Mentoring programs are on the rise as more and more companies realize the benefits. But who reaps the rewards? The mentor, the mentee, or both? The short answer – both. Mentoring can be impactful, especially for professional women.

As more companies acknowledge the many benefits of mentorship programs, some have started to implement them across all levels of the company. According to MentorcliQ’s 2022 Mentoring Report, 84% of Fortune 500 companies have mentoring programs. This finding is 10% higher compared to a 2018 study from PSA Financial Advisors. But the growth shouldn’t come as a surprise. Three-quarters of executives say mentoring has been critical in helping them reach their current position.