1. Presented By Nitesh Khatiwada Masters Of Business Management Nepal Commerce Campus Minbhawan; Kathmandu What’s Lost When Experts Retire By Dorothy Leonard, Walter Swap, and Gavin Barton December 02, 2014 HBR

2. Knowledge Management  Strategies and processes designed to identify, capture, structure, value, leverage, and share an organization's intellectual asset to enhance its performance and competitiveness.  It is based on two critical activities: a.capture and documentation of individual explicit and tactic knowledge b. its dissemination within the organization.

3. Coming to The Article  A research shows that 700 retirement means loss of 27,000 hours of experience  Most of the time managers don’t know what is lost until after the experts leave  Difficult to recover  Organizations face critical loss in following areas in particular  Relationships  Reputation  Re-work  Regeneration

4. 1. Relationships What is Lost?  Networks are destroyed  Right way to deal with different people  Contact address, phone number or email address are not sufficient  Problems:  When to use them  How reliable they are  What expertise they have

5. What is Lost? 2. Reputation  New employees don’t have the right level of experience and skills expected  Old employees know their client’s requirement, failure mode and work around  Customers get disappointed by retirement and dissatisfied with new employ’s work

6. What is Lost? 3. Re-work  Most time of new employee is spent on  Understanding Product line  Learning informal norms and ways to get things done  How organizational units interact  They don’t understand the right model for operation of business  Huge investment are wasted due to this problem

7. What is Lost? 4. Regeneration  Innovation springs form from fresh thinking  Experience is required for producing a particular type of design  Demands complex, unique and hard earned experiences

8. Findings  With huge retirees in RBB, NBL, NTC and others the knowledge with deep smarts also get lost  The trend of job hopping in Nepal also cause organizations to loose deep smarts  New hires or replacement pose problem in operations and costumer satisfaction  The value of such losses is estimated to be 20 times more to cost of new recruitment and training

9. Conclusion  The expertise of deep smarts should be preserved in an organization  It can be done through  right succession planning  knowledge sharing programs  asking right questions before they leave  But, it is not possible to capture all the deep smarts of those experts  The problems discussed above are not the only ones associated with lack of knowledge transfer

10. Thank You