BENEFITS OF MENTORING As we consider the inequities that already existed and have been exacerbated by COVID-19, employer-based youth mentoring programs have a unique and critical role to play in supporting young people in developing “linking” social capital, which forges connections across power differences and “bridging” social capital, focused on building relationships across the divides (race, class, ethnicity, etc.) that exist in our City28. The private sector in New York City must take a step forward, in partnership with the local policymakers, education leaders and nonprofit organizations, and invest through intentional, mutually beneficial action and direct connection to its future workforce, NYC’s youth. By expanding young people’s access to “resource-rich relationships”,29 particularly among youth of color, an intervention of this kind allows for greater career exploration and success over time. Investing in youth mentoring through programs like the BBBS of NYC Workplace Mentoring Program offers economic benefit: research concludes that every dollar invested in SEL results in an $11 economic return30 and that supporting a disconnected young adult costs approximately $16,000 per year.31 Conversely, keeping young adults connected and engaged has the potential to generate over $4,000 in New York City and State tax revenues each year.32 Beyond the long-term financial returns, employees at organizations that host mentoring programs report greater job satisfaction and “a more positive perception” of their employer.33 Employees at organizations engaged in mentoring also generate benefit beyond
their company walls. In a MENTOR’s 2019 Report “Fueling a Relationship Movement”, researchers found that 72% of employees surveyed at companies where the employer was involved in mentoring were engaged in mentoring in some way as compared to 25% of employees at organization where the employer was not involved or where employees were unsure.34 Additionally, according to the Brookings Metropolitan Policy Program, access to work-based learning that incorporates positive relationships with adults and earlier experiences in the labor market are indicators that youth will achieve career success in their adulthood (Child Trends, 2018).35 This further reinforces that the private sector has an integral role to play in igniting potential. Leveraging the components of the “developmental relationships” not only benefits youth and their development but also their future employers. “Sharing Power” builds skills like situational judgement, selfassurance and leadership while “Expand Possibility” can involve engaging young people in problem solving to address barriers to success.36 These skills are some of the most sought after and highly prioritized by employers for all candidates, regardless of industry.37 By investing in building these skills through reciprocal, developmental relationships, employers across the City can also better prepare themselves to welcome the next generation into the workforce, learning about their needs, wants, motivations and unique perspectives, thereby positioning themselves as an employer of choice. Reports indicate that Generation Z is focused on the social values and organizational culture of a company as they make choices about both
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