Most people have been helped by a mentor—be it a parent, teacher, coach, professional colleague, or boss. Supporting another person’s growth and development has proven to be a timeless act that continues to shine today.

A new 2023 Mentoring Impact Report from MentorcliQ analyzed the impact of mentoring on Fortune 500 companies and found that the growth of mentoring has accelerated in recent years. The 2023 report shows that 92 percent of Fortune 500 companies offered mentoring programs, up from the 84 percent reported in the inaugural 2022 Mentoring Impact Report (a report that finally put to rest a stat from 2009 stating 70 percent of Fortune 500 companies offered mentoring).