Male bosses more likely to act as mentors than female counterparts

More than half of male decision makers in SMEs, 53 per cent, say they have been a mentor to a less experienced colleague, compared to 45 per cent of females in senior roles.

This 8 per cent difference is especially significant given that in 2019 The Cranfield Report estimated that less than 10 per cent of executive directors in the UK’s most successful businesses were women.

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.”

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