The Power of 70-20-10 Model in Career Development: A Comprehensive Guide

As we navigate through our careers, we come across various learning opportunities that shape our growth. Every job we take or every task we accomplish provides us with knowledge and skillsets that can be valuable in our future endeavors. However, to truly excel in our careers, we need a structured approach to learning and development. This is where the 70-20-10 model comes into play.

What is the 70-20-10 Model?

The 70-20-10 model is a framework that suggests three types of learning that can contribute to career development. It emphasizes that 70% of learning comes from on-the-job experiences, 20% comes from interactions with others, and 10% comes from formal education.

This model takes into account the fact that most people learn best when they are challenged in their work environment and given the chance to apply their knowledge to real-world situations. It also acknowledges that learning from others, such as mentors or peers, can be a valuable source of knowledge and skill development.

Applying the 70-20-10 Model in Career Development

To apply the 70-20-10 model in our career development, we need to create a plan that incorporates all three learning components.

70% On-the-Job Learning

The majority of our learning will come from on-the-job experiences. This means taking on challenging tasks and projects that push us out of our comfort zone. It also involves seeking feedback from our managers and colleagues to understand where we can improve.

When taking on new projects, we should identify areas where we can learn and grow. It could be a new technology or software, a different method for completing tasks, or simply working in a new team or department. By taking on new challenges, we can sharpen our skills and gain valuable experience that we can apply to our future work.

20% Learning from Others

Interactions with others can provide us with opportunities to learn from their experiences and gain a new perspective. This can include working with a mentor, seeking feedback from colleagues, attending industry conferences, or participating in online forums or discussion groups.

Furthermore, building strong relationships with colleagues and peers can also help us expand our professional network, which can lead to new learning opportunities and career advancement.

10% Formal Education

While formal education only contributes to 10% of our learning, it shouldn’t be ignored. Pursuing courses and certifications can help us gain credibility in our industry and demonstrate our commitment to personal and professional development.

However, it’s important to note that formal education alone is not enough. It should be combined with on-the-job learning and learning from others to truly maximize its impact.

Benefits of the 70-20-10 Model in Career Development

By adopting the 70-20-10 model in our career development, we can experience numerous benefits, including:

• Increased job satisfaction and engagement: By taking on challenging tasks and learning new skills, we can feel more fulfilled in our work.
• Improved performance: Continuous learning can lead to improved job performance and increased efficiency.
• Higher chances of career advancement: By gaining new skills and knowledge, we become more valuable to our organization, increasing our chances of career advancement.
• Stronger professional network: Interacting with others can help us build strong relationships and expand our professional network.

Conclusion

The 70-20-10 model provides a comprehensive approach to career development. By incorporating on-the-job learning, learning from others, and formal education, we can gain valuable experience, expand our knowledge and skills, and advance in our careers. Remember, learning is a lifelong process, and by following the 70-20-10 model, we can continue to grow and succeed in our professional lives.