The estimated cost of losing a key employee.
When a key employee is about to leave the organization, there is usually some time to ensure their knowledge stays behind. First, identify and codify the knowledge – then help the person taking their place engage with that knowledge in meaningful, highly focused ways.
Create a knowledge map to identify and codify the knowledge of a key employee.
Use a critical outcomes assessment to focus on the areas of highest need.
Work with departing and incoming employees to create detailed plans to guide transition.
accountability & commitment
Build an accountability structure that considers learning style, timelines, and commitments.
things we know about leadership, strategy & succession
In the Globe and Mail this past Friday, Bill Thomas, CEO of KPMG Canada, talked about how his organization is working to ensure more women join the ranks of leadership: “…the tie will always go to the female candidate. If you’re not prepared to step up and have that at the back of your mind,[…]
There are many reasons Apple is such a successful company. Simon Sinek, in his popular YouTube video “Start with Why” describes Apple as a company that understands its why. Sinek goes on to describe how Apple communicates: “Everything we do, we believe in challenging the status quo. We believe in thinking differently. The way we[…]
PERFORMANCE EXPECTATIONS = results + actions & behaviours According to the University of California Berkley, employees need to know what is expected of them to perform well¹. Berkeley HR desribes results as “the goods and services produced by an an employee”. They describe actions & behaviours as “the methods and means used to make a[…]
The biggest challenge for the Canadian economy – as well as those of most major Western countries whose populations are similarly maturing – is that the looming retirement of the boomer generation amounts to a giant brake on the labour force. Labour growth is the key ingredient in the production of more goods and services[…]
Within organizational theory, knowledge transfer is “the practical problem of transferring knowledge from one part of the organization to another. Like knowledge management, knowledge transfer seeks to organize, create, capture or distribute knowledge and ensure its availability for future users”¹. The literature on knowledge transfer is extensive. There is a great deal of available information[…]
Sometimes, companies reach the point when they need to put their succession plans to use and realize they forgot to map out the path from A to B. A leadership shift can’t be accomplished overnight, so a succession plan shouldn’t assume it will. The words above come from an article titled “Making Family Business Succession[…]
According to Dorothy Leonard¹, professor emerita at Harvard Business School, knowledge loss within organizations is becoming more problematic than ever. In fact, Leonard cites evidence that estimates every loss of a key employee costs an organization $430,000 over and above recruitment costs. Fortunately, Leonard also suggests 5 strategies to minimize the impact of knowledge loss:[…]
One of the things we know about learning is people learn best when they have a structure or framework to help make sense of new information. Some structures are more restricting than others, which can be good or bad depending on who you are and what you’re trying to learn. Some types of learning –[…]
Leadership and learning are indispensable to each other. John F. Kennedy Kennedy was right: learning is critical to leadership, and leadership – if done properly – can result in deep learning. But how do leaders learn best? Like any individual, each leader has specific learning preferences. Some prefer to learn through collective approaches; others through[…]
A recent study¹ out of the University of Guadalajara looked at organizational learning and transformational leadership – and their relationship to innovation, high performance and competetiveness, particularly in small to medium sized enterprises. Organizational learning and transformational leadership were central to the study because each, independently, has been shown to positively impact organizational success. Through[…]