Today, the average age of the U.S. workforce is approximately 42-years-old, but it’s the younger generation – millennials – that are getting ready to the take staffing by storm. In the next five years, workers born between 1982 and 2004 will comprise half the global workforce, making it critical for employment managers to recognize the generational gap of workplace knowledge.
The theory of knowledge transfer may seem straight forward, but it’s far more expansive than just a communication of information. In order for it to benefit a business, there needs to be a willingness to accept, learn and give knowledge that is beneficial to the betterment of the company. This requires special attention to how generations interact within your business – especially when recruiting.
If executed properly, knowledge transfer can improve your bottom line. Here are a few benefits:
- Risk management: Hiring can inherently be a high risk activity as you’re investing a significant amount of time and money on the belief that a new employee will be able to match or exceed their proposed expectations. Ensuring all your new hires assimilate with you company through knowledge transfer practices can help eliminate that risk and accelerate the orientation process.
- Contingency: Knowledge transfer is one of the best ways to capture vital information about your business operations before it leaves. Having higher seniority staff share and teach younger employees can boost your contingency in the event of turnover.
- Culture of success: With varying generations in a given workplace, it’s important to create a culture of success and knowledge transfer can help. Having two-way conversions on workplace knowledge can benefit your entire staff and let them feel more connected and more inclined to ask questions, present new ideas, and develop innovative tactics.
Effective knowledge transfer should begin immediately during the hiring process, making it important for your business to pay close attention to how you handling staffing and recruiting. By partnering with a staffing franchise, such as AtWork Group, you’ll be able to begin the process before a new or even temporary hire steps foot in your business. To find out more, contact us today.