Sources of Data and Employee Retirement - Coursework Example

Sources of Data and Employee Retirement Introduction Every organization must rely on some specific data sources so that it makes informed decisions based on the knowledge obtained. Effectiveness of these sources varies thus calling for improvements in some cases. The retirement of baby boomers lead to loss of some knowledge from the organization. Therefore it is important that companies get prepared for the exodus of baby boomers to avoid being paralyzed by their exit. This paper is going to highlight some sources of data and also discuss the role of baby boomers and newer generations at work. DQ5.1 (1)What are at least three data sources you rely on at your place of employment to do your job? At my place of work, flow of data from one point to another is a major part of the work to be done. The various kinds of data collected and distributed in the work area are very important in ensuring the organization becomes successful in achieving all the goals that are set to be scored[Cur11]. Therefore, it is very crucial that the source of these data to be credible and reliable. In our organization, different departments can rely on different sources of data to obtain the information they need. At my employment area, the three main sources of data are graphics, web services and databases. Graphics prepared by relevant personnel are usually relied on when specific statistics are to be given. The statistics in these cases are those that are trying to compare different periods of operation. Sometimes, the graphs are also used to indicate the performance of a product in the market[Jai12]. Databases are also reliable source of data in my area of work. From the database one can access information about anything that was fed into the operating system of the firm in an easier way. Web services are also used to access information about other competitors and even clients of our firm. Through different reliable online information sites we get exposed to the globe[Hon13]. (2)Discuss the effectiveness of each data source and suggest how at least one of the data sources might be improved in terms of data quality, data access, data timeliness, and data availability. These three major data sources we use at our job area are effective in making our operations easier and better in various ways. The graphics we use are important when presenting results of a project that a team has been working on. When clearly drawn, the graphs also indicate the progress of any activity being undertaken by the organization[Hol15]. Databases are also effective when data is to be sought so urgently. Just from punching in names or figures, the required information is found. Web services are responsible for providing latest information thus they are efficient. Through the various online platforms one becomes informed of daily occurrences in the market. The use of database as a source of information can be improved at different levels. For instance, to improve the quality of data from this source, strict filtering of information fed into the system is recommended. Accessibility of this source can be enhanced by creating usernames for every worker through which one accesses the database. The idea of usernames for every colleague is also going to make data more available and thus save on time[Khu12]. DQ5.2 (1)Based on the literature, define data, information, and knowledge. Use the current department that you work in or a project team that you have worked with and discuss how knowledge of the team members was captured, stored, and made available to others in the department or on the team. Data are presented facts that are intended to display some idea or to support a phenomenon. On the other hand, information is data that has been properly presented after being calculated and summarized. Knowledge is the understanding that someone has about some idea. The understanding is usually derived from the data and information that one has been exposed to[Jon11]. Sharing of knowledge among team players is crucial if the team wants to achieve its set goals at the recommended pace. In a team project set to assess the effectiveness of our organization towards satisfying our customers’ needs, a lot of knowledge was shared among the team members. The knowledge of the members was captured through team discussions where everyone shared what he/ she had in mind about the study. The knowledge captured was stored through writings in form of minutes. Any other material provided was also stored with the head of the team. Members could access what their fellows presented by attending the team meetings organized. In this platform people listened to what others brought on board as they picked important ideas[Ken13]. (2) What recommendations to improve this process can you provide? The process of sharing knowledge used by our team for the project was effective but some improvements could make the process more reliable. For instance, more meetings ought to be organized so that team members get more platforms through which they can share the knowledge they have. A wider knowledge base makes the team able to make informed decisions and appropriate conclusions[Kan13]. Providing a variety of channels through which knowledge from team members can be shared is also important. The members should not be tied to only meetings that are conducted once in a while. Instead of doing this, the management should avail other avenues through which people can share the ideas and understandings they have with their colleagues. Another recommendation to be done to the process is showing appreciation to those that provide knowledge to the team and the organization. Appreciation can be in form of giving tokens or even applauding one in front of the team. Doing this helps in making the team members always on toe when working to avail knowledge to the team. Therefore, the process of information and knowledge sharing is going to be more effective[Tay14]. DQ5.3 (1)Discuss knowledge and information that might be lost to organizations as baby boomers retire. There are two broad categories of information and knowledge. The categories are explicit information and tacit information. The former is a category of