In the ever-changing dynamic corporate world, employees need to be on their toes to grow professionally and climb up the corporate ladder. Aspiring leaders constantly seek effective strategies to enhance their skills and unleash their potential to be future leaders. If companies do not invest in developing leaders within their organization, they risk losing talented employees and being forced to hire outsiders or promote unsuitable candidates to senior roles.

In this blog, we will discuss the 70-20-10 rule and how it can be used to unleash the potential of future leaders.

Let’s first understand the 70-20-10 rule. It is a learning and development model which was developed by the Center for creative leadership. It is a proportionate breakdown of how people learn effectively. The rule states that 70% of learning comes from on-the-job experience, 20% from developmental relationships, and 10% from training and courses.

How to use the 70-2-10 rule to unleash the potential of future leaders?

Now, let’s explore how to use the 70-20-10 rule in your organization and make better leaders for the future. Here are some of the ways that you can use this rule for the benefit of your organization.

70% on-the-job experience:

According to researchers, adults learn faster through their experiences. The human brain retains the experiences in the memory for a longer period of time than theoretical knowledge. Here is how you can use on-the-job learning to benefit the employees in your organization:

1. Challenging assignments: By providing challenging tasks and projects to your employees, you can expand their capabilities and help them learn more effectively. You can assign them tasks that require them to upgrade their skills and learn to solve problems. This will build their confidence and expand their knowledge base.
2. Job rotation: Encourage employees to rotate between roles and departments to learn more about the business and the functions of different employees. This will help them prepare for management roles in the future. This cross-functional experience can foster adaptability and promote a holistic approach to problem-solving.
3. Learning from mistakes: Motivate your employees to consider mistakes as a chance for growth and development rather than setbacks or failures. By encouraging open communication and creating a safe space for them to share their mistakes and challenges as they grow in their roles. Remember, we learn the most when we make mistakes, so let’s use them to our advantage.
4. Feedback and Performance Reviews: Give helpful feedback to your employees regularly on how they are performing and developing their skills. Encourage open and honest communication, emphasizing strengths and areas for improvement. Performance evaluations should not only evaluate the achieved results but also the skills that employees acquired and developed through on-the-job experiences.
5. Reflective practice: Encourage your employees to reflect on their work experiences and learn from them. This is called reflective practice. By doing this, they can identify key learnings and improve their job performance. To determine areas of improvement, you could evaluate yourself, write in a journal, or have team discussions. Reflective practice helps employees identify what worked well, what could be improved, and how they can apply their learnings to future situations.

20% Developmental relationships:

Social learning can be a powerful tool for developing skills. In order to make the most of it, there are some key strategies to keep in mind.

1. Create a Collaborative Environment: Encourage all employees to work together as a team by promoting a culture of collaboration within the organization. Encourage employees to openly discuss, exchange ideas, and ask their colleagues for feedback. Working together in a collaborative environment allows for the exchange of knowledge and perspectives, which promotes skill development.
2. Peer Mentoring and Shadowing: Motivate employees to learn from each other by creating mentoring or shadowing opportunities. Pairing employees with colleagues who have expertise in a particular area allows for knowledge transfer, skill development, and the exchange of best practices. Peer mentoring and shadowing provide valuable insights and perspectives from individuals who have firsthand experience in relevant skill areas.
3. Cross-Functional Projects and Teams: Promote cross-departmental collaboration by forming teams with members from different areas of expertise. When employees interact with colleagues who have different skills and perspectives, they can learn and develop new abilities that are useful across the organization.
4. Networking Events and Conferences: Get your employees to attend industry events, such as conferences and seminars, to connect with their colleagues. These events are great for networking with professionals from various organizations, sharing ideas, and gaining insights from industry experts. By interacting with colleagues from different backgrounds, workers learn about the latest techniques and strategies that can be advantageous for their job. This way, they stay up-to-date while diversifying their network.
5. Recognition and Appreciation: It is important to reward and recognize employees who participate in the organization’s social learning and skill development. When you acknowledge their achievements and efforts, you reinforce the importance of peer-to-peer learning and encourage employees to engage in social interactions to enhance their skills.

10% training and resources:

1. Design Relevant Training Programs: Create or find training programs that address the specific skills that employees lack and the training they require. Make sure the training materials are current, applicable, and tailored to meet specific skill development objectives. Use a combination of virtual, online, and in-person training depending on the skills and resources available.
2. Provide Access to Learning Resources: Provide your staff with a range of learning materials, such as online learning platforms, digital courses, books, industry publications, and research materials. A reliable platform for valuable training is Compliance Prime. It provides a set of resources that covers various topics related to the organization and the necessary skills for employees to grow and learn.
3. Evaluation and Feedback: Make sure to evaluate training programs regularly and get feedback from those who participated. Evaluate the impact of training on skill development by using tools like surveys and post-training assessments. These can help measure the effectiveness of the training. Use feedback to improve future training initiatives and ensure the quality and relevancy of training resources.
4. Support Implementation and Application: Implement training programs into employees’ day-to-day work to encourage employees to apply their acquired skills. Provide employees with opportunities to practice and reinforce newly acquired skills through job assignments, projects, or simulations. Assure successful application of learned skills in real-world situations by offering ongoing support and follow-up.

Related: What is the best learning resource organizations can provide to their employees?

What is the best learning resource organizations can provide to their employees

Related: Getting ready for leadership roles with succession planning

Getting Ready for Leadership Roles with Succession Planning

Final words

The 70-20-10 methodology presents a thorough and efficient way of fostering tomorrow’s leaders. Becoming an exceptional leader requires investment in experiential learning, social engagement, and formal training. Through these avenues, individuals can discover and unleash their full potential, propelling their careers to new heights. Leadership development is an ongoing process, and following the 70-20-10 rule helps employees to grow as a leader. Check out this webinar training on succession planning for 2023: It’s not just for emergencies, It’s a leadership development strategy.