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It will also help you establish a central source of company information, where all employees-whether they are new, experienced, on-site, or remote-can access up-to-date company knowledge.Īnd because employees will always know where to find accurate company information, you’ll minimize the time employees spend searching through emails, files, and Slack messages to find the information they need, therefore boosting productivity. Implementing a knowledge transfer plan will prevent knowledge loss when tenured employees leave.
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The most effective knowledge transfer systems include ways to record implicit, tacit, and explicit knowledge. In the workplace, knowledge transfer is defined as the process of storing and sharing employees’ institutional knowledge and best practices. To avoid knowledge loss, organizations must have a reliable knowledge transfer plan. Without a way to retain and transfer that knowledge, organizations experience difficulties training new employees and providing consistent, top-quality service to customers. When your people leave, they take everything they know with them. No matter the reason-retirement, the pursuit of another job, or remote work-the result is the same. A subject matter expert might have a wealth of information stored on their hard drive or in their head, but if they’re not online and available when their team members have a question, those team members won’t be able to get the information they need in real time. Knowledge loss can even become a problem when team members are working remotely. It happens all the time-no great surprise when 10,000 Baby Boomers retire every day, according to Investopedia, and recruiters advise people to change jobs every three years, according to Fast Company.
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Oh, look, there goes another valued member of your team, leaving the organization with a huge treasure trove of information and insights amassed during his or her tenure. This blog was updated and expanded on April 21, 2021.
SOLAR FIRE GOLD KNOWLEDGE BASE UPDATE
Note: We periodically update blogs to reflect the latest trends, research, and best practices in knowledge management.