Informed by Chronus’ Mentoring Benchmarks tool, this groundbreaking report provides the most granular level of data to measure effective mentoring
SEATTLE, WA — Chronus, the leading enterprise mentoring platform used by the world’s top employers, today announces the release of their new Mentoring Benchmarks Report: Quit Navigating in the Dark, which spotlights benchmarks and best practices for mentoring programs across the areas of enrollment, matching and engagement. In tandem with the report, Chronus has rolled out the platform’s new Mentoring Benchmarks tool, which highlights a mentoring program’s performance in the three key areas compared to other similar mentoring programs. This helps customers better assess program performance, identifying areas of strength or recognizing weaknesses that need to be improved.
The information from the Mentoring Benchmarks tool was used to aggregate the data in the Mentoring Benchmarks Report. The report findings will help other organizations running mentoring programs to glean understanding and actionable insights to achieve greater mentoring success.
“Until now, gauging mentoring performance has been haphazard and tough to follow, much like the saying ‘if you don’t know where you’re going, any road will take you there,’ but with Mentoring Benchmarks, organizations now have clear signs to indicate whether they’re meeting their goals and how to focus on the biggest levers for their programs,” said Chronus CEO Seena Mortazavi. “The benchmarks and the report findings provide unparalleled and unique insight to mentoring success and the steps to pursue it. They also give program administrators and owners the ability to illuminate mentoring’s impact and intended solution to some of today’s toughest workplace challenges — burnout, productivity loss, turnover, employee connectivity and DEI.”
Chronus customers can now leverage the platform’s Mentoring Benchmarks to understand where their program performance stands in comparison to similar programs. The tool also offers ‘Next Best Action’ prompts to help audit scores and better understand areas of weakness. Prior to this, program owners and senior leaders saw their enrollment or match rates with nothing to compare to, unable to tell if their program numbers were good, bad or average.
Understanding the crux of this issue, Chronus took a deep dive into its extensive list of customers – 2,700 mentoring programs for 4.5 million participants across 189 countries – to aggregate the largest collection of mentoring performance data available for the report.
Key findings from the report:
- Mentoring program format (i.e. ongoing career mentoring vs flash mentoring) has very little impact on enrollment rate for a program
- Open mentoring programs have an enrollment benchmark of 88%
- Ongoing mentoring programs have the highest match rates of any mentoring formats
- Match rates for hybrid matching and admin matching programs are 18 percentage points higher than self matching programs
- Integrating an existing mentoring program with communication platforms such as Slack or Microsoft Teams increased engagement by 32%
“By making mentoring performance for enterprises more clear and easier to understand, executive sponsors and program admins can actually see how they’re performing compared to other programs – giving them greater insight into whether they’re thriving or failing,” said Sophie Williams, Chronus Director of Product Marketing. “This is also helping to better showcase mentoring performance to stakeholders and senior company leaders. Over time, we’re hoping Mentoring Benchmarks will bolster mentoring programs and facilitate greater improvements in retention, productivity, employee connectivity and overall employee wellbeing.”
Download the report and learn more about the mentoring best practices and methodology.
Mentoring Benchmarks Report: Quit Navigating in the Dark
Chronus empowers the world’s top employers to shape a future-ready workforce, delivering mentoring software that unleashes the full potential of their people. Powering thousands of programs for millions of people, Chronus has been the market maker and innovator in mentoring software since the company was founded in 2007. The most innovative organizations in the world, such as Amazon, Edward Lifesciences, Electronic Arts, McGraw Hill and Uber rely on Chronus every day to power their inclusive and future-ready mentoring programs.