The impact of having a mentor in your life can never be underestimated. The 2023 Women in the Workplace Report by McKinsey showed that women with mentors are more likely to get promoted than those who aren’t. The same study found that 59% of women in top management positions reported having a female mentor during their careers.
“I am very fortunate to have been mentored,” says Ntoagae. “Growing up, I didn’t know what the financial services industry entailed,” she admits. “I come from a family where many of the older women were domestic workers or predominantly employed in the informal sector. Yet here I am today with rich experiences thanks to educational opportunities, and the mentorship of generous leaders.”
Barriers, bias and blunders
For organisations to unlock the full potential of women, the three Bs of female mentorship need to be addressed, Ntoagae maintains. “The first B is (systematic) barriers,” she says.
Most women can’t access mentorship programmes and networking opportunities because they don’t exist, or minority groups are excluded from informal networks.
Another barrier is tokenism. “This is where mentorship exists, but it isn’t truly supported,” she explains. Other barriers include a lack of preparation for people who are expected to be mentors and difficulty navigating power dynamics which can get in the way of connecting or building rapport.
The second B is bias. Mentoring women is different from mentoring men due to societal factors or cultural backgrounds. “Women report having worked on building trust and a good rapport,” explains Ntoagae. “For many women, confronting imposter syndrome tends to be prevalent and learning to be more assertive.” Work-life balance and juggling family responsibilities are also important considerations. “Mentorship for women needs to suit their needs and give them the support and encouragement they are looking for.”
For men, mentoring can take a different form. “Most men are interested in career advancement and professional growth,” says Ntoagae.
They want individual achievement and success, whereas women are usually more interested in fostering a sense of community.
In terms of (corporate) blunders, Ntoagae believes that mentorship programmes fail when the objectives are unclear, or barriers and biases are left unaddressed. “Other common blunders include ignoring flexibility, which is crucial for women, and setting unrealistic expectations. Poor matching of mentors with mentees can also have disastrous consequences.”
Paying it forward
The notion that only people who look like me can mentor others is wrong, Ntoagae believes. “Men have played a very important part in shaping my career and have been motivators and mentors. To this end, men are as important in creating an equitable society where women have a seat at the table.”
Now that Ntoagae occupies a senior role, she feels it’s her duty to help other young women and has been instrumental in establishing a mentorship programme at Old Mutual Insure. “I want the next generation of women to have a better quality of life and access to growth opportunities,” she concludes.
That is the real human impact of economic transformation. I want to make sure I help create a sense of optimism for others by paying it forward.
