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Knowledge at Risk: The Hidden Dangers of Tacit Knowledge

Do your analysts in engineering, science, and business often solve problems that have already been addressed? Or do they fail to utilize and repurpose valuable insights gained by their colleagues? Are you vulnerable to delays and disruptions when experienced staff leave or are unavailable?  If you answered yes to any of these questions, your organization is likely experiencing knowledge loss. This vulnerability arises from tacitly storing knowledge in people's minds rather than explicitly recording and maintaining it for easy search, transfer, and re-application. In 2020 and 2021, we surveyed over 100 engineering and science-based companies to understand how frequently staff fail to leverage prior knowledge. Astonishingly, around half of them reported that 40% to 60% of the time, valuable insights and solutions were...

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