Knowledge Management and Developing Continuity Plans to Ensure Succession
“A knowledge of men is the prime secret of business success.” – Darius Ogden Mills
The current workforce is seeing a higher turnover as many of the baby boomer generation prepare to retire. A gallup poll from 2015 showed that “while about eight in 10 boomers in their early 50’s are in the workforce, the percentage employed drops to about 50% for boomers who are 60” (gallup.com, 2015).
Knowledge is often associated with experience and age, and in the case of baby boomers retiring or leaving the workforce, a lot of this knowledge will go away. What many companies are incorporating to help mitigate this risk are knowledge management programs.
Stores of Knowledge
What these provide is a place to store information or knowledge to assist new employees to find best practices, policies, and other items to help with continuity in the workforce. This continuity is essential for organizations to remain successful and retain knowledge going forward.
An article was written by Beazley, Boenisch, and Harden (2002) states that “without planning and preparation, such events and situations can create a knowledge continuity crisis that itself can pose a genuine threat to organizational productivity and profits. This is not something that anyone wants to hear, but it is important to take knowledge and continuity management seriously. Here are just a few suggestions that can be incorporated to help establish a knowledge management system and ensure continuity.
- Establishing weekly working groups to brainstorm and share and record knowledge
- Develop policies and procedures that specifically state what is considered data to be entered into a knowledge management system.
- Use a program that is user-friendly and easy search.
These are just three basic steps that can be put into place with ease to help establish continuity and knowledge management in an organization. As with anything, there are different ways to do it based on organizational and management needs. Plan ahead, however, and start mapping out how to retain knowledge to ensure continuity. Knowledge is a power which in turn will make your employee’s experts increasing your gains and profits.
Keywords: Knowledge, Mangement, Continuity
Continuity management: Preserving corporate knowledge and productivity when employees leave. (2003). Work Study, 52(2), 159-160. Retrieved from http://cupdx.idm.oclc.org/loginurl=http://search.proquest.com.cupdx.idm.oclc.org/docvi ew/2 18420914?accountid=10248