Publicly available

Discussion: How can financial constraints be used to support 70:20:10 implementation?

This question was raised during our recent webinar.

It may be more complex to organise and support learning in the workplace than in the classroom, but it’s almost always cheaper. My experience is that almost inevitably, a 70:20:10 strategy will reduce spend on learning and development overall. So it is a very appropriate model to apply in times of financial constraint.

You can also use the conditions that come with financial constraint – senior leadership and CFO focus on looking at new approaches that will drive costs out of the organisations operating base – to pilot and implement 70:20:10. In fact, 70:20:10 requires a realignment of budgets.

 Your business plan should take the cost of implementation, skills development, communications, and running pilots into account, but the framework will certainly reduce overall spend.

I have worked with organisations that have been able to significantly reduce ther expenditure by implementing an entire or partial 70:20:10  strategy. In large organisations reductions can be in the order of 50% and millions of $/£/€.

The impact is generally on reducing costs associated with structured learning by extending the focus beyond the ‘10’ into the ‘20’ and ‘70’ spheres, which are almost invariably lest cost-intensive.

Exploiting efficiencies in the ‘10’ is an important part of a 70:20:10 strategy, too.

The 70:20:10 Forum toolkit resources* that will help you build the business case and ensure you can support cost reduction include:

Lilnk to Activity: Workshop - Resourcing Your 70:20:10 Implementation 
(*Access: Implement Members)

This workshop activity helps identify the strengths and gaps in the resourcing necessary for a successful 70:20:10 implementation.  It consists of a workshop plan and checklist. The checklist will be useful in helping you select the 'low hanging fruit' (the easiest areas of focus) for your specific context.

  • Guidlines and suggestions for the workshop activity
  • 'Resourcing Your 70:20:10 Implementation' checklist

Link to Activity: Workshop to Analyse Waste within L&D 
(*Access: Implement Members)

This workshop provides a plan and a lean L&D tool to assess the effectiveness and efficiency of your existing processes and solutions and position for change.

  • Outline and Guidance for a 60-75 minute workshop
  • Lean L&D template

Copyright © 70:20:10 Forum 2016. We encourage you to share our freely accessibly Content, however we do not allow extraction, unauthorised use and/or duplication of this Content without express written permission from 70:20:10 Forum. See our terms and conditions