Scientists are known for their meticulous note taking while conducting experiments that hopefully validates their respective hypothesis. Most of the time experiments provide a contradicting result thereby leaving the scientist frustrated and angry. However, it is specifically this trial and error process that offers tremendous value to not only the current scientific community but also to the future generations that will reap the value of studying their predecessor’s notes.
This same principle of transferring knowledge applies in the business world as well.
Why am I even writing this blog?
Well, consider the facts.
In a recent business article titled Are Boomers Passing the Torch When They Retire, or Just Dropping It?, Author Richard Eisenberg provides the following data:
1) 4 million Baby Boomers leave the workforce every year;
2) Baby Boomers make up 31% of the current workforce;
3) 56% of the Baby Boomers are in leadership positions.
If we do not capture all the knowledge that has taken the retiring Baby Boomer Generation to gather, then we will simply never pick up where they leave off. In other words, this would be the equivalent to tossing all of their notes into a huge fire pit.
Consider one of my favorite quotes:
"Man can either buy his wisdom or borrow it. By buying it, he pays full price in personal time and treasure. But by borrowing it, he capitalizes on the lessons learned from the failures of others."—Benjamin Franklin.
Edgar J. Guzman