Four generations are working elbow to elbow right now, and it’s creating a good-news-bad-news-situation for organizations. On one side, companies have never had a more eclectic blend of knowledge and skill sets inside their walls. On the other hand, they’ve never needed more strategic and purposeful ways of capitalizing on those organizational assets.
One-size-fits-all approaches to employee learning, communication and teamwork are too generic to meet the needs of a multi-generational workforce. And while programs tailor-fitted to employee age and seniority levels are ideal, they aren’t realistic or cost-effective for most organizations to implement. The alternative? Finding a happy medium between both ends of the spectrum. Companies should start with the 70:20:10 rule.
What Is the 70:20:10 Rule?
The 70:20:10 rule is a framework that helps companies leverage the three types of learning and development in order to capitalize on the skills, talent and knowledge of their multi-generational workforce. It suggests that 70% of workplace learning happens on the job through experiential practices. 20% occurs through social learning such as networks or professional relationships. The last 10% of learning happens through formal learning, like training sessions or workshops.
Learn how technology is becoming a key ingredient in carrying out the 70:20:10 rule in our white paper.
Why Use It with a Multi-Generational Workforce?
Following the 70:20:10 rule gives companies the ability to meet the learning demands of their various worker generations in a more practical, cost-effective way. Baby boomers are likely more used to a structured, formalized learning process and technology-mediated methods may put them out of their comfort zone. Millennial workers may not respond as well to linear training materials like manuscripts or manuals, but older employees might find these essential training tools. Rather than overhauling their training curriculum or implementing broad-based programs that lack specificity and practicality, companies can use the 70:20:10 rule to create a blended learning framework that optimizes employee learning methods for the multi-generational workforce.
Get tips and strategies for putting the 70:20:10 rule to work in your multi-generational workforce in our new white paper, “Harnessing the Power of Your Multi-Generational Workforce.”