While the people part of succession planning is most important, the knowledge capture and transfer process is also critical. You must ensure that all knowledge leaving the organization through people gets properly, and thoroughly, captured and transferred to the next generation of workers.
In a survey by HR Daily Review, 60% of respondents reported that it was difficult, very difficult, or nearly impossible to obtain information vital to their job from their colleagues. According to James Davis, Editor, HR Daily Advisor, “Employees in our survey spent an average of 5 hours per week waiting to get in touch with people who have the unique knowledge they need. For 1 in 10 workers, it’s not unusual to wait twice that long. During that time, work may be delayed, suspended, or even canceled altogether, further fueling employee frustrations.”
As you can tell, the way organizations manage knowledge matters to its employees, and makes a big impact on productivity and efficiency. This point really illustrates why identifying knowledge risks is so critical and why the process we have outlined here is helpful. This part of the process is very similar to Step 1, identifying critical positions, however in this case, we are identifying critical knowledge that is at risk of being lost by those leaving the organization.
Use the following scoring method to rate the amount of risk the organization would experience if the person leaving the organization’s knowledge and skills were lost. Ask yourself, “What type of knowledge and skills does this employee possess?”