Knowledge retention in knowledge management system: Review

Knowledge retention is a topic that comes up in many discussions of knowledge management. The primary concern is how to tap the brains of employees who are retiring, moving on to new jobs or otherwise leaving the company. Of course, there is no one way to create good knowledge retention. This necessitates different approaches for knowledge sharing or knowledge retention. Loss of critical knowledge has been recognized as one of the central problems in an organization like banking sector. In addition, the events like 9/11, where the whole teams or departments with their valuable knowledge were destroyed, make organizations more sensitive of the problem of knowledge loss. Knowledge retention activities and policies need to be institutionalized throughout the organization so that proper transitioning can occur when people leave the organization. Banks have to develop a simple process to capture the undocumented knowledge of employees nearing retirement andt also for the new employees from the beginning stages.