The Association for Talent Development’s new research found that 85 percent of talent development (TD) professionals report that knowledge management is a central piece of their organization’s culture.
New research by the Association for Talent Development (ATD) revealed that organizations value knowledge management within their organizational culture.
“Strong knowledge management is important right now,” according to Knowledge Management: A Key Function of the Modern Organization, sponsored by Strategy.ai. “For the first time in history, there are five generations in the workforce. Organizations have long relied on the years of organizational and industry knowledge that the silent generation and baby boomers have gained, so they must plan for and mitigate that loss as these generations transition out of the workforce.”
Knowledge management can effectively achieve various organizational goals. Eighty-three percent of TD professionals reported that knowledge management is effective or very effective in improving efficiency and productivity within their organization, and 82 percent reported its effectiveness at preserving and transferring organizational knowledge.
Key findings from the report include:
Organizations use a variety of tools to capture, codify, and share knowledge, including document management systems, learning management systems, and intranets.
Planning for and mitigating knowledge loss when employees leave is a medium or high priority for 86 percent of organizations. Some organizations identify flight-risk employees, conduct exit interviews, or create succession plans.
Most organizations encourage collaboration and communication across five generations. Nearly three-quarters of organizations agree or strongly agree that knowledge is effectively transferred across generations.
Common challenges include lack of budget, staff, and time, and insufficient training on knowledge management tools. “Providing training on these practices ensures effective use of the processes and tools your organization has established,” the report said. “Additionally, organizations should encourage collaboration and knowledge sharing. Leadership should model best practices and make it clear that these efforts are valued.”
ATD surveyed 313 talent development professionals to discover the different methods and tools their organizations use, how they plan for and mitigate knowledge loss when employees leave, and their knowledge-sharing culture with five generations in the workforce.
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