Training Industry Quarterly - Spring 2011 - (Page 40)
TRACKING TRENDS | KEVIN OAKES
PAY ATTENTION TO KNOWLEDGE RETENTION
he concept of passing along information to the next generation is as old as when a CroMagnon scratched petroglyphs on a cave wall. While some corporations’ efforts at knowledge retention are just as primitive today, most understand the innate need to preserve and pass along hardearned knowledge. After all, it’s an asset that they typically spend a lot of money to create. Although the cost of lost knowledge and intellectual capital through reductions-in-force and retirement is an issue that has been well-documented in recent years, it remains difficult to both quantify and overstate. I’ve personally had recent conversations with companies in certain industries about their concern that an older workforce presents significant risks in terms of future knowledge loss. And as a result of the recent recession this concern has been compounded by unexpected layoffs, early retirement buy-outs and other attrition. Increasingly as the economy recovers, there’s concern about the
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more subtle sources of know-ledge loss precipitated by increasing workforce mobility, flexible work arrangements and use of contin-gent workers. Yet, despite these concerns, knowledge retention is not widely practiced in most organizations today. Why? Lack of time, perception that knowledge retention is not a priority of senior leadership, inadequate resources allocated for knowledge retention, difficulty in measuring ROI and lack of consensus on who is responsible for knowledge retention were commonly cited factors in a study of 426 organizations. The study focuses on the differences between High Perfoming Organizaitons (HPOs) – those that excel in revenue, profitability, market share and customer satisfaction – vs. Low Performing Organizations (LPOs). HPOs (48 percent) have a much better handle on identifying individuals and roles at risk for knowledge loss within the coming five years
TrainingIndustry Quarterly, Spring 2011 / A Training Industry, Inc. ezine / www.trainingindustry.com/TIQ
http://www.trainingindustry.com/TIQ
Table of Contents for the Digital Edition of Training Industry Quarterly - Spring 2011
Training Industry Quarterly - Spring 2011
From Where I Sit
Contents
At the Editor’s Desk
Performance & Productivity
Learning Technologies
Technical Training
Learning 2020
Developing High Impact Academia Partnerships
Sustainability – The Next Corporate Challenge
The LMS Evolution: Revolutionizing Form and Function
Video: The Next Hot Learning App?
Jackson Hewitt
Pay Attention to Knowledge Retention
Closing Arguments
Training Industry Quarterly - Spring 2011
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