Loss of knowledge due to staff turnover

| Employees, Leadership

With a termination, not only does a valuable employee leave the company, the accumulated knowledge and experience also go with him.

A company's most valuable asset is its employees. But it is not only the ongoing work and performance of the person himself that is invaluable - it is above all the knowledge that is lost when there is a change in personnel. Procedures, processes, experiences, insights, information, established relationships with the customer - all these things are built up by the employee over months and years. But are they also passed on to the company and shared?

According to a study by Sinequa, 71% of those surveyed are of the opinion that accumulated knowledge is also lost due to high staff turnover. Accordingly, not only would the competitiveness of the company suffer, but also the training of new employees. Productivity stagnates and workflows no longer function smoothly. The loss of knowledge in the company has a direct negative effect on all employees.

Remedy is provided by a process of information transfer. Procedures, processes and information - whether internal or customer-specific - must be stored centrally so that other employees can view them at any time. But insights, conclusions or experiences are also worth recording. In addition, there is the possibility of the classic 4-eyes principle. Make sure that every product, every project, every customer is looked after by at least 2 people. In this way you avoid isolated solutions and the retention of information.

How do you handle knowledge transfer and information security in your company?

Back
Loss of knowledge due to staff turnover