A succession planning framework contains several building blocks. From identifying critical roles to preparing those next in line for leadership, organizations have much to consider. With a comprehensive succession plan in place, businesses run uninterrupted when a leader departs.
One key element of a succession plan is the successful transfer of knowledge to new leadership. Knowledge sharing is crucial for empowering new leaders to thrive in their roles confidently. It also encourages collaboration and fosters a supportive team environment.
From detailed documentation to mentorship programs, there are countless ways to develop the knowledge sharing portion of your succession plan. Let's dive into some creative strategies and a step-by-step methodology.
What is Knowledge Transfer?
By definition, knowledge transfer is the passing down of any relevant organizational knowledge to successors. "Knowledge" refers to a wide range of information, including the status of current projects, cultural dynamics, and role responsibilities. Knowledge may also be technical in nature, like how to use a software program.
Skipping the knowledge transfer step when creating your succession planning template could be costly. Without passing on critical information to new leaders, organizations lose productivity and have a frustrated workforce. In one study, researchers estimated that a lack of proper knowledge transfer costs large U.S. businesses (100K+ employees) up to $265M per year.
Creative Knowledge Transfer Strategies
Knowledge transfer comes in many forms. There is no one-size-fits-all approach, and the methods you choose will depend on your organization. Let's examine some creative strategies.
- Mentorship Programs: Through mentorship, employees tapped for leadership roles learn directly from their predecessors. When such a program is in place and running smoothly, employees feel more prepared to step up
- Job Shadowing: Along with mentorship, job shadowing is a great way to pass down knowledge from in-house experts. It also provides successors with hands-on experience and a risk-free simulation of their future role
- Documentation of Processes: Documenting organizational processes through flowcharts and manuals facilitates knowledge transfer. When implementing a documentation program, ensure that the material is easily accessible and updated regularly
- Critical Incident Reporting: In a critical incident report, difficult situations (or incidents) are recorded along with their resolutions. Through this type of documentation, employees learn from these experiences without having to go through them. When faced with challenges, successors can pull past incident reports for guidance on how to move forward
- Storytelling: A more informal way of transferring knowledge is through storytelling. Consider holding meetings for identified successors where current leaders share their career journeys and how they overcame trials along the way
5 Steps to Creating a Succession and Knowledge Transfer Plan
Implementing a successful knowledge transfer program in your organization is easier when you have a process. Here's a five-step framework for including knowledge transfer in your succession plan:
1. Identify Knowledge GapsKnowledge gaps, especially those within critical roles, can negatively impact successors. Identifying these gaps should be your first step in this segment of your succession plan.
Once you understand your organization's knowledge gaps, you can customize learning and development programs to fill them. To identify gaps, conduct routine assessments. You can also interview current leaders and ask for feedback on areas where they wish they had more training.
2. Develop Learning ProgramsOnce you've identified what needs to be shared with successors, it's time to develop knowledge transfer programs. Incorporate the strategies outlined above or choose your own based upon your organization's culture and needs. To keep a balance in your knowledge transfer programs, be sure to cover both leadership development and technical skills.
3. Promote CollaborationWhen implementing any organizational program, employee buy-in is a key to its overall success. Create initiatives around knowledge transfer activities that encourage cross-functional collaboration.
The more exposure successors have across teams, the more well-rounded they'll become. Additionally, ensure your successors understand the importance of knowledge sharing for their future leadership roles.
4. Utilize Technology
Leverage HR and training technology to streamline your knowledge transfer program. Use your Learning Management System (LMS) to distribute training modules or create a knowledge base stored on the company intranet. Even a simple shared folder on the company network is a great way to store and share key documentation.
5. Develop a Reward System
Incentivizing your knowledge sharing program will help foster adherence and participation. Reward employees who successfully complete programs and collaborate across teams. Don't forget to reward and recognize employees who contribute to the build-out of programs, as well. The success of your overall knowledge sharing initiatives hinge on their sharing of skills and expertise.
Unleashing the Potential of Your Organization
When it comes to knowledge management and succession planning, identifying future leaders is just a part of the process. Making sure successors are properly equipped to handle new leadership roles is mission critical. With the right plan in place, organizations position themselves to move through transitions with ease.
If you’d like to learn more about knowledge sharing in a succession planning framework, or how to develop a custom succession planning template, connect with us or consider attending one of our upcoming leadership events.
