Dear Hina,
You have said that "The objective of launching a mentoring program is to provide our employees with a source of additional support for their personal development and also for aligning their efforts with the organizational objectives. We believe that this would not only help the company in retaining these employees as it would lead to development and progression of employees which in turn would lead to company progression".
In addition to this you need someone in the organisation who interprets philosophy of the organisation. Managers are too busy in their day to day activities and they cannot do this job. Hence, it is mentor who does this job. Mentor-mentee relationship is far more dynamic and it is informal relationship in the formal framework. Mentor is a guide, coach, motivator, counsellor etc. Mentor looks back to his own success and failures and tells the mentee what did I succeed or why did I fail. Mentors looks back to other's successes and failures and tells to mentee why they failed or succeeded.
Ask any senior professional and you will find the person regretting for "not getting the right guidance at the right time". Mentoring programme fixes this syndrome exactly.
Restricting Mentoring programme to top performers only: - This is your management's decision and I am no one to challenge it but then it is "not so good" performers who need more mentoring than the "top performers". If performance of the "above average" employees is raised to the "best" level, will your company not get benefited by the way?
If you restrict the mentoring programme only for the "top performers" it will lead to a situation of Indian economy wherein poor remain poor but rich have vast chance of getting richer. Secondly, from the organisation culture point of view it may lead to "us and them" divide. So how will you bridge this cultural divide?
Thanks,
Dinesh V Divekar