Why mentoring is important for young professionals

 

Most people who are successful end up that way because they’ve sought out mentors to show them how to reach the top. In this blog, we will provide you with the valuable resources and information about why a mentor is so valuable to your career progression.

1. Mentor advantages
A mentor can be viewed as a kind of workplace parent – someone who can warn you against making short-sighted moves that could damage your career and instead encourage you to do those things that may be uncomfortable at first but will reap great rewards in the future.

Experience is a valuable thing. And while there’s no substitute for earning it the hard way, there’s also no rule against leveraging the wisdom of others.

A true mentor will provide honest feedback on how you’re performing and offer suggestions on how to improve your performance. They may also introduce you to people in their own network who can further your career.

2. When to search for an mentor
There is an old saying that when the student is ready, the teacher appears. The 21st century version is that when you feel you have something to learn – be it technical skills, management skills or even life skills – you’re ready to seek out a mentor.

3. How to find a mentor
People often agonise over where to find an appropriate mentor, but it’s really not that hard. In fact, if you think about it, you’ve almost certainly been mentored throughout your life by relatives, former teachers and sports coaches.

The best way to find a mentor is to simply contact someone you admire – even if you don’t know them – and ask them if they would be interested in mentoring you. After all, imitation is the sincerest form of flattery.

There are no hard and fast rules about what makes a good mentor. If the individual in question is someone you respect, can teach you what you want to know and help you get where you want to be, they’re almost certainly good enough for your purposes, regardless of their location in the org chart, industry reputation or educational qualifications.

4. The mentor–mentee relationship
Like any other relationship, mentor–mentee relationships go through phases. In the early days, there may be a lot of enthusiasm on both sides, with the mentor flattered that someone is so interested in what they have to say and the mentee eager to learn all they can.

Over time, that initial enthusiasm will fade and interactions might become less frequent. And, if the mentor has done his or her job properly, at some point the mentee will have learnt all they can. At this stage, the parties involved may decide to stay in touch or go their separate ways.

However the relationship unfolds, the mentee should always show the appropriate gratitude and respect towards the person who has chosen to help them out.

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The Tax Institute offers a Young Practitioners Mentoring Program for its member. Speak to a membership adviser on 1300 829 338 now for more information, or contact an adviser here.

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A helping hand up the career ladder

Ralph Waldo Emerson once declared: “What I need is someone who will make me do what I can.” As it turns out, it’s not only poets who need a helpful push to reach their potential.

How a mentor can help you

"The first step to finding a good mentor is, of course, coming to terms with the fact that you actually can benefit from having one," says billionaire Richard Branson. Undertaking the right tax course is necessary to have a career in the tax industry, but a mentor can help that career become great.

A wise and experienced mentor can:

• Prevent you from making rookie mistakes.
• Let you tap into their network of contacts.
• Reassure you and motivate you when you experience setbacks.
• Provide advice on how to improve both your technical and people skills.
• Act as a sounding board when you need to make big decisions, such as whether to invest in more tax training.
• Diplomatically point out your weaknesses and show how to improve them.
• Identify your strengths and suggest how you can better leverage them.
• Provide the kind of perspective that only comes from age and experience.

Finding a mentor

The good news is that finding a mentor has never been easier. Many companies – including all the 'Big Four' firms – have mentoring programs, and you can also find a mentoring match through the Small Business Mentoring Service or the Australian Businesswomen's Network.

If you want to identify and approach someone without going through a middleman, you can always attend the networking events featured on The Tax Institute's calendar and see if you run into anyone inspiring.

It can even be as simple as picking up the phone, reaching out via LinkedIn or sending an email to someone you admire to ask them to mentor you – they're likely to be flattered you even asked.

How to be good a mentee

Unless they are retired, your mentor is probably going to be someone in a senior position with lots of demands on their time. Respect the time they are selflessly giving to you by turning up to appointments and arriving well prepared with a list of issues you want to discuss. Mentor–mentee relationships can take many different forms, but keep in mind that it is meant to be a business-focused relationship and your mentor may not wish to hear about, or provide advice on, your personal life.

Finally, always show your mentor gratitude and respect, especially when bringing the relationship to a close.


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