Mentoring programs are frequently used in companies as a systemic solution to increase the performance of employees. Although the concept of mentoring dates back to the time period of Greek Mythology, the study of mentoring and its role in the 21st century workplace is vital due to the changing business climate, which involves an expected large exodus of executives, increase in the use of technology, and global competition. This study conducted a performance gap analysis of current mentoring programs in Fortune 1000 companies using an electronic survey targeted to human resource directors. The results of the study show that significant performance gaps exist in mentoring practices and purposes of mentoring programs.