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How to Retain Valuable Knowledge when Employees Retire

November 12, 2013
Written by Bloomfire Admin

There comes a time in everyone’s career when they hang up their hats and head for the white sandy beaches of retirement. Which is great for the retiring party but not so great for the company they are leaving behind.

When a veteran employee leaves a company it is hard to gather all of the knowledge they have gained throughout the years.  They have spent many years in a role in which they excelled in and gained an immense amount of knowledge but now they are leaving.

How does one gather everything that individual has learned in the past decades and harbor it for future use when the veteran is no longer there? There are some different ways in which this can be done.

  1. One way is to allow the soon-to-retire individual to work flexible hours while helping transition another individual into their current role. This is something that would take some time so the retiree would have to stick around for a while. Incentives to keep the veteran around could include unlimited time off, work from home half time, work short days, etc. By giving them a large amount of flexibility they might not be as eager to retire so quickly.
  2. Give the veterans incentives for unloading all of their knowledge into a knowledge-base  which is used company wide. Give them a proper tool that they can upload all the files they maybe have, screenshots of any process they have, and any videos they find beneficial. They could create a video of them walking through certain processes and unloading any information they may have.

When knowledge sharing practices are implemented for veterans leaving the company, it builds a reassuring culture around the process. Individuals feel valued when people acknowledge they have something valuable that others want and need. Start by giving them a knowledge base tool they can use and adopt easily.  Retirees won’t leave behind every bit of knowledge they’ve gained over the years but capturing a majority of the important nuggets will be beneficial down the road.

Harness The Power Of Knowledge Sharing With Digital Transformation

Companies that grasp what the digital workplace is really all about are willing to change the ways people and applications connect across their organizations. By fostering a digitally driven culture of collaboration, they break down silos, share knowledge more effectively, and compete more successfully.

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