Mentoring has become commonplace over the past few decades, and having a mentor is now seen as part of a successful career. But why do you need one? What are the benefits? And, if you want one, where do you find one? Finally, what should you do if you’re asked to mentor someone yourself?
Why have a mentor?
A mentor is both a sounding board and an adviser. They help you make better decisions and get ahead in your career. They can advise you on the skills you need, assist you in building networks, and act as confidantes. They help you with goals and development. They’re particularly useful if you’re making big career changes — such as a significant promotion or a move from one sector to another — or when you’re stuck in a job and can’t see the next step. There’s a common belief that mentors are for entry-level staff — but they can benefit anyone from ambitious juniors to senior managers.
What’s the difference between a mentor and a coach?
There’s undoubtedly a significant overlap. But a mentor is more likely to be giving you the benefit of their own business experience, and the relationship tends to be longer-term, less formal, and more focused on your overall career and less on day-to-day issues. Coaching also usually involves paid, trained professionals (such as business psychologists), while mentoring is more likely to be voluntary.
What makes a good mentor?
Not everyone needs the same kind of mentor, so think about your own requirements. If, for example, you are working your way up in a large organisation, you may want someone who knows the company inside out and is a seasoned political operator. If you’re new to a sector or function, it could be a person who is an expert in that field. Or, if you are an entrepreneur, it might be someone with experience who has taken several startups to IPO.
You want to look at personality, too. It should be someone you respect and like. Similar interests (outside of work) are good, as they can help build the relationship. But you’re not looking for a friend or a therapist. You want someone who will push you, question you, and tell you hard truths when you need to hear them. Whatever the case, they should have experience you can draw on and, ideally, be something of a role model.
Where should I look for my mentor?
A good first port of call is your own company, which may have a mentoring programme. Having an in-house mentor is particularly useful if you’re junior, as they will have more experience within the organisation than you. But this is not the only way. There are numerous mentoring organisations — and, especially if you are more senior, the objectivity that comes from an external person may be welcome. You might also find mentors in your own network or seek out people you admire. There is also the AICPA & CIMA Mentoring Programme which is open to all CIMA members and strategic level candidates and has 1,600 participants worldwide.
How do I ask someone to mentor me?
Obviously, if you’re being formally assigned a mentor, this isn’t an issue. But if you’re approaching someone you would like to be your mentor, you need to be strategic and proactive. Research the person and prepare a case — show them that you understand their career and achievements and haven’t just picked a senior person at random.
For this reason, you should look at people who aren’t just the obvious big names. Instead of approaching the finance director, approach their deputy or someone on the senior finance team. Work on building a relationship with the person in question. You might start slowly by asking someone for small bits of advice at first. This is a good way of sounding them out and getting a feel for whether they’re right for you. But there is something to be said for just coming out with it and sending them an email — people find being asked for help very flattering, and they may well admire your initiative. Besides, the worst they can say is no.
(For additional tips, see the FM article, “6 Tips for Asking for Help Improving Professional Skills.”)
How does the relationship work?
Mentoring comes in all shapes and sizes. It can be a formal arrangement where you see someone once a fortnight for an hour, or it could be someone you call occasionally for advice. Here, it’s worth remembering that you don’t just have to have one mentor — especially if the relationship is less formal.
Regardless, you should engage with the process fully and show respect to the person who is giving up their time to help and guide you. Prepare for sessions with them — think about your challenges and career progress and make a list of topics you want to discuss. These might include observations and points you think will interest them.
You don’t have to take all your mentor’s advice. But you should always listen. Keep an eye on the progress of the relationship, too. Your career needs may change, and, if they do and the sessions are becoming less useful, you should end the mentorship. It is quite likely that you will have several mentors at different stages of your career.
What’s in it for the mentor?
People genuinely like helping others, and this is particularly true of those at the later stages of their career. Many senior leaders want to give something back and build a legacy. Mentoring is a very personal way of doing this, and watching mentees succeed and progress can be almost like watching your children do well.
It’s also, for the mentor, a good way of staying relevant. They have a direct line into the concerns and goals of someone much closer to the “shop floor” than they are. It can become a two-way thing, with the mentor using the mentee as a sounding board for ideas they intend to implement. For the mentor, it’s also a really good way of networking. Mentees tend to be people who are going places, and they are likely to remember their mentors well. They will often return to them later in their careers with everything from requests to be non-execs to business opportunities.
Visit the Global Career Hub from AICPA & CIMA for help with finding a job or recruiting.
— Rhymer Rigby is an FM magazine contributor and author of The Careerist: Over 100 Ways to Get Ahead at Work. To comment on this article or to suggest an idea for another article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.
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Articles
“Strategies for Advancing to the C-Suite”, FM magazine, 18 April 2024
“Mentoring at CPA Firms Fosters Strong Leaders”, AICPA & CIMA Insights Blog, 30 September 2023
“An Apprentice’s Success Starts With a Mentor”, AICPA & CIMA Insights Blog, 9 November 2022
“6 Tips For Asking For Help Improving Professional Skills”, FM magazine, 17 November 2021
“How Reverse Mentoring Works”, FM magazine, 16 December 2019
AICPA & CIMA Mentoring Programme
The Mentoring Programme is open to all CIMA members and strategic level candidates and currently has more than 1,600 participants worldwide. It has two cohorts each year in January and July. Once paired with a mentee or mentor, the frequency and format of your sessions are up to you, allowing for a flexible and tailored mentoring experience. Frequent virtual training sessions are available, as well as a large library of online resources to support members on the programme.
