Take strategic action to counteract knowledge loss and engage employees. Talent development executives are facing significant organizational knowledge loss right now due to the Great Resignation and the seismic shift to distributed workforces.
Knowledge Sharing and Knowledge Management: Keys to a Culture of Learning examines organizational knowledge sharing and knowledge management practices. The knowledge sharing section of the report considers how employers are encouraged to share information, when they share it, and what kinds of information is shared.
Succession planning is essential for ensuring business continuity and operations, but research shows that not many organizations actually have formal succession plans in place. In fact, the Association for Talent Developments latest research, Succession Planning: Ensuring Continued Excellence, found that just 35 percent of organizations have a formalized succession planning process.
In Upskilling and Reskilling: Turning Disruption and Change Into New Capabilitiesthe latest research report by the Association for Talent Development (ATD)results show that just over a third of organizations provide both upskilling and reskilling. The report defines upskilling as training designed to augment existing skills with new or significantly enhanced knowledge or skills to enable individuals to continue and succeed in the same profession or field of work.
Dont fear lost knowledge through employee departuresbuild a foundation of knowledge management to realize business goals. It has happened before, and it will happen again.
Use succession business metrics to develop a strategy to retain top talent and reduce external recruiting expenses. It is always better to plan and to behave proactively in a business, rather than address problems on a reactive basis.
Before Boomer employees retire, capture the valuable knowledge they possess. And for too many businesses, when those employees walk out the door, they take with them a careers worth of institutional knowledge.
Building a strong bench for the future proved challenging because leaders didnt believe in the process. Mitigating risk is more important than ever in corporate America and that is particularly true for financial services.
In a previous blog, I discussed the term digital natives. Some say we should train digital natives differently because young people have grown up with technology and the Internet in all parts of their lives.