The mentorship opportunity: how to build skills from within
Knowledge and skills are essential strategic resources for businesses. 2021 Research has found that sharing knowledge leads to more innovation, greater creativity and better performance.
In a competitive market with significant gaps in skills and capabilities, you have an opportunity to build internal capabilities – by identifying and encouraging senior staff to share their knowledge and skills with others in the team.
Building skills from the inside
A 2021 survey of marketing practitioners by ADMA found there are some kinks in the flow of knowledge and skill sharing between senior and junior marketers.
Executives are doing well at sharing their strategy quadrant capabilities, such as goal setting, strategy, and planning. But when it comes to mentoring juniors in opportunity, insight and learnings, they have a way to go.
There is a large gap in knowledge between senior and junior marketers across positioning, portfolio, segmentation, new product development and propositions.
Mid-junior marketers are also less involved in innovation, which leads to fewer opportunities to learn on the job. Developing these skills takes time; senior leaders need to invest early in mentoring.
Creating more connected and productive teams
To build an effective mentorship program, you need to address a number of things first.
Leaders need to understand the value of sharing experience, insights and skills in the context of reaching organisational goals. If they don’t believe in this, they’re less likely to make it a priority.
Setting the right framework is important in creating a culture of sharing and mentoring. From the onboarding experience to using technology that enables the free flow of information, you need to explore the employee journey and identify the right content, support and environment that encourages inclusive and open sharing.
Start by identifying existing skills and knowledge as well as any gaps within your team. You can then use these insights to develop a mentorship or coaching plan that will help you fill the gaps internally.
The benefits of knowledge sharing
Knowledge sharing has many benefits for not only individuals and teams, but the entire business.
- Spot high potential talent
Through the mentoring process, you can identify people with great potential. You can then work with them to build a development plan that sets them on the right career path – keeping them highly engaged and motivated.
- Improve culture
Demonstrating a clear career path through short-term coaching and longer-term mentoring can also improve the overall company culture.
- Engage and retain talent
Knowledge sharing and mentoring programs create more employee engagement, improving morale, retention rates and helping attract the right talent.
- Increase profitability
Engaged employees are also more productive and make fewer mistakes. Companies with highly engaged people are 21% more profitable than those with poor engagement. By sharing existing knowledge from within the business, you can create more individual experts, who are more confident and effective in their roles. By sharing knowledge, senior marketers also empower their teams to problem solve proactively – giving leaders time to focus on strategy.
- Nurture personal connection
More open sharing and mentoring can also greatly benefit relationships between staff. It can build deeper and more meaningful connections, which further improves company culture and collaboration.
Finding the skill gaps in your team
The necessary skills of successful marketers are constantly evolving;if you’re not sure where your team’s capabilities sit, you’re not alone.
The ADMA Marketing Skills Assessment can identify your team’s strengths and offer insight into development opportunities. It provides a real-world blueprint to develop capability and give you and your team the skills you need to generate actionable insights and engage customers now – and in the future.