Author’s note: This article is the fourth installment of a multipart series exploring the power of mentorship in shaping modern leadership. Inspired by a recent Fearless survey in which 86% of respondents reported that a mentor directly supported their career advancement, we set out to understand why mentorship remains one of the most overlooked yet transformative forces in professional growth. What emerges reinforces that the journey to becoming an effective leader is rarely traveled alone.

The first time someone asked me to mentor her informally, I was working on Wall Street.

I was a managing director, yes. But I was also in my 30s. I still felt young. I was still looking to others for advice. Still editing my own emails three times before sending them. Still wondering if I had phrased something correctly in a boardroom or if I had been too direct, not direct enough, too confident, not confident enough.

So when this young rock star asked if I would meet with her regularly to talk through her career, my first thought was: What do I possibly have to offer anyone?

I wasn’t the CEO. I didn’t “know everything.” I was still figuring it out myself.

But then I thought about all the people who had been there for me. The colleague who explained how to recover from a difficult client meeting. The senior leader who pulled me aside and told me to trust my instincts. The quiet encouragement that made the difference between shrinking back and stepping forward.

I asked myself, “Who does know everything?” No one. I could at least listen.

That became the foundation of our mentorship. Not grand strategy. Not a master class in capital markets. Just conversations. About navigating tough personalities. About how to speak up without apologizing. About whether to raise her hand for an assignment that scared her. About which outfit to wear for the big presentation. 

Today, she is an incredibly successful executive in a high-powered banking career. I am not even remotely responsible for that. She did the work. She earned every promotion. But I was honored to pay forward whatever I could. Maybe it was insight. Maybe it was perspective. Maybe it was simply being a sounding board.

Research suggests that the impact of mentorship is significant. According to a survey by the American Society for Training and Development reported on by SHRM, 75% of executives say mentoring has been critical to their career development. 

The ripple effects extend far beyond individual careers. A McKinsey & Company study found that 59% of women in the C-suite report having had a female mentor at some point in their careers. And yet, a gap remains. That study shows that while 58% of entry-level women aspire to leadership, only 39% believe they have a mentor helping them get there. Ambition is not the problem. Access and support are.

The stakes are bigger than personal advancement. Research from the Peterson Institute for International Economics found that companies with women in executive officer and director positions post higher annual profit margins than those without female leaders. If the majority women in the C-suite had mentors and their companies outperform, it’s logical to conclude that mentorship can be a strategic lever.

When I look back, what strikes me most is how unqualified I felt that first time. I thought mentors had to be fully formed, polished, finished. But leadership is a progression. You do not have to be at the summit to extend a hand to someone a few steps behind you.

Mentorship is less about having all the answers and more about being willing to share the climb. We can all remember that someone was there for us and deciding to do the same.

I didn’t need to know everything. I just needed to show up. Sometimes, that’s enough.

I reached out to leaders and asked how becoming a mentor or intentionally paying mentorship forward has shaped their leadership and the culture around them.

Lisa Behrends, speaker; global entrepreneur; founder of Intentional Connections 

Since age 22, I have had the benefit of different mentors whose guidance has profoundly shaped how I lead. Their influence strengthened my decision-making. Watching experienced leaders navigate risk, uncertainty and competing priorities taught me to pause, seek perspective and choose long-term value over short-term gain. It also sharpened my leadership. I learned that strong leaders listen carefully, challenge thoughtfully and take full responsibility for outcomes.

Most importantly, mentorship shaped how I show up for others. Paying it forward as a business coach and friend has allowed me to intentionally develop emerging leaders, expand confidence in underrepresented voices and create space for others to grow. Mentorship builds leadership capacity beyond one person. It strengthens pipelines, deepens trust and fosters a culture where growth and opportunity are shared, not hoarded.

Sarah Buckley, vice president, corporate communications and community impact, EMC Insurance

Mentorship is powerful, not just for developing professionals but for leaders as well. While mentorship is often seen as advice flowing one way, the greatest value comes when it’s a two-way exchange. Emerging leaders bring fresh perspectives, new ideas and insights that challenge assumptions and sharpen decision-making. When mentorship becomes a dialogue rather than a download, everyone gets better. Mentoring can take place through formal programs, as well as more informal ways in the flow of work. Skip-level meetings are a simple, effective way to create these connections across an organization that have proven valuable for many within EMC, myself included. And when more voices are heard, cultures become more inclusive – and stronger.

Monica Goodlett, founder of Black Iowa Outdoors 

As a master’s-prepared nurse, I often think about Dr. Patricia Benner’s Novice to Expert theory and how it has shaped the way I practice and lead. The theory explains that nurses grow in their skills and judgment over time through education, hands-on experience, reflection and support from others. I’ve seen this not only in nursing, but in many professions. It reminds me that everyone develops at their own pace – moving from novice to advanced beginner, competent, proficient and eventually expert.

In my leadership role, I try to meet people where they are. Some team members need clear direction and reassurance, while others are ready for more independence and challenge. I focus on leading by example, offering encouragement, honest feedback and steady support. Patience, empathy and accountability guide my approach. I believe strong leaders reach back to help others grow. When we invest in one another, we strengthen our teams, our profession, and ultimately the communities we serve.

Sara Kurovski, CEO and president, Make-A-Wish Iowa; mayor, city of Pleasant Hill

I believe mentorship requires honesty, not just encouragement. If the feedback you receive is always positive, that’s a friendship – not a mentorship. A true mentor is willing to share the truth, even when it’s uncomfortable, and to do so with care. 

Over time, I’ve learned that this definition of mentorship isn’t what everyone expects or wants. And that’s OK. Because of that, I make it a point to be very clear before our first meeting. I ask a simple but important question: What are you hoping for?

Is this a chance to network and connect? Is it an opportunity to learn and grow through honest feedback? Or are we exploring whether a friendship might develop over time?

All three are valuable, but they require very different approaches. Being upfront honors everyone’s time, builds trust and ensures we’re aligned from the start. Clarity doesn’t make mentorship harder; it makes it more meaningful.

Maria Davis, senior vice president, Commercial Real Estate, R&R Real Estate Advisors 

Mentoring allows me to share my knowledge and experience with the next generation of leaders. Being a mentor helps me to brush up on my skills and revisit some important knowledge I was given by my mentors that I may have forgotten. It also teaches me that the younger generation are not only sponges, but they have something to teach me, too. And they’re so complimentary of my time, energy, and knowledge that it builds my confidence in what I do every day. Mentoring is a two-way street.