Construction companies depend on the skill and expertise of their organizational leaders to ensure the company’s projects meet quality standards and client expectations while staying on time and on budget. Company leaders, including project executives, head contractors, senior structural engineers, and chief architects, embody years of specialized experience and problem-solving skills that can be difficult to replace. When one of these professionals leaves the company, the impact on the organization and its clients can be significant—especially if there hasn’t been well-considered knowledge transfer as part of succession planning.
What is knowledge transfer?
Effective knowledge transfer is a deliberate, systematic process that ensures the valuable insights and expertise of seasoned staff are available to those remaining at the company. It is a key aspect of succession planning that involves identifying what knowledge needs to be shared; capturing that information; organizing it; and making it accessible.
When done well, knowledge transfer can enable project continuity and preserve client relationships—even when a beloved, long-time leader is gone. Poor execution can result in project delays, heightened risks, unintended errors, and strained client relationships. In the long run, it may cause the company to miss opportunities, lose business, and relinquish market share.
