Knowledge Management (KM) - How to Beat the Baby Boomer Retirement Blues

By Susannah Patton

PAGE 4

After finding the 46 people who had this specialized experience, Cadas set up a program that allowed younger, recently hired engineers to interview the older experts. The engineers met and went through a questioning process that enabled the younger employees to learn about supersonic technology and then to put that knowledge into a repository for future reference. "This was a double win for us," Cadas says. He adds that while in many cases older employees typically need some sort of incentive to participate, this time they were "falling over themselves" to teach the younger employees about the technology because they were proud of their accomplishments and were eager to see their knowledge retained for future use.

The experience at Rolls Royce illustrates an urgent situation in which a cutting-edge technology risks becoming obsolete. But the death of certain skills isn’t always a cause for mourning. For example, few would complain that they can’t find a typewriter repairman in the phone book. However, organizations must carefully analyze whether a technology or skill might be needed in the future. "Companies need to ask themselves, What can we not afford to lose?" says Melissie Rumizen, senior knowledge strategist at consultancy SAIC and author of The Complete Idiot’s Guide to Knowledge Management.

KM Can Aid in Succession Planning

Some companies turn to software to help predict future departures and determine crucial knowledge. Succession planning or talent management software can give organizations a good picture of who is working for them, how they are performing and how long they’ll be around. With retirement on the horizon and new management positions to fill last year, automotive chain Pep Boys started using succession planning software from SuccessFactors to give it a clear picture of all employees at the company’s 584 retail and service centers. "The risk of knowledge loss will always be there because there will always be unexpected departures," says Liviu Dedes, Pep Boys’ director of training and organizational development. "But if you have a solid process to map out who is in your leadership pipeline, you’ll be better prepared to fill job openings, retain top-performing employees and prepare for retirement."

Dedes says that the software lets him check how many employees are near retirement age and how many might be leaving soon for other reasons. Another way to get a visual picture of human interaction and pinpoint the go-to people in an organization is to do a social network analysis (SNA), which often involves interviewing employees and managers to see who is working with whom, and whom employees go to most often for help. SNA software can help organizations map out relationships and get a clear picture of who has the most knowledge and experience in a specific area (for more on SNA, see "Who Knows Whom, and Who Knows What?" at www.cio.com/061505). The next step is to work on retaining those people, says Mohl at Children’s Healthcare of Atlanta. "You need to focus on helping these people advance as quickly as possible," he says.


Loading...
Applications MarketSpace
Practical Approaches for Securing Web Applications
Enterprises understand the importance of securing web applications to protect critical corporate and customer data. What many don't understand, is how to implement a robust process for integrating security and risk management throughout the web application software development lifecycle. Learn more »
An Executive's Guide to Web Application Security
Since so many Web sites contain vulnerabilities, hackers can leverage a relatively simple exploit to gain access to a wealth of sensitive information, such as credit card data, social security numbers and health records. It's more important than ever to examine your Web application security, assess your vulnerability and take action to protect your business. Learn more »
Web Application Vulnerabilities
Security managers may work for midsize or large organizations; they may operate from anywhere on the globe. But inevitably, they share a common goal: to better manage the risks associated with their business infrastructure. Increasingly, Web application security plays a significant role in achieving that goal. Learn more »
Using ERP To Gain Competitive Advantage in a Tough Economy
For midsize enterprises, now is the perfect time to invest in a significant IT expansion - despite the economic climate. Learn more »
Why BI is Ripe For Businesses of Any Size
Oracle's range of offerings to mid-size and emerging companies reflects its vision that BI and EPM solutions can be embraced by companies of all sizes. Learn more »
Oracle Accelerate
Ovum has been following Oracle's Accelerate program over the last couple of years because they thought it is a smart strategy for penetrating the upper mid-market. Learn more »
The New Age of ERP
Not only can small and mid-sized companies reap the renowned ERP benefits of greater agility, increased business visibility and measurable ROI. Learn more »
 
SPONSORED LINKS
 

CRM Built for IT: The Executive Guide to Selecting CRM that Meets IT Needs

ROI of Application Delivery Controllers

White Paper: 4 Customer Service Myths

White Paper: Improve Agility with Operational Responsiveness

Removing the Barriers to IT Governance: How On-Demand Software Changes the Game

Cloud Computing--Latest Buzzword or a Glimpse of the Future?

A Balanced Approach to an Application Development Platform

Adobe® LiveCycle®solutions for intuitive user experience

10 Ways Excel Drives More Value from Your SAP Investment

What's New in SOA Suite 11g?

Unleash the Power of Java with Oracle JRockit Real Time

SOA Best Practices and Design Patterns

Application Grid: Ideal Platform for IT Consolidation

Ready to virtualize tier one applications? Check your virtualization maturity.

Learn how to provide complete Business Service Management.

Increase ROI of Your Application Portfolio

Return on Information: Google Enterprise Search pays you back. Get the facts.

VMware. The source for Business Infrastructure Virtualization.

ShoreTel tells businesses to untangle from competitors' complexity and turn to its brilliantly simple UC solution

See how AT&T can help protect your network.

Streamline IT Costs. Boost Performance with WAN Optimization.

Build your 1st app FREE with Force.com

TDWI checklist helps define data readiness for analytics. Download report.

eZine: A Roadmap to Reducing IT Complexity

Reduce risk, gain agility. See how Progress can help your business.

What's Next for Enterprise Resource Planning?

Gartner Magic Quadrant, Application Delivery Controllers 2009

White Paper: Managed Security for a Not-So-Secure World

SharePoint - Unchecked growth of content is unsustainable.

Focus Under Pressure: Why IT Governance Becomes Mission-Critical in a Down Economy

Should Your Email Live In The Cloud? A Comparative Cost Analysis

Adobe® LiveCycle® solutions for business process automation

Architecting Business Intelligence Applications for Change: The Open Solution

Increase UPS efficiency without sacrificing protection.

Unlocking the Mainframe: Modernizing Legacy System to SOA

State of the Data Integration Market

Enhance Customer Loyalty through Higher Responsiveness

Achieving Business Agility with Application Grid

Seven Ways ITIL Can Help You in an Economic Downturn

Four steps to populate your CMDB.

"Enterprise-Proven" is the Prerequisite for Enterprise SaaS Portal Solutions

AT&T Synaptic Storage as a Service. Expand on demand

Trend Micro ranked #1 against real-world malware. Read more.

Webinar: Jump-start your in-house e-discovery with Ringtail QuickCull from FTI Technology

Top Five CIO Challenges

Read the RSA report: Security for Business Innovation

64-page prescriptive guide to security, compliance, and IT operations.

A Clear View Toward Virtualization

Virtualization Technology as a Business Solution

The rules of infrastructure management just changed.

 
 
RESOURCE CENTER