The transfer of knowledge within an organization is often a poorly recognized issue. Few businesses have approached knowledge transfer in any systematic way.
Usually, an ad hoc approach involving a hastily arranged exit interview or a quickly drawn up handover checklist is the sum total of knowledge transfer when an employee leaves. And yet it’s been estimated that up to 10,000 people retire every day in the US. That’s a lot of company knowledge that’s walking out the door.
And what about key staff members that leave unexpectedly? What happens to their knowledge and expertise? This represents a significant drain of a company’s collective wisdom and can impact on overall innovation, growth and efficiency.
Introducing a KM strategy – including mechanisms to capture and transfer critical company information – makes good business sense.
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