Throughout my career, I've seen how the institutional knowledge someone holds can be regarded as key to their job security. It's often considered an insurance policy of sorts, a reason to be kept around.
Knowledge loss, long relegated to HR and people teams, is a sweeping leadership issue that deserves more attention from a company's top executives and an upgraded approach that leverages newly available AI solutions.
Sugarwork, an AI-powered knowledge management platform, calculates that Fortune 500 companies lose $31.5B annually due to critical knowledge exiting their organizations.
Companies are leaning heavily on independent contractors and freelancers to reduce expenses. Freelance talent inevitably takes knowledge with them when a contract ends.
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