📣 Mentorship in 2024. A new set of rules for a new generation (part 2)

The question that frequently gets asked, is “How do I get mentored properly at work, especially when I barely see (in person) my colleagues and leadership team”?  The virtual workplace is our new reality, with 25% of all professional jobs in North America expected to be remote by the end of the year (Ladders, 2024). Yet, even from home, mentorship remains a cornerstone of career advancement.

Navigating mentorship in 2024 is more crucial than ever; here’s a brief compass to assist your journey:

Start your quest for mentorship by self-reflection. Identify areas for growth and the type of guidance that aligns with your career path. In the words of a Deloitte study, 68% of Millennials who intend to stay with their organization for more than 5 years have a mentor, underscoring mentorship’s value.  Try to be somewhat focused in your goals and aspirations. Are you aiming for a partner role in a private equity firm, managing a hedge fund, or leading a financial startup? Approach potential mentors with a clear vision of your goals, whether they be personal or professional.  Setting clear objectives helps you pinpoint the mentor who aligns with your journey.

Now, engage in the art of conversation AND in person interaction. Do not be shy.  People want to help and share their experiences with you.  A recent survey by Heidrick & Struggles shows that 79% of all top-tier managers pinpoint mentoring as a pivotal element of career growth. Don’t miss out on this growth lever.  Most, if not all want to give back!

Scour your networks (professional and personal), (LinkedIn & social media included) for industry leaders with a record of nurturing talent, even if they are outside of your industry.  Comment on posts, share insights, and engage meaningfully with thought leaders in finance. A 2023 LinkedIn report indicated that active engagement increases your visibility and the likelihood of forming professional relationships.  When considering potential mentors within your bank, hedge fund, or PE firm, look for someone who’s not only successful but also exhibits a genuine interest in mentoring. Try to think outside the box a little…..

Once onboard, establish structured mentorship sessions with regularity. Set realistic goals for what you hope to achieve through these interactions, be it skill enhancement, strategic thinking or personal development. Foster relationships organically by attending industry conferences, networking events, or even via social interactions. Keep it professional, value their time, and express clearly how their guidance could shape your path. Remember to foster a genuine relationship. Mentorship is more than just career advancement; it’s also about personal growth.

Act on feedback with intentionality. According to Forbes, a staggering 92% of workers agree that constructive feedback, if delivered appropriately, is effective at improving performance. A study from Gartner found that employees who receive daily feedback from their mentors are 3 times more likely to thrive in their roles.  Embrace it, refine your skills and strategies, and evolve professionally.  Chart your mentorship journey and celebrate milestones, both small and large.

Remember, the right mentor acts as a beacon steering you through the complex waters of your career. Hopefully, these suggestions will help you harness the full power of mentorship in the rapidly evolving world of finance services.

Happy to hear your thoughts. Please share your insights with me.

Feel free to reach out directly to discuss this topic further as well as any other questions or concerns regarding the current hiring climate. I guarantee that in our call together you will leave with 2 or 3 ideas that will greatly impact your ability to find, attract, and procure the top 10-15% of the candidate pool on a consistent basis.


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