Adult development and career theorists have long espoused the benefits of having a mentoring relationship for an individual's personal and professional development (Dalton, Thompson, & Price, 1977; Hall, 1976; Kram, 1985; Levinson et al., 1978). Since these seminal studies, quite a lot has been learned about the nature and benefits of traditional forms of mentoring. A "traditional" mentoring relationship is one in which a senior person working in the protege's organization assists with the protege's personal and professional development (Fagenson, 1989; Ostroff & Kozlowski, 1993; Ragins & McFarlin, 1990). Moreover, the "mentor" generally provides high amounts of both career and psychosocial assistance (Thomas & Kram, 1988).
The current business scenario demands a new set of core leadership competencies including -managing uncertainty, dealing with ambiguity, and leading with strategic agility. Promising talent has the greatest opportunity to develop these competencies if they are part of a collaborative learning experience. (Kaye, 2009) Establishing leadership programs creates a support network that provides resources in understanding corporate culture, accountability, team interaction and most importantly the unspoken rules of business engagement. Mentoring programs are a proven method for generating professional interest and commitment to the firm or department. (Arms, 2010).