Why Don't More Senior Leaders Mentor?

Abstract

Large organizations are facing a pending talent drain when baby boomer generation senior leaders begin retiring over the next 3 to 5 years. As companies scramble to develop and retain their next generation of leaders, many overlook a cost-effective, tried-and-true method for engagement and leadership development—mentoring. According to the authors' 2-year in-depth research study with senior American business leaders across 20 different industries, mentoring engages high potentials, helps develop essential “soft” skills (e.g., “navigating the culture”), and sends the message that they are valued. It is unfortunate that many executives choose not to mentor, and they may, according to the authors, be mortgaging the future of their companies in the process. The authors have identified five of the most common excuses cited by senior executives who choose not to mentor (e.g., “It doesn't work”) and offer specific strategies to overcome the resistance that senior leaders have about mentoring.