For over 26 years, Howick Associates has been a trusted advisor and collaborative partner to leading organizations in developing talent, driving change, and delivering results. We are committed to helping leaders take action to achieve strategic priorities. While you may not have heard of us before, it is likely you have heard of or done business with our client organizations including SC Johnson, R.W. Baird, Abbott Laboratories, Children's Health and Hospital-Milwaukee, Briggs & Stratton and many more.
73 million retiring ... are you ready?
Did you know, as of January 1, 2011, 10,000 Baby Boomers will turn 65 each day for the next 20 years. The potential loss of experience and institutional knowledge by many Wisconsin organizations is staggering.
For example, a recent internal assessment by one of our clients illustrates the dilemma:
- A high percentage of key personnel will be retiring in the next 5 years
- Over 66% of the departments in the organization do not have a plan to support knowledge transfer
- Over 70% currently do not have the time nor the resources to attach the problem.
This all raises questions about knowledge transfer and how that's going to work in your organization. Some of the common challenges organizations could face include:
- No sense of urgency
- Generational differences
- Concerns over job security
- Lack of technology support and resources
- Lack of leadership support
- Lack of engagement, buy-in or commitment
- Organizational culture non-conducive to knowledge sharing
- Lack of trust
- Locations or distance between groups/individuals
- Language issues or technical jargon
- Internal conflicts between groups, departments and divisions
- Identify the critical knowledge holders within the organization
- Motivate knowledge holders to share
- Design the sharing mechanisms & plans to facilitate the transfer
- Execute and monitor the plan
- Measure to ensure the transfers were successful
- Help people apply the knowledge transferred