The Value of Retaining Institutional Knowledge

Human resource experts have shown that employees who leave an organization take a substantial amount of invaluable business and operational knowledge, as well as organizational and political contacts and connections, with them. This large bundle of knowledge that a person acquires over time is known as "institutional knowledge." It's difficult to replace or duplicate by organizations, especially when internal systems to retain, replace or document it are nonexistent. Very few metrics or measures exist to quantify the loss-or value-of institutional knowledge, continuity and history. The loss typically is manifested as turnover, recruitment, replacement and training costs that many organizations face.1 I've recently witnessed several people in our industry either pushed out of key positons or who quit after their experience and value to their organization was overlooked or dismissed. In one case, a new fire chief moved an inexperienced fire officer into the position of EMS battalion chief position and transferred the seasoned 25-year EMS veteran to head up another division. The new EMS chief knew nothing about this experienced employee's EMS history, advances or projects underway. Their program has since spiraled backward; it will take years to recover from this loss of institutional knowledge in that position. In another instance, an industry colleague who did the work of four people stated her case to a new owner and requested more assistance. It fell on deaf ears a...
Source: JEMS Administration and Leadership - Category: Emergency Medicine Authors: Tags: Columns Administration and Leadership Source Type: news