Reference no: EM133044797
Comprehension Question
Fincops Inc. has been recently acquired by Midwest Bank of Commerce. Following the acquisition, the new management is anticipating an increased workforce turnover and wants to have solid exit management strategies in place. As the existing manager, you have been tasked with creating the exit management and employee redistribution strategies.
Knowledge Transfer
Despite all efforts to prevent employee exits, the company still expects some employees to exit. The notice period of an employee is 15 days, which is not sufficient to hire a replacement. As a manager, what should be the correct action to retain the knowledge of the departing employee.
1) Ask the departing employee to finish the work that needs to be done in the next 3-4 months so that the new joinee gets time to settle down and understand the work.
2) Create a standard knowledge transfer document including details of processes, key tasks that were undertaken, etc. and ask the departing employees to fill out the document.
3) Ask the departing employee to stay at home and work from home during the notice period.
4) Ask the departing employee to brief all his work to you quickly in half an hour.
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