inventory of themselves with a greater sense of what fulfills them - traits that could benefit some older people. On the other hand, younger generations can learn soft skills and resilience, while benefiting from the wisdom of their older counterparts’ experience. More importantly, each can build new relationships and rapport that, when successful, can transform and transcend the workplace.

One of the biggest determinants of a person’s quality of life is their relationships. Fleshing out the definition of a successful life, you’ll find that it’s not only career-oriented but also relationship oriented. Especially in an increasingly digital world with remote work environments where we’re not having as many in-person conversations, mentorship can add a sense of belonging that might not otherwise be there, creating touch points that can be increasingly meaningful and powerful for both parties.

Whether you’re a proud Boomer, Gen Z or anyone in between, each generation has something to learn, or offer, that is of value. Perhaps there’s even room to be inspired by each other’s differences. Now that’s something worth exploring.