Unlocking Industrial Potential: Transforming Tribal Knowledge into a Strategic Asset

In mission-critical industries like power and water utilities, telecom, oil and gas, and manufacturing, the concept of asset management has undergone a significant transformation, driven by advancements in IoT, Gen AI, and predictive analytics, to name just a few. Today, digital twins and sophisticated lifecycle management tools allow companies to predict maintenance needs, optimize performance, and extend the life of their machinery. But while these companies are masters of managing their mechanical assets, they are often neglecting another equally valuable asset: the tribal knowledge held by their senior industrial experts.?

The Generational Skills Gap Crisis?

The generational skills gap is a growing crisis across industries. According to 德勤 , 25% of the industrial workforce will retire by 2025, creating a significant loss of knowledge and experience.(1)? A study by The Manufacturing Institute - MI found that 60% of manufacturing jobs remain unfilled due to the skills gap, further emphasizing the urgency of the issue.(2) As baby boomers retire, the tacit knowledge they possess—knowledge gained through years of hands-on experience and problem-solving—is at risk of being lost forever.?

This knowledge isn’t something that can be easily documented or transferred in a single exit interview. It’s deeply ingrained, often difficult to articulate, and has been developed over decades of nuanced experience. In some cases, companies approach this issue as an end-of-career crisis—scrambling to extract as much knowledge as possible before these experts retire, or worse, lack the time and resources to tackle the problem effectively. Both approaches are fundamentally flawed.?

Rethinking Knowledge Management as Asset Management?

What if companies started viewing their industrial subject matter experts (SMEs) as critical assets, much like their machinery? Just as companies use asset management tools to monitor and manage the lifecycle of their equipment, they should be employing similar strategies to capture and utilize the tribal knowledge of their workforce.?

However, capturing knowledge isn’t enough. It’s about turning that knowledge into actionable information, making it readily accessible to the workers who need it. Traditional knowledge management systems often fail in this regard—storing valuable information in SharePoint sites or databases where it goes unnoticed, unused, or is disconnected from the context where it's needed.?

Enter Tacit: The Solution to the Knowledge Gap?

This is where Tacit comes in. Tacit is designed to capture tribal knowledge when and where it’s needed, converting one-to-one knowledge exchanges into scalable, one-to-many insights. By treating knowledge as a critical asset, Tacit ensures that the expertise of retiring workers doesn’t just fade away but becomes a permanent resource that future generations of workers can tap into.?

Tacit also addresses a common question: Why would an industrial expert share their knowledge? The motivations vary—from altruism and the desire to mentor the next generation, to financial incentives and recognition. Tacit supports all these conditions, providing a platform that rewards knowledge-sharing while ensuring that this invaluable asset is preserved and accessible.?

The Road Ahead?

As the industrial workforce continues to age, the companies that succeed will be those that recognize the value of their human assets as well as their mechanical ones. The tools and strategies are available now to prevent a catastrophic loss of knowledge and ensure that the industrial sector is prepared for the challenges of tomorrow.?

By bridging the gap between asset management and knowledge management, Tacit is poised to play a critical role in preserving the legacy of today’s industrial experts for future generations. The generational skills gap may be a significant challenge, but with the right tools, it’s a challenge that can be overcome.?

Take the first step toward safeguarding your organization's invaluable knowledge assets. Connect with us today to see how Tacit can transform your tribal knowledge into a strategic advantage for the future. Don't let expertise fade—make it a permanent, accessible resource.

Sources:?

1. Deloitte (2021). "25% of the industrial workforce will retire by 2025."?
2. The Manufacturing Institute (2023). "60% of manufacturing jobs remain unfilled due to the skills gap."?

Photo by Christina Hawkins on Unsplash