Is mentoring software profitable?

So you are concerned that Mentoring Software will become another bill added to your expense sheet? We get it. You are working hard to increase profits and maintain a business. The last thing you want to do is integrate cost prohibitive software.

Rest assured, if you choose the right mentoring software the ROI will always be positive. If you are a team leader, top executive, HR practitioner or anyone thinking about implementing a mentoring program this post is for you. Mentoring Software is not nearly as costly as trying to run a mentoring program manually without any assistance.

Mentoring software saves in multiple ways.

One – Time is Valuable

HR leaders, Program Coordinators and other executives aren’t brought on for the sole purpose of managing a mentor program. They have other duties as well. Without mentoring software, a mentoring program can become a distraction from their other job duties.

For example, say your Program Coordinator’s salary is 100k a year. If it takes them two week full time to setup a mentoring program this is 4% of their salary cost, roughly 4k. This is only the setup time. We haven’t factored in time throughout the year manually managing the program. If you do the quick math on how much time needs to be invested by your Program Coordinator to recruit, launch, promote/market and operate the mentoring program manually the cost builds up fast.

Mentoring Software not only gives those two weeks back, but automates the mentoring program for the course of the year. Not only does it reduce time consumption, but software improves the overall delivery of the program.

Two – Immediate cost isn’t the only factor

Maybe it is cheaper to have someone setup the mentoring program manually. But, programs that are manually setup are not easily scalable. They also suffer in quality. Will one person really be able to manage every aspect of the program through a mishmash of emails, text messages, google calendar alerts and excel spreadsheets?

When a person is spread too thin, quality suffers. Actions may get done but attention to detail is missed. Mentoring Software solves all these problems. It enables the user to seamlessly scale and handle every aspect of a mentoring program. The right software is also totally customizable to present a high quality service to any organization.

Three – Mentoring Software Automates Tedious Tasks

There are multiple tedious and time consuming tasks when it comes to building a mentoring program. Mentoring Software takes cares of these tasks for you.

Matching
The best way to match is to use algorithms that are built into mentoring software. Without these algorithms participants either have to match themselves or fill out detailed profile pages which enable program creators to manually match. Either way, it takes a long time. Mentoring Software takes out all the time and effort by using simple surveys and questionnaires to gather the applicable data from participants and matches participants precisely.

Analytics
Without software you have to come up with your own analytics, conduct your own satisfaction surveys, manually gather feedback and compile information into a report. Software has all this data built into it. A few clicks and any report or analytic can be produced saving countless hours of headache.

Guidance and Support for Participants
Can you afford to have your Program Coordinator provide support to participants? They won’t have time to guide everyone themselves. How will they even find out if someone needs support? In a manually setup mentoring program there is no way to detect when intervention is needed.

Mentoring Software like WisdomShare will tell you exactly what you need to know when you need to know it. It can point you to real situations so time can be spent ensuring participants feel supported by a real person. Only those who need help are helped. No time is wasted sifting through emails and spreadsheets looking for trouble spots.

The Bottom Line
Mentoring Software does cost money. But that money is made up for in quality and maximizing time at work. You are also giving your staff tools that enable them deliver a quality mentoring program that results in engaged employees and increased productivity.

Mentor Resources can help any company or government agency to leverage technology to create tailored career development programs that are cost-effective. Our mentoring software - Wisdom Share is a cloud-based program that is simple and comes with guided workflows. Included are tools for administrators to attract, enroll, connect, and guide participants. We also provide analytics to ensure you can monitor your employee development program and easily see ROI metrics.

Reach out to us today for a Free Demonstration of our software.