With thousands of baby boomers retiring each day, knowledge transfer has never been more important.
U.S. Bureau of Labor Statistics numbers show 31.5 million workers in this country are 55 or older. That means that a significant departure of knowledge is about to occur in the coming decade.
To keep that knowledge from walking out the door, it’s time to plan for “Knowledge Transfer.” This concept, of working with long-tenured employees on strategies to convey their knowledge in a planned, systematic way, is growing in popularity.
The benefits are numerous, with retention and risk reduction at the top of the list.
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