Oakbridges - Labour Relations Strategists

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Retaining Institutional Knowledge in A Downturn

Sat, 06/11/2016 - 22:39 -- Sue.Mackintosh
Retaining Institutional Knowledge in a Downturn. Its not business as usual. The massive restructuring Anglo American announced in December 2015 is just one more indication that the global mining industry is retrenching and taking drastic actions to survive. It is clear that industry leaders expect the commodity downturn could last a long time. It is at times like these that organizations need their best and brightest minds to help them navigate. It is not business as usual, although it should be! Cycles of boom and bust are actually business as usual. We need collectively to learn how to manage through both the booms and the busts. Article Outline: Not Business as Usual More than a Person Leaves The Consequences Talking the Talk Sleepwalking into the Problems Switching On Making the Right Choice In summary: 1. Plan for the inevitable cycles. 2. Identify key areas of experiential and institutional knowledge and risk. 3. Identify key “go-to” individuals with this knowledge. 4. Create opportunities for others to work with and along-side these people. 5. Provide systems to aid these in-field experts to pass on their knowledge. 6. Capture information in databases and transfer to new-hires and others.

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