Baby boomers and experienced, older employees are retiring at an alarming rate. With tons of knowledge leaving these companies, it is extremely important to retain as much of it as you can.
With no plan in place, lack of knowledge transfer could potentially cost large businesses $47 million per year, according to the Panopto Workplace Knowledge and Productivity Report.
Manufacturing companies, large and small, simply cannot afford to sit back and watch their most experienced workers’ knowledge walk out the door. A recent survey conducted by Express Employment Professionals showed that companies have been mistakenly doing just that.
57% of baby boomers said they shared less than half the knowledge needed to perform their job with their potential replacements.
21% stated they shared no knowledge at all.
Only 18% felt they shared all their knowledge.
If you look back to the Panopto Workplace Knowledge and Productivity Report,
The average employee spends 5.3 hours per week waiting for assistance or insights from coworkers.
66 percent of these delays will last up to one full week, and 12 percent will last a month or more.
Roughly 3 in 10 employees believe their organization does not provide an adequate amount of training for its employees. Half of those respondents state that their organizations could benefit from providing more training resources and opportunities for employees.
Where do we step in?
Notiphy can help your frontline workers be more productive faster by providing them with content, pictures, and videos related to the jobs and tasks they need to perform. You will be able to onboard new talent faster all while maintaining production efficiency. Additionally, all of the information related to the jobs is automatically saved and available to workers and management. There is no need for additional staff to file papers or transmit the information from paper to software. Finally, with Notiphy’s alerts and messaging capabilities, workers can easily get the assistance they need, freeing up supervisors and plant managers from always having to be personally available.
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