Knowledge Retention and Management

Losing skilled workers? Worried about knowledge retention as baby boomers exit your workforce?

Unfortunately, most companies are unprepared to manage the loss of many highly skilled, older workers. The challenge: identifying the skills and knowledge of your workforce and putting the right plans in place to ensure your organization's future success.

At EDSI, we've developed a process to identify "what" skills and knowledge will be lost and "when" the losses will occur. Furthermore, we ensure training, recruiting and hiring efforts minimize costs, risks, and organizational disruptions that come with the retirement of skilled workers.

Utilizing our Skilldex® system, we will create a Skills Balance Sheet, applying our process to identify, capture, communicate and connect specific critical knowledge and skills that a company is at risk of losing. Risk assessments are performed and knowledge transfer priorities are identified.

As America's population ages, so does its workforce. In fact, in the first decade of the new millennium, the number of workers aged 55 to 64 increased by 52%. Unfortunately, most companies are unprepared to manage the loss of many highly skilled, older workers. The challenge: identifying the skills and knowledge of your workforce and putting the right plans in place to ensure your organization's future success.

At EDSI, we've developed a process to identify "what" skills and knowledge will be lost and "when" the losses will occur. Furthermore, we ensure training, recruiting and hiring efforts minimize costs, risks, and organizational disruptions that come with the retirement of skilled workers.

EDSI's Ken Mall in the News

EDSI's Ken Mall Featured in International Report

Ken was one of 11 authors from around the globe invited to contribute to an international report from Ark Group entitled “Knowledge Retention: Protecting Corporate Memory.”

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American Gas Magazine Features EDSI's Ken Mall

Ken was the featured author in a recent cover story of American Gas Magazine - "The Aging Workforce."

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Benefits and Outcomes

  • Company-wide skills balance sheets
  • Organizational risk mitigation plans
  • Organizational SWOT analysis
  • Documented job responsibilities and tasks for positions at risk
  • Knowledge loss risk assessments for "soon-to-retire" employees
  • Identification of knowledge transfer priorities
  • Customized curriculum and training program development
  • Recruiting and hiring plans
  • Employee retention plans
  • Measurement of skill attainment and growth
  • Job competency and benchmarking
  • Development of career pathways
  • Optimization of company-wide skills
  • Individual Succession Planning
  • Organizational Succession Planning

A Process That Works

  • Identify: Identifying and prioritizing the specific knowledge and skills at risk
  • Capture: Capturing processes, responsibilities and tasks of subject matter experts
  • Communicate: Analyzing and communicating areas of risk and skill gaps within the organization
  • Connect: Developing concrete, actionable responses to mitigate this loss and connect people, tools and resources to ensure future success

State of Affairs

Because the U.S. workforce is aging, the projected tide of retirements could dramatically affect productivity and profits. In many companies, younger workers remain relatively inexperienced because of the predominance of Baby Boomers in important management and other leadership roles. The loss of older workers’ critical organizational knowledge and expertise could be costly to employers.

Report of the Taskforce on the Aging of the American Workforce, February 2008

The recent recession has hidden a rapidly evolving threat in many organizations. Despite an elevated unemployment rate, a lot of companies are in imminent danger of losing knowledge and capabilities critical to future performance due to the looming retirement of so many highly-skilled Baby Boomers.

Dr. David DeLong - Author of Lost Knowledge: Confronting the Threat of an Aging Workforce

According to the U.S. Census Bureau, by 2030, 19.7% of the population, or about 71.5 million Americans, will be 65 or older, compared with just 12.4% in 2000.

Report of the Taskforce on the Aging of the American Workforce, February 2008

As the year 2011 began on Jan. 1, the oldest members of the Baby Boom generation celebrated their 65th birthday. In fact, on that day, today, and for every day for the next 19 years, 10,000 baby boomers will reach age 65.

Pew Research Center

The U.S. economy will add 18.9 million jobs in the decade ending in 2014, about 2.6 million more jobs than were added in the previous decade. Meanwhile, over the same period, nearly 36 million workers are expected to leave their jobs permanently and will need to be replaced.

The Bureau of Labor Statistics Projection, 2005