The job market may still be tight, but that does not mean you aren't at risk of losing key talent in the near future. Baby boomers are approaching retirement age, and other workers are always looking for something better. To avoid losing essential knowledge when employees leave, it is useful to have a "technical talent management" program in place, writes CIOInsight's Dennis McCafferty. 

Engineers, developers and other IT experts tend to hold the keys to your company's architecture and applications, according to William Rothwell, author of Invaluable Knowledge: Securing Your Company's Technical Expertise. By managing this technical talent, you can hold on to the institutional and operational knowledge underpinning your operations.

Part of managing technical talent is keeping an inventory of the institutional memory of anyone approaching retirement. In a similar fashion, you need to have a handle on departing employees' special knowledge regarding customers and products, as well their insight on processes and workflow.

Employees should switch jobs temporarily from time to time to make sure that they are trained in different roles and functions. Rothwell also advises that one employee should be designated to shadow critical employees preparing to depart.

For more:
- see Dennis McCafferty's slideshow at CIOInsight

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