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Lost Knowledge, Lost Opportunity

ba desk-resized-600I was speaking with a business colleague recently who has a large number of retiring business owners seeking his assistance. He specializes in building websites for successful family-run businesses. Many business owners who built their success over many years of hard work are now planning retirement and are searching for ways to ensure their success carries onward with the next generation.

I am noticing the same retirement trends in our work. Over the past years our work has focused on building competency profiles for industry wide occupational groups. Now I see a new need emerging. Participants in our traditional occupational analysis sessions are asking us to use our expertise to capture the critical knowledge and expertise of retiring workers and transfer it to workers remaining in the organization.

Recently, we had a request from the new CEO of a thriving family business to assist with succession planning. The owners of the company had developed a successful business built over many years of hard work. They are now considering retirement but want the company’s success to continue after they depart the organization. They hired a new CEO to transition the company to one without their involvement. The new CEO asked our team to capture in detail the “know-how” of the key jobs that will soon be departing the organization. The detailed job expertise capture provided the basis for the new CEO to reengineer the jobs for optimum organizational performance. We were able to use the very detailed job expertise capture to build practical learning tools to transfer that know how to new people taking over their roles.

According to report by the Conference Board of Canada “as the baby boom generation of corporate leaders approaches retirement, businesses in the United States, Canada, and many European nations face a loss of experience and knowledge on an unprecedented scale. Despite both the risk and cost of losing intellectual capital, most companies still have no plan for the management and transfer of knowledge”

That brings us to some exciting news for TCG. As a result of the emerging needs in organizations we’ve designed a new service to assist organizations excel by capturing the expertise of successful employees and passing it on to others who will fill their roles. We have built on our many years of experience with competency analysis and adult learning methods to develop a practical and effective process we call SKILLRESET™.

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Our unique competency analysis processes will ensure that organizations are protected against critical knowledge and ability leaving their company. With SKILLRESET™ we ensure your organization is always moving forward and not wasting time and money scrambling to replace the skills and know-how it took for granted would always be there.

Click on the logo above to learn more about how SKILLRESET™ can assist your organization.

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Tags: competency mapping, knowledge capture, skilled labour shortage