This paper reviews the literature of formal mentoring programs in organizational settings. Additionally, the components of mentoring, how it works, and how it can be implemented in an organization is addressed. Further this paper also proposes that formal mentoring is possible in organizations. Formal mentoring will be shown to be less effective than informal mentoring. Furthermore, it will be shown that formal organizational mentoring can be effective to meet the needs for all employees to have the opportunity to be mentored, to learn from the wisdom, experience and mistakes of others, and to increase the protégé's career opportunities.