Business Psychology, Coaching & Mentoring Report on XYZ Plc Needs

This report provides an analysis of the mentoring needs of XYZ Plc, a media organization facing challenges such as competition and human resource management issues. The report identifies key mentoring needs, including employee retention, workforce development, skill enhancement, and job satisfaction. It then proposes a detailed mentoring scheme for XYZ Plc, outlining steps such as designing the scheme, matching mentors and mentees, selecting mentors based on performance, and planning the resources required. The planning stage involves technological software, analytical tools, and performance management toolkits. The report concludes that a well-crafted mentoring scheme is essential for addressing the company's needs and enhancing its overall effectiveness. The report references key academic literature on the psychology of coaching and mentoring, emphasizing the importance of mentoring in the modern business environment.

BUSINESS PSYCHOLOGY,
COACHING AND MENTORING

TABLE OF CONTENTS
 INTRODUCTION
 MENTORING NEEDS OF XYZ Plc
 PROPROSED MENTORING SCHEME
 CONCLUSION
 REFERENCES

INTRODUCTION
Business psychology is a branch of study and practice which is associated with all the
necessary aspects required by an organisation to make their workforce even more
productive and function even more effectively. On the other hand, coaching and
mentoring are effective and essential methods of a company to train as well as help
employees within an organisation to effectively enhance their knowledge about several
aspects.

MENTORING NEEDS OF XYZ Plc
XYZ Plc is a media organisation which provides its customers with entertainment
servicesThere are several reasons for the same, which accounts for several factors such as
high competition from services like Netflix and Apple TV, which create their own
personalised content for viewers. However, the other reason for the same is the
ineffective management of human resources within the companyThis requires for the
company to appropriately analyse its mentoring needs to appropriately evaluate all the
necessary aspects related to developing an effective scheme.

CONTINUE...
The mentoring needs of XYZ Plc is discussed below:
 Retaining of Employees: The first need of the company is to retain its senior
workforce. By the rate of current workforce functioning within XYZ company, the
most prominent need of the company is related to retaining its old employees who
are important asset for the firm and could contribute effectively in its success.

CONTINUE...
 Development of Workforce: Another prominent need is that with high
competition, the organisation requires to develop its workforce in ways
which helps it gain a competitive edge. For this, serious mentoring is
required within XYZ Plc.

CONTINUE...
 Enhancement of Skills: The current market situation makes it evident for
the employees within the firm to enhance their skills and to ensure the same
for workforce having growth potential, the firm. Furthermore, it is also
needed for the company to appropriately ensure job satisfaction in senior
employees, for which there is a need for mentoring within the workplace.

CONTINUE...
 Job Satisfaction: Another mentoring need for the firm is that the retaining rate of
senior employees is quite low and thus, it is necessary for the organisation to
mentor employees and train them in relation to new technologies which would
enhance their job satisfaction.

PROPROSED MENTORING SCHEME
Following is the mentoring scheme which is appropriate for XYZ Plc:
 Designing: The first step of this scheme would require the managers of XYZ Plc to
design the overall scheme, which would include enrolment method of employees,
mentoring style and reporting processes. This also requires the company to align
this scheme with their business goals.

CONTINUE...
 Matching: The next step requires the company to create effective user profiles and
give them authority to select their own pair while general criteria would be laid
down by the company..
 Selection: Within this step, mentor selections would be made which would be
effectively based on several effective selection criteria like their performance and
relation with other employees.

CONTINUE...
 Planning: This is perhaps the most essential step of this overall scheme. This
requires the firm to effectively plan out each resource which would be required for
the scheme. The firm would be requiring technological software, analytical tools
and subjective performance management toolkit which would be used by the
managers and project heads to ensure that the scheme is appropriately planned and
implemented. Furthermore, necessary mentoring styles and necessary training plans
will also be developed in this stage.

CONCLUSION
Thus, it could be concluded from the overall presentation is that it is very necessary for a
company to appropriately craft out effective mentoring scheme to fulfil the mentoring
needs of the company. Furthermore, it is important that current mentoring needs are
analysed on basis of which, the firm would be developing a new mentoring program.