5 Reasons to Consider a Knowledge Transfer Program

The transfer of knowledge is an essential aspect of any organization. Keeping a company’s infrastructure intact involves the passing along of insights gained through work experience. By implementing a structured knowledge transfer program, a company may benefit in a variety of ways.

Peer Mentoring Instills Confidence in New Hires

Depending on the environment in which they are placed, newly hired employees can feel lost and unsure of their capabilities. Even an individual with relevant education and experience may quickly become inefficient and ineffective in a workplace that does not offer adequate support. Conversely, a new employee may excel under the right conditions. If an individual receives the guidance and knowledge of a longtime employee who has experienced much success within a company, the new employee may gain an enduring sense of confidence. An employee who is confident could go on to achieve great things for a business.

Knowledge Transfer Preserves Critical Information

According to an article on Bloomberg Businessweek, countless people who are part of the Traditionalist and Baby Boomer Generations have left and continue to leave the modern workforce. In the absence of a structured knowledge transfer program, such individuals might leave a company without passing on any of their accrued wisdom to the next influx of personnel. This would leave new employees to learn everything that former employees might have taught them, thus wasting invaluable company resources that could be better spent elsewhere.

On-The-Job Training Leads to Better Communication

When new employees participate in on-the-job-training programs, they are given the tools to interact effectively with other staff members. Structured knowledge transfer typically includes training in practical matters, such as the established methods used by a company. A benefit that is sometimes overlooked is the fact that a peer mentor can offer insights about how to effectively communicate with certain clients, management staff, and other employees. Consequently, new employees may be more efficient at solving various communication problems than they otherwise might be. These are intangible advantages that can yield real and profitable results.

Structured Knowledge Transfer Gives Current Employees More Flexibility

Peer mentoring generally involves knowledge that is passed from one employee to another. According to career expert, The Muse, the transfer of knowledge takes place when an employee is planning to resign or retire. This is vital because an employee who is leaving a company may possess much knowledge on what it takes to be successful within that infrastructure.

However, knowledge does not need to be imparted only when people leave a company. One reason to involve current employees in the training process is because doing so enables them to move up in the company. If an employee knows that a promotion is imminent as a result of mentoring another employee, that person may strive to be sure that the new employee is given as many tools for success as possible.

Knowledge Transfer Increases a Company’s Flexibility

More companies than ever seem to be utilizing knowledge transfer as a training strategy. One major advantage of implementing such training is that it gives a company more flexibility. Instead of relying on a few staff members who are trained to do certain tasks, management might invest some time and money into a structured knowledge transfer program. Once an ongoing training system is in place, a company is not forced to rely on the skills and talents of a few employees. If a longtime employee retires, the effects of that action need not be devastating to a business.

According to knowledge transfer expert Steve Trautman, a company can establish a cost-effective, structured knowledge transfer program even if its employees bill hourly. The advantages of this type of training are both tangible and intangible. One detail seems clear: When a company invests in a structured knowledge transfer program for new hires, everyone involved may reap the rewards.

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