It Doesn’t Have to be so Bad When People Leave…if You’re Prepared
We know all too well the issues associated with the “brain drain”… knowledge walking out the door due to the older generation retiring and the younger generation increasingly moving between organizations. (The U.S. Department of Labor’s 2008 Employee Tenure Report shows that frequency of movement at an average of every three years.) A survey from Online Recruitment, 2007, of 2,046 human resource executives about their organizations’ practices of transmitting knowledge from retiring baby boomers to others within the organization found the following:
- 23% of organizations transfer knowledge informally
- 4% transfer knowledge formally
- 29% do not pass on knowledge
- 44% have no plans to transfer knowledge from retiring baby boomers
These are alarming statistics from a knowledge management standpoint.