Many organizations experience high employee turnover rates. The biggest problem with this is the lack of knowledge transfer. Because new employees who come onboard are not equipped with the knowledge and tools needed to be successful at their new job, they often cannot contribute to the optimal level. It is clear that all organizations must have a system for transferring existing knowledge from departing employees to those who come onboard. While limited time and resources are all contributing factors to the lack of knowledge transfer, it is essential to obtain managerial support before the organization can successfully implement the knowledge transfer initiative. Here are some of the common knowledge transfer practices that any effective organization should consider implementing:
- On the job mentoring, coaching, and shadowing
- Formal training (classroom courses and eLearning pieces), and
- Informal learning through social media and other knowledge repositories
Nowadays, informal learning plays crucial role in employee development and management should take active role in that regard. For example, managers may consider setting up a wiki or a Facebook page where everything pertinent to the job will be shared. It may also be a good idea to set up a blog and ask all superior employees to share their experiences there. To make their job easier, a manager should identify topics or content specifically sensitive or important and have employees write on these critical topics. This way, new employees coming onboard will always have a place they can refer to.