five years, which means that skills that took years to build can become irrelevant in a short time. Therefore, it's important to equip managers to be coaches and mentors. The 70 2010 model is a useful framework for developing individuals, with 70% of learning coming from on-the-job training, 20% from coaching and mentoring, and only 10% from formal training. While formal training is essential, managers need to be trained on how to be coaches and mentors. Senior leaders and individuals who have been coached before can serve as role models. Managers also need technology to function well as coaches, to make sense of what's going on in their organization and to track progress. Continuous feedback is an essential component of coaching, and managers should be giving and receiving feedback from their team to build a coaching and mentoring culture.

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0:00:00 Introduction to the importance of building a coaching and mentoring culture within a company due to the decreasing half-life of skills.

0:00:55 Explanation of the 70 2010 model for individual development, with 70% coming from on-the-job learning, 20% from coaching and mentoring, and 10% from formal training.

0:02:16 Managers need training to be effective coaches and mentors, and technology is necessary to track progress and provide continuous feedback.

0:02:52 Continuous feedback is a crucial building block of coaching, and managers should be providing it to their teams.

0:03:08 Conclusion and call to action to follow EngageRocket on LinkedIn for more tips on helping midsize companies do more with less.

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The half-life of skills has fallen to between two and a half to five years, which means that skills that took years to build can become irrelevant in a short time. Therefore, it's important to equip managers to be coaches and mentors. The 70 2010 model is a useful framework for developing individuals, with 70% of learning coming from on-the-job training, 20% from coaching and mentoring, and o