Knowledge Management 101: Preventing a Knowledge Loss Crisis in 6 Steps
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Feb 20, 2020
STEP 2. Know How to Conduct a Knowledge Loss Risk Interview
When knowledge needs to be captured from a single individual, like in the case of a retirement or job transfer, the knowledge capture interview is very effective. After identifying a job incumbent who may retire or leave the company, it is important to identify the special skills/knowledge that are at risk for loss when that person leaves. This is so that efforts can be made to transfer this knowledge to other incumbents before the knowledge is lost from the company. The data captured through the interview can be turned into documents, checklists, procedures, etc. The benefits of using a knowledge capture interview include:
- Performing the interview ensures that the knowledge is not lost with the incumbent
- This captured knowledge is much easier to transfer to future incumbents
- Information captured from the interview identifies specialized areas of knowledge which become the subject of subsequent interviews with the SME, or leads to additional research/information gathering
You can use a knowledge capture interview form similar to the partial one shown below to capture knowledge from your subject matter expert.
Besides the interview method, here are some other great ways to capture knowledge:
- Build a knowledge library through a LMS, blog or online program
- Implement an employee training program that records and organizes content via audio memos, videos, etc. in course or webinar format
- Create a company-wide mentoring program that connects senior and junior level executives
STEP 3. How to Perform a Knowledge Loss Risk Assessment
A knowledge loss risk assessment is a critical element of knowledge management. It is a process used to determine the potential business impact of the loss of critical knowledge from an organization. The process for attrition (employees who retire, transfer, quit or are fired) -based assessment uses a risk assessment matrix, which focuses on two components:
- Position risk – based on the unique/critical knowledge and skills possessed by the employee and an estimate of the difficulty or level of effort required to refill the position.
- Attrition risk – based on the expected retirement or other attrition date of an employee.
Depending on the combination of the two factors listed above, a total knowledge loss risk factor can be derived for each targeted individual in the company. A knowledge loss risk assessment is a helpful starting point for setting priorities where key employees can be targeted for knowledge retrieval or other mitigation actions. See the graphic below, which illustrates the process.
STEP 4. Streamline Your Knowledge with a Solid Knowledge Transfer Process
This step ensures that everyone on your team will have the information they need to keep your business running smoothly. It is a practical method for transitioning knowledge from one part of your business to another (or one person to another). It involves the circulation of information, ideas, tasks, processes, tools, documents, and so much more.
Knowledge transfer is commonly thought of when key members of a team leave, and the organization wants to capture their experience to pass on to incumbents. But there are many other reasons to capture knowledge. Think of onboarding new hires or summer interns who come and go. These instances, too, require knowledge transfer to some degree. How much and what kind of knowledge will depend on the goals of the desired outcome.
Working in tandem with HR on the following company optimization strategies creates an ideal and effective workplace as these key components were rated high in relation to creating a seamless knowledge transfer process:
By taking specific steps in the knowledge transfer process to mitigate the potential for knowledge loss, there is an opportunity to ensure a more seamless transition as workers retire and leave the organization. For example, implementing a mentorship or apprenticeship program would be efficient ways to narrow the knowledge loss gap.
STEP 6. Measuring and Analyzing Over Time
It’s important to remember, knowledge management should be an ongoing process, not a one-time task, so be sure to schedule regular intervals to conduct the process – many companies find quarterly is a reasonable timeframe.
Before introducing any metrics system, get clear on the question you want the metrics to answer. Metrics can help answer several questions, such as:
- Is KM working? If not, what needs to be fixed or adjusted?
- Is implementation on track, and if not, what needs to be different?
- Are team members doing what they are supposed to be doing? Who is doing well, who is struggling? Why and what improvements can be made?
- Are we delivering value? If not, stop, reevaluate and try another method.
Setting up your metrics isn’t a one-size-fits-all process; it needs to be customized to your business and processes. Most metrics will require a baseline to measure against. Make sure you answer these questions with certainty: a.) who needs the metrics? b.) what decisions will be made based on the metrics?
If you have questions or would like to speak to one of our KM consultants, visit the link below.
