I know this problem exists, but in all my business knowledge immaturity, obviously, I just learnt of this term: KEY PERSON DEPENDENCY It even has its own acronym - KPD (again, obviously). When you google ‘reliance on key person’, you’ll receive 130,000,000 results. It’s a big thing. In the search results this word appears more often than others: RISK And when you look further into the top solutions to this business problem you find them quite simply as…
SYSTEMS AND TRAINING. IDENTIFY AND DOCUMENT CRITICAL PROCESSES. CROSS-TRAIN.
So a big problem, with a simple solution.
Tacit knowledge is the accumulated know-how stored only in an individual’s head. And that which departs your company when they do. It doesn’t matter so much as to the reasons why this happens. It only matters that you take action to eliminate it as much as possible. Because its at these times the stress levels bolt upwards, as does the learning curve for others. Always a horrible feeling. So get that learned procedural knowledge out of heads. Get it into your system so it’s repeatable, and not lost. Reduce the dependency and you’ll also INCREASE THE VALUE of your business. Nice. Super nice.
Our simple and smart process templates provide you with the structure to do just that, quick smart.