Your IndustryApr 27 2016

Standing on the shoulders of giants

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Attending a retirement celebration earlier this month has made me think about those people that have had an influence on my professional development. Some of those I would describe as mentors and I want to try to encourage you to take on this role.

A mentor is usually described as a more experienced or knowledgeable person who guides a less experienced person. It can be a formal or informal relationship and can last a little while or much longer.

Those of us with children will know the feeling of wishing we could somehow get years of life experiences and learnings into our children’s heads. Unfortunately, it is not possible and we have to sit patiently and wait for them to learn the hard way. I must admit, though, when my son told me he learnt how to wash up by watching a video online that I did feel I had failed as a mother. I felt immense frustration when I met an ex-pupil smoking in the toilets at work (as she had at school), she turned to me and said “I wish I had listened to what you said at school”.

So what can we learn and what can we share? The mentee may be new to the workplace, starting out in a new role or looking to change roles. The mentor may be a manager but could be someone working in another department or another branch.

In the past, I have seen concerns about having a mentor from a competitor firm. While there may be some potential conflicts of interest which will need to be managed, members of professional bodies or other networking groups can be excellent mentors.

If you have not ever considered being a mentor, do give it some thought. You may think you do not have the right experience or knowledge, but you would be surprised. The skills that you have as a financial adviser are very much the same skills that would make you an excellent mentor. I have seen financial planning and life planning described as coaching. Being able to ask the right questions, listen to the answers - what is said and what is not said - are all important skills for the adviser, but also the mentor.

So what can you pass on? I am sure that everyone has an experience where they made a mistake or spoke without thinking about the impact their words would have. If you could spare someone that same toe-curling embarrassment, would that be worthwhile? All those lessons you learnt the hard way, or by trial and error – could you share some of those? Something that I always like to pass on is the fact that if you have choices, you are always in a better place than without a choice. This applies to young people at school or college working towards qualifications as much as it does to the financial planner’s clients.

Like a good manager, a good mentor will want to see their mentee succeed. They will not feel possessive or jealous and they will celebrate the success of their colleague. To see someone that you have mentored or coached going onto great achievements is a wonderful feeling. I felt extremely humbled when at a team meeting, I heard about the positive impact I had had on colleagues. Sometimes you do not realise what value other people will put on your experience or knowledge.

Mentoring does not have to be face-to-face or in the same workplace; it can be done over the phone or even virtually. Some schools and colleges will run mentoring schemes where local employers can work with students – sometimes on a regular basis over a few weeks or months or for single events – like conducting mock interviews. If somewhere has supported you in your professional or personal development, think about what you can give back. Is there a less experienced colleague in your firm or another firm where you have contacts, could you make a difference?

Lucy Courtenay is a qualifications specialist