CIOs are expected to contribute significant growth and productivity gains to support their businesses and provide a competitive edge. But with IT spending down, we can't just throw expensive technology at problems like we used to.

One way to achieve these goals is to identify and develop leaders, which requires recruiting, developing, and retaining outstanding candidates.

Mentoring, whether formal or informal, can help the process. Good mentoring strengthens your talent and is a fundamental building block of most successful companies. The term "mentor" originated in Greek mythology. When Odysseus was about to leave on his journey to fight in the Trojan War, he asked his good friend, Mentor, to be guardian and role model for his son, Telemachus. I've worked for many companies that have implemented successful mentoring programs, and, much like Telemachus, I've been the recipient of these benefits, too.

Early in my career, while working as a program administrator at IBM in White Plains, N.Y., I met Jack Howell, VP of field operations. We were in a meeting and I was very impressed with Jack's line of questioning. He didn't have patience for long-winded presentations. Instead, he would ask, "What is the business problem you are trying to solve?" That's a question I now use routinely to start my meetings.

About six months after that meeting, a well known, respected, and tenured manager of technical support became ill, and Jack requested that I fill in temporarily. I was surprised because the job responsibilities were more senior than mine, but it turned out to be a very exciting and informative experience. After that, Jack made me his technical administrative assistant, interfacing with all his direct reports.

I frequently called Jack for advice during that time and he became my advocate. He believed in my abilities and helped me learn the ropes, but his advice and counsel were most influential in helping me to set objectives. He taught me to learn from many, pick the attributes that worked best for me, and toss out the rest. He also taught me to be open to new ideas. I often say, "You don't know what you don't know." I've been in the business 35 years and I'm still learning. Jack also taught me that knowing the limits of your knowledge is the beginning of wisdom.

I learned more than business skills from Jack. He is an avid skier and sailing enthusiast, so while I was attending an executive-management course at Colgate University, I took a sailing course. I learned the difference between sheets and lines, and that a stuffing box is not used for making a turkey dinner. I also became a close friend of the family.

I make sure to mentor others at AMD and at local universities. At AMD, we're placing more emphasis on leadership development and mentoring overall. At training sessions, executives ensure that employees understand the corporate direction. In IT, we have an initiative to recruit, develop, and retain world-class employees and to create a culture that values leadership. These leaders are also responsible for developing and mentoring others.

During my many years in business, I've experienced first-hand the value of mentoring and I continue to pass on this message to anyone who will listen: Take Odysseus' lead; the success of your organization and your employees depends on it.