Presidents, vice-presidents, managers and executives belonging to the ‘baby boomer’ era have retired or will do so soon. Does that mean that their vast resources of knowledge and years of experience will be lost to the organization they’ve worked in? This institutional knowledge is an important resource, which, if not tapped and stored, will mean a huge loss for the organization. Senior employees possess a treasure trove of factual and intuitive knowledge about the functioning of an organization’s various aspects. The younger generation who will eventually take over the functions from their outgoing seniors stand to gain immensely from them. So, what are the steps for effective knowledge transfer?
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