I’ve personally noticed that interest in Mentoring has been taking on a new life in the last few years. Likely, this is a result of the tough economic climate driving businesses to run lean and best leverage their top people; human assets, which can be readily further shared throughout the organization.

At the same time, in many professional fields having a personal Mentor is a desirable, basic expectation of Mentees seeking strong alliances and rapid personal career growth.

The truth is, whether an organization is being driven to leverage its valued employees to the max, or just professionally offers Mentoring as a career growth norm, the benefits are real and it’s worth any Company’s time and investment to establish a meaningful Mentoring program.

The benefits and advantages to Mentors are great, as well:

• Improves organizational insight
• Enhances personal value/reputation
• Extends personal reach
• Establishes personal relationships
• etc.

And, the organization secures its predictable rewards, too:

• Fast-tracks promising candidates
• Unifies thoughts/approach and drives culture
• Develops organization’s knowledge-base
• Promotes vertical and horizontal awareness
• Opens communication channels
• Motivates key personnel
• etc.

Interesting discussions are made elsewhere about Reverse Mentoring and challenges in Mentoring Millennials, but my focus here is on regular, Senior Mentor/more Junior Mentee arrangements.

Here are a few Key Pointers for Mentors to consider:

Basics of Mentoring

Programs may be company-sponsored or individually driven, inside your own company or without. Inside is generally preferred and Mentees should be outside of your direct management chain. Be sure you know real value you can offer and are at least one level up from the Mentee; two levels often magnifies advantages and is preferred. And, before you begin, secure permission(s)!

Finding the Right Mentee

Look for those with good promise and obvious upward-mobility potential. Candidates should understand and want the relationship; they should have good communication skills and demonstrate the ability to listen and follow-up.

Terms and Conditions (T&C’s) of Mentoring

This is a relationship with a typically, unwritten contract. Make sure appointments and availabilities are understood and respected on both sides. As it’s essential to build trust, informal meetings (over coffee or lunch, etc.) are invaluable. Be sure inputs and suggestions are offered quickly and that any delays made to check facts or possibilities are brief. Privacy is implicit, but Mentors can take on multiple Mentees if sufficient value is brought and adequate time is available.

What’s Provided during Mentoring?

First and foremost bring insights into the Formal and Informal Organization, sprinkled with practical help and guidance. Teach how to get things done, highlight alternatives with pros and cons. Offering career-path suggestions is a cornerstone of Mentoring, but always highlight risks and rewards. Mentors traditionally offer their own personal contacts to accelerate Mentee’s awareness, growth and development.

Ending the Mentoring When it’s Done

Lastly, you need to recognize and accept as unproductive any Mentoring situations that just aren’t working. Above all, gracefully and finally end the Mentoring when its usefulness is over. Some arrangements last forever and some just run a course. Circumstances can move a Mentor and Mentee apart either physically or intellectually, or needs are sometimes just outgrown. In any event, when you end the arrangement you must be sure this is done on a positive note, accepting the gains and celebrating achievements.

There is no doubt that Mentoring is a rewarding and beneficial experience.

So, take a look at your own situation. Can you bring such help to others? Would your standing and value in the organization benefit as a result?

Think about your career goals and how you want to be viewed. Perhaps now is the time to take on the challenge (and opportunity) to be a Mentor!

Ian R. Mackintosh is the author of Empower Your Inner Manager Twitter @ianrmackintosh