The Business dictionary defines corporate amnesia as the "loss of corporate memory: skills that were not transferred and valuable knowledge which was not (or could not be) documented, due to excessive downsizing, frequent layoffs, or un-managed employee attrition." Simply put, poor knowledge management is the cause of corporate amnesia and organizations need to work towards eliminating this issue. Here are three ways to do that:
Knowledge exchange agreements
Freelance work and the outsourcing of services have become prevailing forms of employment. Consequently, employees come and go and, in most cases, take the knowledge they acquired with them. To combat this issue, organizations should form knowledge exchange agreements with external associates and create for them a platform on which they can interact with full time employees and pass on vital information.
Knowledge Management Systems (KMS)
This may seem like an obvious solution, but many organizations do not implement it. A KMS promotes the effective use of knowledge. It can help employees avoid wasting time searching for solutions; ensures there are no redundant pieces of knowledge in the system and helps users leverage the stored knowledge in their work life. However, one must keep in mind that a KMS will only benefit the organization if it is well curated, maintained and kept up to date.
KMS search tools
Google has reached the magnitude of excellence that you see today simply because it is a properly functioning search tool. People can rely on the fact that they will almost always find what they are looking for if they use the tool correctly. Similarly, a good KMS system should make it easy for employees to access data through features such as predictive analysis. Knowledge should also be marked with the knowledge provider's name or profile to allow others to gain direct insights from them if need be. Users should not feel that their search for knowledge will be complex and burdensome. Otherwise, their motivation to use KMS systems will diminish, making them obsolete.