Employer & Recruiter Tip Mark Swartz, Career Coach

RETAINING COMPANY

KNOWLEDGE FROM BABY BOOMERS

THECURRENTSITUATION

THECURRENTSITUATION11..

• As recession clears up, companies in virtually every sector are starting to experience retention pressures and may begin to lose seasoned Boomers due to retirement and defections

• The phrase “knowledge management” has emerged to mean that organizations are starting to scramble to retain and develop highly skilled Boomers who hold “corporate memory.”

1. THE CURREN SITUATION1. THE CURREN SITUATION

IDENTIFY WHEREKEY KNOWLEDGERESIDES

IDENTIFY WHEREKEY KNOWLEDGERESIDES22..

• Who has the key knowledge among the Boomers in your organization? Aside from senior executives, is it…• That 45 year old customer service rep who has, for the past five years,

provided first-class support to clients and has an in-depth knowledge of their needs and what can and can’t be done for them?

• That 55 year old in marketing who’s been with the company for 10 years and possesses vital departmental or industry knowledge?

• That 65-year-old administrative assistant or senior executive who’s got 30 years of service, is retiring soon, but knows the company inside out?

• Be aware of who has the most critical information

2. IDENTIFY WHERE KEY KNOWLEDGE RESIDES2. IDENTIFY WHERE KEY KNOWLEDGE RESIDES

CREATE AMENTORINGPROGRAM

CREATE AMENTORINGPROGRAM33..

• People do not necessarily want to be put out to pasture. The idea of retiring and having nothing to do is actually quite

frightening to many people• What is very attractive to most people as they age is the idea of

slowing down and not working quite so hard• Creating strong mentoring programs is a way allow your older

workers to transmit knowledge to the next generation while working fewer hours. It just might be a way for everyone to win

• Make this an important job. Let younger workers learn from the experienced Boomers

3. CREATE A MENTORING PROGRAM3. CREATE A MENTORING PROGRAM

HARVESTCOMPANYINFORMATION

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• Make it a policy to obtain key information from your experienced Boomers regularly. Don’t wait until

a worker is leaving to try and find out what he or she knows, or what their methods are

• Have other people in the organization shadow these Boomers every once in a while. Having more than one person knowing how to perform a role goes a long way in sharing knowledge

4. HARVEST COMPANY INFORMATION OFTEN4. HARVEST COMPANY INFORMATION OFTEN

REVEREYOURWORKING ELDERS

REVEREYOURWORKING ELDERS55..

• To capitalize on the knowledge base of your older workers, you need to create a culture in your business whereby your seasoned veterans are looked up to and respected

• Make your appreciation for their contribution known and celebrate the time that they have spent

helping to grow your organization

5. REVERE YOUR WORKING ELDERS5. REVERE YOUR WORKING ELDERS

PROVIDEEXIT INTERVIEWSTO RETAIN KNOWLEDGE

PROVIDEEXIT INTERVIEWSTO RETAIN KNOWLEDGE66..

• Exit interviews let you in on information that people wouldn’t necessarily share with you if they were

still going to be working for you

• Don’t interview retiring workers on their last day of work. Interview them repeatedly in the time before they leave or retire

• Create brainstorming sessions where people can talk about their work and how they did it

6. PROVIDE EXIT INTERVIEWS TO RETAIN KNOWLEDGE

6. PROVIDE EXIT INTERVIEWS TO RETAIN KNOWLEDGE

more on this topic:Retain Company Knowledge from Baby Boomer WorkforceAnd Avoid Brain Drain – Knowledge Retention Tips

more Employer/Recruiter/HR advice:

http://hiring.monster.ca/hr/hr-best-practices.aspx

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