We have a teacher preparation program required of all our new hires that runs the entire first year of their employment with us. The interesting thing about our structure is that many established faculty join us (coincidentally in numbers about equal to the new hires, usually), because this has the potential to impact their placement on the pay grid, ultimately. That's the initial motivation, though the program has gained quite a bit of traction on campus as a worthwhile, satisfying endeavour.
Well, as a result of the mix of participants, we invariably get wonderful discussions going between the new and established faculty around all of the topics we cover in those 12 sessions. For me, it's part of the fun of facilitating these sessions, and both groups acknowledge how rich the exchange is. I'm certain it's one of the features that keeps people signing up for these sessions (from among the established faculty), and causes the participants to hang around, even after we're 'done', late on a Friday afternoon, to continue their exchanges!
I also offer a peer review of teaching - entirely voluntary, and the agenda is set by the prof being observed.
The one piece we need to formalize a bit more at our little community college - and I'm grateful for the references I've seen to this already - is our mentoring program. In our case, too, folks from like disciplines connect for the new faculty member's first year, and the mentor's time becomes part of the workload formula. It's just VERY informal at the moment. But it's next on my hit list. :)