Quik Pro

Currently over 40% of U.S. work force is entitled to retire at the end of this decade. This represents 40% more than 64 million Americans "Baby boomer", born between 1946 and 1964. With capital investment by the incredible man in these workers, it is hard to imagine the huge potential business losses in the U.S. is terrible, when these boomers decide to leave the workplace. This article examines the cost of this lost knowledge.

Disaster looms?

The potential for disaster is horrendous, boomers like deciding whether to go out of business en masse, or remain at work in a capacity limited that is, moving to a schedule of part-time job. Either way these boomers carry with them the treasures treasures of tacit and explicit knowledge acquired to over many years on the job. While experts agree that there is no uniform solution to the wave of "gray", a central strategy of top management throughout the country is threefold:
(A) retain key talent,
(2) development of new leaders and
(3) the development of knowledge management initiatives.

Therefore, a vital part of any strategy for knowledge management in general is growing and tacit knowledge transfer (also identified as business wisdom) of these key employees long before they leave.

What is tacit knowledge?

Knowledge tacit (BI wisdom or depth) is content in the heads of the employees that hold long, the key that allows them to make quick decisions wisdom based on years of experience. This knowledge is not in the training manuals, but the head of the person performing the task on a daily basis. And this group knowledge is billions.

Urgent-Start Now!

Already in 2008, industries in the United States are already experiencing shortages of skilled workers and knowledge. Companies must begin to shift the attention of those ready to retire, or those eligible to retire at least twelve to eighteen months before leaving given that many may choose to use to leave it unused. Subsequently, it takes a total of four months for new leaders to be fully functional. So that to have these skills remain crucial in the house and available for the next generation of workers, knowledge management teams need to start one of sixteen to twenty months in advance for their KM programs to be effective.

Hence the need for businesses, organizations and governments (in federal, state and local) to develop comprehensive plans for retention of knowledge that identifies, captures, retains and spreads tacit knowledge and critical life skills to the next generation of workers is critical.

Billion Dollar Lost Factors

The cost of losing an employee can range from 1-5 times annual compensation, including lost business performance, customer satisfaction, and costs of recruitment and development of new employees to the level performance of their predecessors. Losing good companies billions of dollars cost talent each year. And any manager can attest to the fact that it is much cheaper to retain talent rather than recruit and train new talent.

Retaining staff satisfaction and keeping employees is correlated with high career planning, employee development and training programs that enable employees to broaden their skills and grow within an organization.

Billion Dollar Factors Training

According to a 2005 survey of Fortune 100 best companies to work, the average number of hours dedicated training to employees per year for Fortune 100 company was 54 hours. Loans Quicken offers training hours 250/year with Yahoo recording, at least four years. Nine companies an average of more than 100 hours of training, which included retailers such as Whole Foods Market and the Container Store.

Valero Energy and Quik Trip, who was third and 21, respectively, an average of 67 and 20 hours of training. Included in Fortune with each company a section: "What makes it so great?" Some of the comments included:

1. Employee Ownership and participation.
2. People are our business.
3. People-centered strategies.
4. Employee growth and development.
5. Trusted employee.
6. Respected and valued employee.

The best training companies among the 100 best views and development as an investment, rather than an expense. Firms that view training as an overhead cost cutting the budget in a down economy.

Leading companies invest billions annually in training

Many of the best performing companies, such as Marriott, Starbucks, FedEx and Ritz Carlton are making extra investments in training. The training is so valued at FedEx is the policy all members of the management to participate in 40 hours of training each year. Marriott along invests more than $ 100 million annually in training and get this, has one of the lowest rates of turnover in the hospitality industry.

Companies that make unusually large investments in training and development (A key cutoff is about $ 1,000 per employee) tend to have lower employee turnover. With companies that perform this type of investment in human capital is not difficult to imagine that the potential for massive losses to U.S. companies is horrendous as boomers leave the workplace.

Know your costs lost knowledge

Companies, organization, and governments are challenged to sit calculate what it will cost to lose one, two, twenty or long holder (key) employees. Included into the equation are the costs to replace and train the replacement for the key employee. And factoring for the mistakes committed by new trainees. When you add all to get a clearer picture of how many billions of dollars are spent in this country to replace and train good talent each year.

The key is how serious the organization takes the threat of talent good can come out for the simple door at any time and the collective cost to companies could reach billions of dollars.

Copyright © 2008 Cubie Davis King. All rights reserved.

References

D'Amico, E. (2008). Talent management. Chemical Week, 170 (11), 22.

Greens, KA (2006). Knowledge management. Leadership Excellence, 23 (6)

19.

Kornik, J. (2006). In the minds of managers: skills shortages and the new address. Training, 43 (6), 16.

Leonard, D., & Swap, W. (2005) deep intelligence: How to cultivate and transfer. Boston, Mass
Harvard Business School Press.

McKenna, T. (2006). Training: The common denominator for success. National Petroleum

News (6) 6.

Dynamic, energetic, stunning, deserving of a standing ovation. These are but a few words to describe the stage presence of international author and speaker Dr. Cubie Davis King. Well educated with a Ph.D in Training & Performance Improvement, a resume which includes 9 years military service, and executive positions with Xerox & CitiGroup, Dr. King has won top performance awards at every single place he has ever worked at. He is a well sought after speaker and is currently on an international speaking tour to promote his new book "America's Red Hot War for Knowledge & Skilled Workers." Dr. King is an adjunct professor at National University San Diego, CA

Once again, in his signature way-Dr. King takes a complicated yet sobering subject and makes it palatable and entertaining for everyone on your staff to understand. Because America is headed for a WAR unprecedented in the history of the United States, Dr. King has devoted his work to getting the word out.

To read more about this coming WAR of 2011 that will shock America go directly to Dr. King's website http://www.goldcrowninc.com

Round 1 Quik Pro 2009 - Highlights

Best Friend

What best friend rituals can i do for my sleepover tonight?

My best friend in the whole entire world and is my heart and who i would do anything for her, are having a sleepover, but not just any sleep over, its a sleepover we only have once a year, and its our anniversary, were going on 8 years and i want to do something extra special, and yes, we are planning to bury a time capsule. Any ideas????

A circle of candles in the wood floor, fire the incense and trhow the magic powder to each other and the ritual is done YAY!

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Small Area

How to print each page of spreadsheet on entire page, currently prints page in a very small area of the paper.

I am using a spreadsheet form Openoffice.org, which is similar to excell. I selected to view sheets in "page preview." I think I saved it in that mode, because after I viewed it and put it back on "normal view" it would no longer print out properly. It only prints each page of the spread sheet in a very small area of each page. Please help! I need to complete this report tonight - May 14, 2008.

Thanks much

Openoffice I don't know, but in Excel you can change the size of the font used in the spreadsheet to make the part that fills the page as big as you like. There's a 'print preview' so you can see what the print will look like before you print it, and if it's not to your liking you can adjust the font size again. Maybe you can do that in Openoffice too.

Bo tai Bo, in a small area with a small broomstick