Mentoring is indeed powerful.
Most managers have been both a mentor and a mentee at some point in their careers. Sometimes, though, not everyone understands the important difference between informal mentoring and formal mentoring.
Formal mentoring is structured, intentional, and short-termed. It also requires the support of top management.
In addition to the informal mentoring that is surely taking place at your company/organization, consider establishing a formal mentoring program.
You can learn about formal mentoring from many sources, but here is one resource/company that can provide you with easy-to-follow workbooks for both the mentor and mentee:
The Mentoring Group in Grass Valley, CA