Given the cost of efforts to recruit, hire, orient, and train new employees, it is no wonder that one of the biggest efforts being made in the corporate world is to use mentoring to increase retention of those employees. This is especially the case with minority employees which the businesses want in their work force. Companies involved in science, engineering, technology, and dozens of math applications like statistics want women and other minorities to join their ranks and to succeed and stay to contribute.
It’s a protection of a huge investment to do so and the research is very clear that it costs LESS to do that retention effort well than to have to replace those employees if they leave.
Similar issues apply in higher education where universities work hard to attract, recruit, enroll, and support students, especially minority students whom the universities want in their student profiles, their classrooms, and as graduates. Here again, mentoring is a key strategy for achieving this end result.