Wednesday, June 1, 2016
NEWS RELEASE: New guide helps companies prepare for knowledge transfer as boomers retire
VANCOUVER – The Asia Pacific Gateway Skills Table (the Skills Table) has released a practical guide to help companies retain and transfer business-critical and experience-based knowledge as baby boomers reach retirement age and exit the workforce.
Management Attrition & Critical Knowledge Transfer: A Human Resource Practitioner's Guide highlights that knowledge transfer efforts often occur when employees announce their intention to retire, which is usually too late for employers to effectively transfer expertise acquired over decades. The guide suggests that by getting ahead of the curve, employers immediately put themselves in a better position to face attrition head on, which is valuable both in case of retirement and for employers who lose experienced employees in a competitive job market.
"Strategic planning and a structured approach to knowledge transfer can make a significant impact to a company's productivity and profitability," said Krista Bax, Executive Director, Asia Pacific Gateway Skills Table. "We developed the guide for the many human resource leaders who have said they do not feel adequately prepared to address knowledge transfer for retiring workers. The guide lays out considerations and principles to develop and implement a concrete plan to guide companies through the changes."
For media enquiries, please contact:
Jonathan Kassian, Project Manager, APGST