How important are mentors in the workplace?

Michele Meyer-Schipp, chief diversity officer at KPMG, talked to TheStreet about mentors and how companies can not only allow their employees to grow, but also to diversify the workplace. 

"I think for women, we need to mentor each other and support each other. And I think for women coming up the career chain, seeing senior women navigate this successfully is the best way to learn. I always tell senior women you know you are the role model for the women who are coming up behind you, so make sure that they see you speaking up," Meyer-Shipp said. 

But, mentorship isn't the only critical thing that companies can do to aid the career development of their employees. 

Meyer-Shipp says that sponsorship is also important. 

"So, you have someone who's mentoring you and that's great. But if you have that alone without the sponsorship you still may not get the opportunity. What a sponsor does for you, a sponsor is usually that senior leader who's in that room where all the decisions get made and he or she is going to put your name on the table when that mentor may not necessarily have a seat there. Right. So that's the person who's going to advocate for you," she said.

"That's the person who's watching you. You may know they're watching you or not. They see your skills. They see your strengths and they're able to raise their hand for you and put their political capital out there for you to get you that next opportunity. So you absolutely need both," continued Meyer-Shipp. 

You can watch the full interview here.