Baby Boomers are retiring in droves. In fact, the Pew Research Center revealed that 10,000 Baby Boomers will reach age 65 every day during the next two decades. As these individuals exit the workforce and head to Florida, they’re taking more than their belongings; they’re also taking years of invaluable knowledge, skills, and experience that companies are dependent on.
In response, these businesses are hiring young employees who were raised in an information age ripe with social networks—from Facebook to Instagram to Twitter and text messaging. These millennials have always had different expectations about how to access information, ask questions and gather answers. Rather than spending hours digging through clunky documents, repositories, intranets, and messaging systems, they’re accustomed to having information at their fingertips — immediately.
With such disparity in the way these two groups work, is it possible to bridge the gap and ensure that the invaluable institutional knowledge baby boomers have worked so hard to accumulate doesn’t walk out the door with them?
This is an excerpt from an article about knowledge transfer in HR.com by Bloomfire CEO Trey Tramonte.