Hindrances to transferring tacit knowledge were an issue pre-pandemic. Collectively, Fortune 500 companies were losing an estimated $31.5 billion annually as a result of employees not sharing knowledge. In pre-pandemic research, high usage of technology emerged at the epicenter of the hindrances to transferring tacit knowledge.
A disruption in knowledge transfer impacts organizational productivity, competitive advantage, and future state sustainability. Now in the throes of the pandemic, organizations are struggling more than ever with how to transfer their tacit knowledge to future generations of virtual new hires. Does your organizations recognize the hindrances?
High usage of technology instead of interactive relationships
The unfortunate deaths of many
Heavily relying on job aids can be a hindrance to transferring tacit knowledge
Layoffs allows tacit knowledge to walk out the door
A heavy dependency on contractors as the key knowledge holders instead of employees.
Baby Boomers Retiring
Approximately 30-40 million Baby Boomers are projected to retire by the year 2025
A tacit (skill) knowledgeable talent shortage is projected to crest at 35 million in 2025
conflicts and inherent differences of generational diversity progressively erode the connectivity
for transferring tacit knowledg