Paper and Presentation: The Great Resignation Fire and Knowledge Retention Strategies
Abstract: In 2021, over 47 million Americans voluntarily quit their jobs in what has been dubbed the Great Resignation (GR)—an unprecedented mass exit from the workforce exacerbated by Covid-19 (U.S. Bureau of Labor Statistics, 2022). This may be the greatest job market correction in human history as it has ignited countless opportunities for the project knowledge worker. However, the most challenging delimiter is that this great resignation creates knowledge attrition and impacts many project teams’ critical knowledge. The leavers/resignees have gone with their knowledge forever. This melee and trend aren’t going away!
Could these “quitters” be dissatisfied with the status quo? Research shows that knowledge retention positively affects job satisfaction, “The existence of Knowledge Management (KM) processes in one’s working environment is significantly linked with high job satisfaction. Especially, intra-organizational knowledge sharing seems to be a key KM process, promoting satisfaction with one’s job in most employee groups.” Aino Kianto, Mika Vanhala, Pia Heilmann, (2018). For way too long, organizations have paid lips services to knowledge management (KM) principles, like “lessons learning,” employees concerns, knowledge capture, retentions, and exchange.
Harvard Business Review research shows that this trend of knowledge spillage—great resignation started in 2009 through 2019 but was exacerbated by the pandemic and suggested five factors, Five Rs:
- Retirement
- Relocation
- Reconsideration
- Reshuffling
- Reluctancy
This hot-and-spicey workshop explores how Great Attrition becomes a Great Attraction, knowledge retention strategies, and lessons-learning transformation. Great Resignation is a Great Igniter
Learning objectives:
- Identify risks and opportunities of Great Resignation—its intersection with knowledge transfer best practices.
- Explore “living lessons-learning” strategies for knowledge retention in a great resignation.
Takeaways:
- Opportunities in the GR
- Strategies for responding to the GR
- KM tools to mitigate the bleeding
PMI Talent Triangle: Strategic and Business Management (Business Acumen)
Biography: Passionate, Benjamin Anyacho is a quintessential project-portfolio manager, knowledge management (KM) strategist, original thinker, and a curiosity-activator with 20+ years of results-driven leadership. His works have received industry and national recognition. He is a senior strategic PM at the Texas DOT. Benjamin developed an enterprise PM program that has mentored hundreds of PMs; 100+ certified PMPs; Led the designer of an enterprise knowledge management program, mentoring 50+ communities of practice. He was the 2018 charismatic president of the 3800-member PMI Austin chapter. Benjamin led the board to increase NPS from 6.5 to 8.7, membership by +400, doubled offerings, reduced attrition, and gained 97% overall customer satisfaction. He is a board of trustees member of Juliana King University, Houston, honored with a doctorate in leadership. He is a published author, a certified PMP®, and earned an MBA from St. Edward’s University, Austin.
