The current crop of college graduates expect to change jobs much more rapidly than their predecessors. This means businesses are going to face a lot more employee churn. On one hand, there may be some benefit of bringing in new employees with different perspectives, but it also means employees are going to walk away with a great deal of informal knowledge that their successors will have to spend time to acquire.
Systems that capture and retain free-form knowledge can position your business to survive more rapid employee turn over. Technology like internal wikis are inexpensive and easy to implement. The technical part of many knowledge retention systems are trivial to obtain and implement but it isn’t a silver bullet. To be effective, your organization will require cultural changes and a mental shift in how employees see their jobs.
Careful planning of both the technical and cultural requirements will help minimize disruptions from increased employee churn and increase the benefits from a constant influx of fresh perspectives.