Organizations have been hit hard with the many challenges COVID-19 has brought, consequently, creating employee burnout throughout all industries. According to the World Economic Forum, 4.4 million Americans left their jobs in September 2021. Experts are calling this new trend of departing careers “The Great Resignation.” Companies are often scrambling to fill these roles and also maintain team morale with those who are left with more work. With this all-time high of resignation, many organizations are wondering how they can overcome and help their employees.
Finding tools that can help with the consequences of employee loss is the reality for leaders across organizations going into 2022. With large amounts of employees transitioning, it's important to make sure internal intelligence is not only organized but accessible to everyone. The disorganization of internal intelligence is making it even more difficult when employees depart or when onboarding a new one. The lack of effective internal knowledge management systems often results in new employees struggling to find existing corporate information and a much longer time required for successful onboarding, and immense amounts of data lost when employees leave for new opportunities. Tools like knowledge management systems were created to preserve and organize internal intelligence, resulting in more employee empowerment and retention of corporate intelligence.
Below are a few examples of how the implementation of a knowledge management tool can aid in the challenges of employee transitioning.
Knowledge management simplifies the onboarding process by helping new hires get up to speed more quickly. Effective knowledge management systems provide employees with a searchable knowledge base of HR policies, procedures, and other manuals giving them the ability to self-serve.
Loss of Institutional Knowledge
When an employee leaves a company, they often take a significant amount of institutional knowledge with them; all of the projects, files, and knowledge saved on their individual hard drives walks out the door with them. Knowledge management extends the life of projects and files previously worked on by allowing employees, for years to come, to benefit from the efforts of their predecessors.
High Demands on Subject Matter Experts
SMEs lose valuable time fielding repeated questions and requests that should be easily answered from information already documented. To avoid overworked employees working even harder, internal intelligence in a knowledge management tool drives efficiency and saves time for all parties involved.
Though knowledge management systems will never replace human intelligence, they have the ability to make knowledge employee's roles easier by saving them time, providing an abundance of needed resources with a few simple clicks, and can help those be able to focus their time on responsibilities that can move the business forward more quickly. Now is a great time to explore the tools that can protect internal company knowledge and mitigate the risks of the Great Resignation.