Employee Retention
An organization's ability to keep its key people — and with them, their knowledge.
What it means
Retention is usually addressed with pay and benefits. From a knowledge perspective, though, it's also about reducing the impact if someone leaves anyway.
Why it matters
Even the best retention strategy can't stop retirements. Knowledge retention is therefore a necessary complement to people retention.
A real-world example
An organization keeps 90% of its experts, but the remaining 10% hold the most critical operational knowledge.
A situation where an organization loses the holder of critical know-how.
A worker whose knowledge or decision-making is irreplaceable for operations.
An organization's ability to keep functioning without losing know-how as people change.
Managing the development and succession of key people in an organization.
An organization's readiness to replace key people without losing their know-how.