You top talent employee has just handed in his resignation letter. As if that is not bad enough, he was in a middle of a project with a very important client. He has received a more attractive offer from your competitor. How do you react to such like scenario? You may decide to counter the offer by paying him more. But for how long are you willing to play this game? What will happen if it becomes a trend?
Well the best thing to do I believe is to let go. Learning to manage the exit of an employee is an important aspect in knowledge management. It should be done as thorough as the recruitment. An exit interview should be conducted with an aim of ensuring continue communication with the employee. The organization should encourage the employee to continue keeping in touch with the organization despite moving on. The employee should be made to feel that the company values his expertise. The employee should be encouraged to maintain the lines of communication with colleagues he has left behind.
Reverse knowledge flow occurs when current employees of an organization freely share and exchange knowledge with former employees who moved to other organizations. This helps the organization to continue gaining from the expertise of the erstwhile employee. It also gives the firm the opportunity of knowing what the competitor is doing. The inhibited flow of knowledge is an important impetus for innovation and creativity.
It makes it easier for the reabsorb of the employee in case of come back.
Reserve knowledge flow provides an avenue for organization to acquire knew knowledge from their former employees, at no expense. Organization should thus to come up with ways and means of benefiting from reverse knowledge flow. How firms can do this will be discussion of the next blog post.