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Companies Struggling to Preserve Knowledge
As boomers near retirement, firms face a staggering loss of institutional and strategic memory.
By Garry Kranz
No
Way Know-How:
Most organizations do a paltry job of transmitting company knowledge from
older workers to younger employees, Boston consulting company. Based on interviews
with more than 2,000 HR and training professionals, Novations found that only
about 4 percent of firms have formal mechanisms in place to capture the know-how
of retiring workers. Another 23 percent of organizations say they retain this
information informally. Most striking, many organizations aren’t worried about
this: Forty-four percent say they take no steps—nor do they plan to—to retain
corporate knowledge.
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
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Index: Quick Takes — November 20, 2007
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