Mentoring as an Essential Element of Social Entrepreneurship

Abstract

The changing age structure of the population could potentially have significant implications for economic development, labor markets and population welfare in countries with different levels of development. In this regard, there are questions related to possible labor shortages and lack of skilled workers, productivity and innovation, as well as the provision of adequate social protection and other services for the ageing population. Mentoring acts as a mechanism for the transfer of specific and important knowledge, experience, skills, techniques and methods of work, as well as the establishment of the corporate culture of an enterprise. The elderly people who have worked for one and the same company for many years have all the qualities of a mentor. Nowadays the government is actively implementing the policy strategies of supporting older people in their wellbeing; the role of business is also of high importance in this case. The article examines the possibility of using mentoring and engaging retired employees with their experience, high level of their education and professional qualification into training of young inexperienced workers. Mentoring is presented as an element of social entrepreneurship.