Knowledge transfer in the company: How to secure valuable know-how before retirement

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The demographic change is in full swing and presents companies with great challenges. In the coming years, the generation of baby boomers will retire well-deserved.

This threatens a massive loss of experience and valuable knowledge. It is so essential for companies to develop strategies for a successful knowledge transfer of employees in time.

In this article you will learn how to secure the know-how of your skilled employees and make them useful for the future of your company.

The ticking time bomb: Why knowledge loss is a serious danger

The demographic change is in full swing and presents companies with great challenges.

For Knowledge transfer in the company: How to secure valuable know-how…, AI & Machine Learning, Cost Calculator: AI Knowledge Base sowie Discover solutions help you align rollout, scope and budget before you commit.

For decades, skilled employees have accumulated valuable knowledge. You know the internal processes, the customers and the wigs of the products like no other.

This implicit knowledge is often nowhere recorded and is irretrievably lost with the employee's exit. The effects can be serious:

• Productivity loss: New employees need significantly longer to work and achieve the same level of performance.
• Quality problems: Errors accumulate because knowledge about proven solutions is lacking.
• Loss of customer relationships: Long-term customer relationships based on personal contact with an employee can cancel.
• Innovation store: The wheel is reinvented again and again because knowledge about past projects and developments is no longer available.

A lack of or insufficient employee knowledge transfer can sustainably weaken the market strength of a company. It is so all the more important to act proactively.

Strategies for a successful knowledge transfer

Short: There are different methods to make knowledge transfer in the company.

There are different methods to make knowledge transfer in the company. Choosing the right method depends on corporate culture, the nature of knowledge and resources available.

Here are some proven approaches:

Mentoring and Tandem Programs

In mentoring programs, skilled employees (mentors) pass on their knowledge and experience to younger colleagues (mentees).

This can be done at regular meetings, at joint work on projects or through informal exchange.

A special form is the tandem model, in which an outgoing employee cooperates closely with his successor over a longer period of time.

Knowledge databases and documentation

Digitization offers excellent ways to secure and access knowledge.

In a central knowledge database (e.g. a wiki or a document management system), employees can document their knowledge and make it available for others.

A clear structure and ease of use are important in this respect. This means employees can also use the database.

Exit interviews and knowledge transfer workshops

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References and further reading

The following separate references complement the topics in this article:

• Bitkom – German digital industry association.
• German Federal Office for Information Security (BSI).
• European Commission – Digital strategy.
• MDN Web Docs (Mozilla)
• W3C – World Wide Web Consortium.

Frequently Asked Questions (FAQ)

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In short: The demographic change is in full swing and presents companies with great challenges. In the coming years, the generation of baby boomers will retire well-deserved. There...

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