information that can be analyzed easily and stored without many problems of understanding the information. Tacit information is one that is so hard to comprehend and thus passing it from point to point is hectic. Baby boomers are the old generation employees who mostly posses the tacit information. The retirement of these employees will lead to organizations loosing tacit information[Liu11]. Tacit information is one that is acquired through experiences and other life stories. Once the baby boomers leave their jobs the organizations will have to employ younger employees who in most cases are usually new into the job market with no experience. Therefore the firms are going to lose skills. Retirement of baby boomers is also going to cost organizations properly nurtured skills. The skills that these employees have are usually creative and productive due to their experience in the job areas. Therefore, when companies lose these workers the knowledge they had also leaves. However, there are various ways through which organizations can try not to let go of the skills the baby boomers have in them[Noo13]. (2)Based on the literature, do you feel organizations have prepared for this loss of knowledge? The loss of knowledge is one blow to the curriculum. The organizations lose their sources of data due to retirement of the experienced baby boomers. Many organizations are not prepared for the departure of the old generation. There is very little preparation among organizations to handle the gap left by retirement of the old generation workers. There are fewer arrangements by companies to accommodate the changes. The management of such teams and organizations should organize programs through which the baby boomers can offer their knowledge to the new employees. Despite how beneficial such programs would be, many business organizations are still not adopting such systems[Rat12]. There are no clear procedures of passing information in these organizations. There should be various channels through which the experienced workers can share their knowledge and information to the new generation employees. If organizations were really prepared for this tough scenario, then many workshops and seminars out to be introduced to help the seniors meet the new juniors[Pot14]. Therefore it’s my conclusion that organizations are not well prepared for the loss that comes along with retirement of the baby boomers. The retirement of the elderly generation brings in a big challenge to the organization thus the need for preparation. 3)How would you describe the organizational readiness for this baby boomer exodus within your organization? The exodus of baby boomers from any organization is a crucial transitional stage for the businesses. Due to this it is important that the management of the organization prepares various ways through which this exodus of old generation employees takes place. The organizational readiness at my place of work is good compared to what many other organizations do in relation to this. In our firm there is a actively running database where information is collected. In the database it is possible to store the data and knowledge that one offers to the organization for a long period of time. Therefore, the knowledge and information availed by the baby boomers is able to be accessed at future dates. It is this information that is going to be useful when preparing the new generation employees to take over[Pot14]. Interaction of employees from different generations is also encouraged in our organization. Those workers who entered the company many years back are usually advised to create time and discuss work issues with workers who have just been introduced into the organization. Seminars are also conducted severally to encourage mingling of the workers and sharing of important ideas. All these activities show the level of readiness of our organization for the baby boomers exit. The exodus of these experienced personnel may cause the company a big loss if proper exit strategy is not used. 4)What knowledge might newer generations be bringing that could supplant the baby boomer knowledge? Many cases have been presented to illustrate how an organization stands to lose a lot when the baby boomers will be retiring. Despite all these cases, the newer generation workers are also very crucial to the organization. What many managers and leaders forget is that this old generation exodus is a challenge when proper strategy is not used to enhance the exit. The newer generation workers are usually composed of young aged people. It is the same young people who form a bigger portion of the market today. Therefore, it is these workers who have the best information about the market of the today generation. The newer generations are also more conversant with the internet and internet use is among the characteristics of the today market. The technological knowledge of the newer generation can supplant the knowledge that baby boomers have and drive the organization towards success. The type technological know-how that these new employees have can help in making better use of the experience that the baby boomers have. It is so clear that with advanced technology work becomes easily done efficiently. Therefore, the knowledge of these two generations is both important to the organization[Kan13]. Conclusion Different sources of data can be used by an organization to capture data required for operations. These sources can be improved to enhance efficiency. For example, the use of database can be made more effective by serious scrutiny of data being feed into the system. The baby boomers are a good source of knowledge to a business thus the need to secure the knowledge they have before retirement. In the same way, new generation workers are useful to the firm. Therefore it is okay to conclude that every source of data and knowledge is reliable for an organization. References Cur11: , (Curtis, 2011), Jai12: , (Jain, 2012), Hon13: , (Hong, 2013), Hol15: , (Hollenstein, 2015), Khu12: , (Khurshid, 2012), Jon11: , (Jones, 2011), Ken13: , (Kendig, 2013), Kan13: , (Kang, 2013), Tay14: , (Taylor, 2014), Liu11: , (Liu, 2011), Noo13: , (Noone, 2013), Rat12: , (Rattenbury, 2012), Pot14: , (Poterba, 2014), Read More