When talking about learning a new skill, the first thing that comes to mind is going on a training course. However, how much do you really learn on a one or two day course?
It’s said that the most effective way to learn anything is through day-to-day challenges and the exposure to others around you.
This is when the 70-20-10 model comes into place.
It turns out that 70% of your knowledge is through job-related experiences and daily tasks.
20% of what you know is through the interaction of others, such as co-workers.
Formal training courses only make up 10% of your learning!
So from this Learning and Development professionals were able to come up with the 70-20-10 framework.
So what are the advantages of using this model in the workplace?
It Can Increase Employee Engagement
70:20:10 provides a framework for a wider variety of development chances.
As it’s not down to just formal training, it allows managers and other employees to get involved. By doing this it increases the chances of them staying in the organisation.
The Model Can Improve Productivity
The longer you have to wait for formal training, the less likely you’re going to want to complete the work after.
By incorporating more mentoring and coaching within the workplace, it is easier to get things done faster by having all the knowledge needed within the organisation.
Integrating development activities into the workplace can have the biggest impact on improving performance.
It Creates A High Performance Culture
It’s A More Efficient Way Of Learning
The model is identified as a more informal method of training, which nowadays is viewed as more efficient.
Why is this?
Well, if you need to know something on the spot, what do you do first? Ask a colleague, and if they know the answer, its problem solved. There’s no waiting around for training courses.
It is also more cost efficient for the business.
Can Improve Team Performance
Through focusing on learning and developing as a team, it will improve the performance as a whole. This is not only because you are able to identify others weaknesses, but you are then able to help them with the necessary skills needed to become better.
So if your organisation is in need of new training methods, the 70:20:10 approach is definitely one you should consider!