From mentee to mentor: the benefits mentorship provides for women in business

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March marks Women’s History Month. It is a time to honor the strong, brave women who have broken down barriers, shattered glass ceilings, and blazed trails for future generations. During this time, we celebrate women’s contributions to American history and contemporary society, including women in business.

Mentorship is one way to uplift and celebrate women in business, especially in fields that are predominately male. In public accounting, recent reports show that only 23 percent of partners in CPA firms in the U.S. are female. While progress is being made, more can be done to encourage women to join the field and move up to leadership levels.

Mentorship can help pave the way for the next generation of women leaders in any industry. They can offer insights and advice and serve as a sounding board. Mentoring is especially important for the professional growth and development of accountants and CPAs, helping mentees gain access to opportunities, build their confidence, and pursue new ideas.

As we celebrate Women’s History Month, I can’t help but reflect on the early days of my career and my journey from a young mentee to the mentor I am today. When I started in the accounting industry at The Bonadio Group in 1986, the firm was made up of only 30 people, and there were no female partners. Today, we stand at 800 people across our ten offices and 39% of our partners and principals are women – which is well above industry standards. As the firm’s first female partner, I’ve learned many lessons throughout my career and through my mentorship experience. These are a few of the key benefits and value that mentorship can offer to all women in business.

Professional Development

Career growth and professional development are always top of mind for anyone in any stage of their career. As a young professional, my mentors provided many opportunities to grow in my career which included interacting with clients, shadowing partners and ‘learning by doing.’ These experiences helped build confidence and break down stereotypes that may have existed in a more traditional environment. The support and encouragement that a mentor provides to a woman during the early stages of her career can have a significant positive impact.

Support and Guidance

While managers and supervisors play important roles in helping professionals learn and grow, a mentor goes a step further by providing both big-picture perspectives and tailored guidance based on a mentee’s unique attributes and aspirations. A mentor also provides guidance about navigating specific challenges, such as the exceptionally busy tax and auditing seasons for CPAs.

Advice, Expertise and Knowledge

For young professionals starting out in the industry, there is a learning curve, and many will have questions on what to expect in a certain industry. Mentee’s learn insights from a more senior leader on expectations. Mentors provide specific insights and information that support a mentee’s success. I have learned many lessons throughout my career, and those experiences often inform the most important and valuable insights that I pass on to mentees.

Networking

Networking is important for any individual, but it is especially important for women. Mentors help to expand a mentee’s network and can open doors to make connections; especially as they pertain to career development. Making new connections for a mentee brings her one step closer to achieving specific goals.

The Value of Mentorship Programs

Mentoring programs deliver many benefits, all focused on providing support and guidance to help mentees grow and thrive. In that regard, mentorship programs can help with employee retention and satisfaction. The beauty of mentorship is that it is a two-way street. Like all great relationships, the benefits go both ways, so mentors can learn from their mentees and vice versa. How can you play an active role in supporting women in business during Women’s History Month and beyond? Become a mentor.

Kristen Clark, CPA and Syracuse Office Managing Partner, The Bonadio Group. She is a member of the firm’s Management Committee, Board of Directors and is our Syracuse Office Managing Partner, with responsibility for client service, partner and employee engagement, and market growth. Kristen is also Practice Leader for Bonadio’s Professional Excellence Division, which is responsible for risk management, quality, and education for the firm.

Disclaimer: The summary information presented in this article should not be considered legal advice or counsel and does not create an attorney-client relationship between the author and the reader.  If the reader of this has legal questions, it is recommended they consult with their attorney.