APQC Study Warns of "Great Retirement" Crisis, Cites AI and Knowledge Management

A new study by APQC (American Productivity & Quality Center) warns of an impending "Great Retirement" crisis that threatens to deplete critical organizational expertise. With over 11,000 Americans turning 65 daily and more than half of the workforce planning to retire in the next five years, many organizations are unprepared to manage this significant knowledge loss.

The APQC survey, which polled 1,000 professionals and was sponsored by eGain Corporation, found that 58% of C-suite respondents are very concerned about knowledge loss. Furthermore, 92% of organizations do not consistently capture knowledge from employees nearing retirement. The report emphasizes the potential of technology and artificial intelligence (AI) to preserve and leverage this valuable expertise.

The study suggests that AI-powered Knowledge Management (KM) can help organizations not only retain decades of accumulated know-how but also enhance productivity and resilience. While enterprise AI adoption has been slow, partly due to concerns about accuracy and compliance, early-adopting organizations can gain a significant competitive advantage. eGain CEO Ashu Roy noted that their clients are using AI to capture knowledge from real-time conversations.

APQC urges companies to strengthen their KM processes, thoughtfully integrate AI, and train their workforce in new technologies. Success, however, depends not solely on technology but also on robust content management, leadership buy-in, and a corporate culture that values knowledge sharing. The "Great Retirement" presents both a threat and an opportunity for organizations that act proactively.