Psycho-social Predictors of Satisfaction with Formal Mentoring Relationship in the Banking Sector

Satisfaction with mentoring is a crucial/actor for the success of formal mentoring programmes, which has become popular tools for supporting new employees in the Nigerian banking sector. Yet, little is known about the protege’s satisfaction with mentoring in the sector. This paper ascertains the level of protege satisfaction with formal menta ring in a banking organization, and examines its psycho-social (career stage, type of duty, gender, age, tenure in current organization and education) predictors. Data were collected from 182 proteges of formal mentoring relationships in the banking sector, using a questionnaire. Results indicate that proteges who reported a below average level of satisfaction were significantly greater (73.6%) than those who expressed an above average level of satisfaction (26.4%)(r= 40.63; p < .(01). Hierarchical regression analysis which controlled for the effects of mentor’s gender reveals that psycho-social variables jointly predicted satisfaction with mentoring (If = .44; p < .(01), accounting for 38.5 percent (p<.(01) of its variance. The strongest significant independent contribution to satisfaction with mentoring was made by career stage (B = -.35, P < .(01), while the least was by gender (B = -.13, p < .05). Type of duty (B = -.08, P n.s.) and education (B= .16, P n.s.) were not significant independent predictors of a protege’s satisfaction with mentoring. The practical implications of these findings are that management intervention for satisfactory mentoring should incorporate the psycho-social domain of proteges and empower mentors to satisfy the needs of proteges.