Mentoring can be seen as a means of developing skills in individuals and groups, and is widely recognised in the human resource management (HRM) literature. In the modern corporate environment, human resources (HR) managers consider mentoring a medium for holistic as well as professional growth. There are numerous studies conducted in Western contexts that correlate mentoring with training culture and employee development. The present study, however, focuses on the effect of mentoring on employee development in the Indian corporate sector, thereby filling a research gap. It is a quantitative study employing Structural Equation Modelling (SEM). The data were collected from 280 corporate employees in India, across different industries. The results indicate that mentoring has a positive effect on employee development. The most important highlight of this study is the importance of structured mentorship programmes. The results provide feasible suggestions for organisations to improve mentoring practices. The insights gained have implications for HR professionals and corporate policymakers in the area of workforce development and contribute significantly to the larger body of knowledge.