{"id":16653,"date":"2021-09-27T11:06:49","date_gmt":"2021-09-27T08:06:49","guid":{"rendered":"https:\/\/www.talentlms.com\/blog\/?p=16653"},"modified":"2021-09-27T11:06:49","modified_gmt":"2021-09-27T08:06:49","slug":"knowledge-transfer-plan","status":"publish","type":"post","link":"https:\/\/www.talentlms.com\/blog\/knowledge-transfer-plan\/","title":{"rendered":"How to build a successful knowledge transfer plan"},"content":{"rendered":"

Close your eyes and imagine it\u2019s 1597. In America, the first pilgrim settlers tried, and failed, to settle in Newfoundland. In England, famed philosopher Sir Francis Bacon published his \u201cMeditationes Sacrae\u201d, in which he wrote that \u201cknowledge itself is power<\/strong>.\u201d<\/p>\n

Now open your eyes. OK, we all know what happened with the settlers. But, how about Bacon\u2019s prophecy? How did that pan out? Well, a quick peek into the world of HR and L&D and, almost half a century later, Bacon\u2019s observation still seems pretty spot on. Knowledge is<\/em> power. Particularly when it comes to business.<\/p>\n

What unites the world\u2019s most powerful companies today is a respect for and commitment to the sharing of information<\/strong> throughout the organization (its formal name now is a knowledge transfer plan).<\/p>\n

That doesn\u2019t mean that every employee has to know everything. Far from it. But it does mean that if your culture encourages and supports a knowledge transfer strategy (across locations, teams, departments, and grades) it\u2019s more likely to succeed.<\/p>\n

But why?<\/p>\n

Why you need a knowledge transfer plan<\/h2>\n

Chances are you already effectively onboard new hires<\/strong><\/a>. And have a solid process in place to ensure that before one of your employees leaves the company or moves to another role, there\u2019s a thorough handover period with their successor.<\/p>\n

A knowledge transfer plan is more than this.<\/p>\n

A knowledge transfer plan systematically identifies, captures, and documents critical information<\/strong> from experts across a business. It also ensures that this information is structured, stored, and transferred to everyone who could benefit from it.<\/p>\n

But why do you need to standardize and document this additional knowledge transfer process? Surely, if you\u2019ve already got the other formal HR processes in place (thorough employee onboarding and offboarding programs, for example), there\u2019s no need to overcomplicate things by adding to the admin.<\/p>\n

Let\u2019s take a look.<\/p>\n

Minimizing risk, future-proofing performance<\/h3>\n

The main objective of a knowledge transfer plan is to minimize the risks associated with the loss of talent and knowledge in an organization.<\/p>\n

If you\u2019re running (and plan on remaining) a small company, the risk of following an informal, anecdotal approach to knowledge transfer is fairly low. But, for most businesses \u2014 especially those looking to scale \u2014 a formal, documented knowledge transfer plan is an essential part of minimizing risk and future-proofing performance in an ever-changing operational world.<\/p>\n

Out of the office<\/strong><\/h4>\n

Take remote working<\/strong><\/a>, for example. A few years ago it was frowned upon, viewed as an inconvenience or a fad, and an exception to the rule. Now, (with a little shakeup from a worldwide pandemic), it\u2019s becoming the norm for many progressive businesses.<\/p>\n

It\u2019s a positive step in many ways. But, with a dispersed workforce, there\u2019s a greater chance of people and information becoming siloed. And of knowledge falling through the cracks \u2014 particularly tacit knowledge that\u2019s acquired through experiences, observations, and insights.<\/p>\n

On the up<\/strong><\/h4>\n

Scaling companies looking to build synergies<\/strong> are another good example of where having a structured knowledge transfer plan really pays off. Embedded in the belief that the whole is greater than the sum of its parts, the concept of synergy is closely linked with company acquisitions, mergers, or teams working more closely together.<\/p>\n

And it requires a systematic and structured approach to knowledge management to make it work.<\/p>\n

More than succession planning<\/strong><\/h4>\n

As we\u2019ve seen from the synergy example above, a knowledge transfer plan isn\u2019t just about planning for when a key employee leaves or changes jobs. It\u2019s something that proactively<\/strong> ensures there\u2019s a formal knowledge-sharing strategy in place to support the proper and efficient flow of information within an organization.<\/p>\n

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Building your knowledge transfer plan<\/h2>\n

So, how to go about it? The first thing you\u2019ll need is time. Setting up a knowledge transfer plan isn\u2019t a two-minute job. There can be a lot of information to gather and it does require careful thought. But once it\u2019s done, it\u2019ll serve you well.<\/p>\n

To guide you through it, we\u2019ve created a knowledge transfer plan checklist<\/strong>. Under each of the five steps below, you\u2019ll be able to check off: what needs to be done, who needs to be involved, and why. So, let\u2019s get started.<\/p>\n

Step 1. Identify needs<\/strong><\/h4>\n

This first step sets the standard for the rest of the plan. Here, you need to pinpoint what type of information needs to be gathered and from whom. Questions to ask include:<\/p>\n