Corporate Alzeimers?

With so many 'boomers' on the brink of retirement, the corporate world should be gearing up for a major expense - from the overwhelming loss of corporate memory. It's well known that knowledge is power. For years people have been hoarding specialized expertise, data and personal relationships - anxious to be indispensible - needed - valuable. In fact many organizations even encourage this hoarding of knowledge - without even realizing it.

Take the company awards for individual contributions for one, how companies track results that pit one plant against another as they jockey for 'top' operation, even the vacation planning challenges fail to address the problem as people explain why two people can't be off at the same time as 'we depend on one to be here for their expertise' and have you seen the "IN" basket of some hoarders after they come back from vacation? It's full to overflowing and adding even more stress into an already busy worklife.

The lack of knowledge transfer, or KT as we call is, is an impending epidemic and not many organizations are addressing it head on.

Many of my clients are beginning to feel the urgency to act. They are talking about getting their senior people to pass along crucial information before they leave, to mentor others, to develop plans to record key processes, procedures, stakeholders, etc. What they fail to recognize is that this tactic may not work as it could directly conflict with that individual's personal goal. Consider this - many senior employees plan to become consultants after they retire, with an eye on coming back to their previous employer to fill the void created by their retirement! Can you see how hanging on to crucial information will serve them well in their future plans?

So, if you want to retain knowledge, have it transferred freely and continually, then you have to examine how you reward and recognize people - first. Make sure your policies and procedures don't stall your game plan.

Hire people who have demonstrated a love of helping others become more skilled and knowledgeable - they are not hoarders.
Promote leaders who have shown they are building more leaders by passing along their own expertise.
Support people who want to put on training events.
Reward groups who are gaining expertise and sharing it with others.

The more your organization shows that you value knowledge transfer; as opposed to hoarding, the easier it will be for your company to survive when key people leave - one at a time or on mass.