The Value of Mentorships for Women

A mentor provides support, advice, and even professional opportunities to individuals in the early stages of their careers. Strong mentorships have the potential to make a lasting impact on success – and for women in particular, they can be instrumental in closing gender gaps in leadership positions as well as in fields like science, technology, and math.

As of 2023, only 10.4% of Fortune 500 companies are led by women CEOs.¹

Today, women make up more than half of all college graduates in the US² – there is no shortage of qualified, educated female candidates for employment and promotion. However, the representation of women in leadership still lags far behind that of men. In the US, roughly 40% of mid-level managers are women, a number that falls drastically in senior-level positions such as vice president or CEO.³ As of 2023, only 10.4% of Fortune 500 companies are led by women CEOs.¹

Many factors contribute to the gender gap in leadership. Among them is a lack of career development support and mentorship opportunities specific to female students and professionals. Mentorship for women can help more young women climb the career ladder, closing the leadership gender gap over time.

Why Are Women’s Mentorships Important?

When women mentor women, both parties benefit. While a person can act as a mentor at any stage in their career, young professionals tend to seek out more experienced mentors who can also provide much-needed support, feedback, and encouragement. The guidance mentees receive from a more experienced professional can help women in the early stages of their careers build upon their skills and gain confidence in their fields. Mentors can also help young women set goals, expand their professional networks, and ultimately grow in their careers.

When women mentor women, young women gain the opportunity to connect with and learn from more experienced women in their field. Female mentorships in the workplace can also help young professional learn how to better navigate the career ladder, especially in fields that are largely male dominated. Through women’s mentoring, more young female professionals can also meet mentors who can help them expand their professional networks and recommend them for future promotion opportunities.

Women’s mentorships lead to benefits for the mentor as well. Taking part in mentorship helps more advanced professionals hone their skills, grow as leaders, expand their own networks, and gain confidence. Being a mentor can also help professionals feel happier at work – according to a recent MentorcliQ study, 83% of mentors and mentees reported increased desire to stay with their organization because of their mentoring experience.⁴

Mentorship at Bay Path University

Available only at The American Women’s College (TAWC) of Bay Path University, the We Empower Learners and Leaders (WELL) Program is designed to help students develop leadership skills and build the confidence to excel as professionals in their fields. For students seeking women’s mentorship, the WELL Program offers the opportunity to build a supportive network of peers and young professionals with similar goals.

The WELL Program explores topics such as virtual leadership, team dynamics, boundary setting, virtual networking and more through three courses:

• WELL 220: Student Success Skills
• WELL 350: Professional Development Skills
• WELL 440: Leadership in Practice

Through the WELL Program, TAWC students develop their leadership styles and learn how to advocate for themselves. One student who completed the WELL Program shared that the courses, “provided tools to identify challenges women face in striving for leadership, resources, and strategies to use as guidance for resolution” Other student testimonials report increased feelings of empowerment and motivation.

Other Women-Led Mentorship Programs

The value of mentorship for women is undeniable. Beyond helping young professionals build skills, gain confidence, and ultimately move into leadership roles, women’s mentorships can also improve outcomes for the companies that employ them. According to recent research from McKinsey & Company, gender diversity on an executive leadership team is linked to higher profitability for companies across all geographical regions.⁵ When companies support women’s mentorships, they not only contribute to efforts to close the leadership gender gap – they also make an investment in their own future.

83% of mentors and mentees reported increased desire to stay with their organization because of their mentoring experience.⁴

There’s no shortage of mentorship programs that promote women mentoring women. You may also consider the following programs if you’re interested in women’s mentorship.

Dream Mentorship

Dream Mentorship seeks to turn dreams into reality by providing women’s mentorship, education, and even seed funding for new ventures. This organization also hosts networking events and publishes resources including a podcast and blog. Dream Mentorship has fostered mentorships for women since 2018.

Million Women Mentors

Million Women Mentors seeks to keep more women in science, technology, engineering, and math (STEM) careers through state and global initiatives as well as corporate engagement. This program believes women’s mentoring is one of the most effective ways to support female professionals in STEM.

Ok Mentor

Designed for undergraduate students seeking women’s mentoring, Ok Mentor offers free mentorship and professional training. In this program, women seeking to enter creative fields are matched with a mentor for three one-hour sessions before moving on to a new mentor. This way, each mentee receives multiple perspectives on career development.

Project Grow

Created by Pass the Torch for Women, Project Grow fosters the education and professional development of women through mentorship. Lasting a full academic year, this mentorship for women includes one-on-one sessions, webinars, modules, and more.

Ruth Handler Mentorship Program

Named after the creator of Barbie, the Ruth Handler Mentorship Program for Women in Toys is open to women who work or plan to work in toys, licensing, and entertainment. It offers a four-month one-on-one mentorship for women as well as further networking opportunities for career growth.

Women in Tech

Women in Tech aims to close the gender gap in the technology industry. With over 200,000 members across the globe, this organization supports mentorship for women who work or study in science, technology, engineering, art, or math (STEAM) fields.

Women Who Create

Founded in 2017, Women Who Create has brought together over 1,000 women in mentorship relationships. This organization is open to anyone, but it is specifically geared toward women of color who work in in advertising, fashion, music, and technology.

Together, We Can Close the Leadership Gender Gap.

At The American Women’s College of Bay Path University, women are empowered to have a better career, a richer life, and a brighter future. With more than 40 online degree programs, Bay Path supports your career development through flexible, relevant courses and a nurturing online community. Learn more about TAWC and the WELL Program today.

Sources

1. Hinchliffe, Emma. “Women CEOs run 10.4% of Fortune 500 companies. A quarter of the 52 leaders became CEO in the last year.” Fortune. June 5, 2023. Retrieved Nov. 7, 2023 from https://fortune.com/2023/06/05/fortune-500-companies-2023-women-10-percent/
2. Fry, Richard. “Women now outnumber men in the U.S. college-educated labor force.” Pew Research Center. Sept. 26, 2022. Retrieved Nov. 7, 2023 from https://www.pewresearch.org/short-reads/2022/09/26/women-now-outnumber-men-in-the-u-s-college-educated-labor-force/
3. Baird, Matthew. “Women Are Still Underrepresented in Leadership and the Technology, Information and Media Industry.” LinkedIn Economic Graph. Mar. 7, 2023. Retrieved Nov. 7, 2023 from https://economicgraph.linkedin.com/blog/women-are-still-underrepresented-in-leadership-and-the-technology-information-and-media-industry
4. Francis, Laura. “Women Mentoring Women Is More Important Than Ever. Here’s Why.” MentorcliQ. Retrieved Nov. 3, 2023 from https://www.mentorcliq.com/blog/women-mentoring-women
5. Hunt, Vivian; Yee, Lareina; Prince, Sara; and Dixon-Fyle, Sundiatu. “Delivering through diversity.” Jan. 18, 2018. Retrieved Nov. 15, 2023 from https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/delivering-through-diversity.