Men more likely to be mentors than women in UK’s SMEs

Male senior decision makers in SMEs are more likely to be a mentor than their female counterparts, according to the latest Close Brothers Business Barometer survey of small and medium sized businesses in the UK and Ireland.

More than half of male decision makers in SMEs (53%) say they have been a mentor to a less experienced colleague, compared to 45% of females in senior roles. This 8% difference is especially significant given that in 2019 The Cranfield Report estimated that less than 10% of executive directors in the UK’s most successful businesses were women.

In contrast, when it comes to participating in mentoring schemes, women are marginally more likely to have taken part in learning opportunities. More than a third of all female senior decision makers (37%) say that they have been mentored, compared to 33% of male senior decision makers.

Men and women gain similar benefits from mentoring, with 95% of those who have been mentored saying it has helped their career. More than half of people say a scheme aided the development of leadership and management skills (58%), and other top benefits included enabling mentees to focus on their career goals (43%) and increasing confidence (42%).

Those who have been mentors also benefit from helping less experienced colleagues and businesses, profiting in a similar way to those they worked with. Two thirds of mentors say that advising someone helped them to develop leadership and management abilities (63%), and half say that is improved their communication skills (52%). Two fifths also say it made them more confident (41%).

Overall, 75% of all senior decision makers agree that mentoring has an important role to play in development and two-thirds of SMEs (66%) have a mentoring scheme for their staff. The prevalence of these types of programmes grows with company size, with 82% of companies with more than 60 employees offering them.

David Thomson, CEO of Close Brothers Invoice and Speciality Finance, said:

“It is positive to see that SMEs are encouraging employees to support one another through mentoring schemes. Regardless of gender, the senior members of any business have a wealth of information and expertise to share.

“While we tend to focus on what those being mentored gain from these programmes, senior figures can benefit too. From offering commercial insight and financial acumen to being a side-line supporter, mentors can help foster the success of others and learn about their own skills in the process.

“These kinds of relationships need not be formal, but they can be fruitful for everyone involved.”