“Sorry, I’m not sure how you do that. Ask Bill in IT, he knows… never mind, I forgot that he retired last month. No, don’t bother with the manual. It hasn’t been updated since 2008, and we’re doing things a lot differently now. Maybe Jen can help you, but she’s out at the other office today: she’s been really busy since Bill left.”
You’ve probably heard at least a few conversations like this, maybe you’ve even participated in one. They’re taking place nearly everywhere, as increasing numbers of baby boomers leave the workforce. And they’re leaving in record numbers. We recently read an article in the business news describing how Putnam Investments, a major provider of retirement fund management services, is hiring additional sales and service personnel to meet the needs of the growing retirement market.
Are you watching your mission-critical knowledge walk out the door?
While Putnam and other fund management firms welcome the retiring baby boomers, their former employers are finding it increasingly difficult to deal with the impact of their departure. The problem is that in many organizations, a surprising amount of mission-critical knowledge exists only in the heads of workers. Even if it’s been written down, and you’re able to locate it, the documentation is very likely to be inaccurate, hard to understand, or out of date. When skilled, experienced employees walk out the door, mission-critical knowledge often goes with them.
Best time to start your knowledge capture initiative? Right now.
It’s easy to see why the retirement of the baby boomers, along with downsizings due to economic pressures, and the changing composition of the workforce, has been causing major problems for organizations—and sleepless nights for managers—nearly everywhere.
But not everyone is losing sleep. Thought leaders across industries understand that knowledge capture is essential to maintaining continuity in operational efficiency, product and service quality, and customer retention. So they’re doing what you’d expect thought leaders to do— instead of tossing and turning, they’re taking action.
Coming up—knowledge capture strategies you can use.
Over the coming month or so, we’ll take a close look at knowledge capture strategies to help you minimize disruptions, keep quality high, and ensure that your customers stay happy, even after skilled and experienced employees have walked out the door. We’ll share practical ideas you can use to immediately begin capturing your organization’s mission-critical knowledge.