Scarcity of knowledge and expertise is, and will continue to be, a huge challenge for organizations. Due to the anticipated mass retirement of baby boomers hired during the 1970s and 1980s, knowledge stewardship over time has become a critical concern. However, knowledge retention and transfer is not just about retirement anymore: Many of today's most pervasive knowledge issues result from the constant movement of people from project to project inside organizations, as well as the entrance of new employees as others leave.
Enterprises are increasingly realizing the need for knowledge strategies that address factors such as rapid organizational growth, layoffs, turnover, mergers and acquisitions, and internal redeployments. In this report, APQC explores the steps that leading organizations have taken to mitigate the loss of critical knowledge. The investigation focuses on five best-practice partners—The Aerospace Corporation, Fluor Corporation, Michelin North America, NASA, and Rolls-Royce—and their successful knowledge retention and transfer strategies and approaches.