A rapidly aging workforce in developed economies, the lack of skilled workforces within process and extractive industries, increasingly stringent local employment requirements and an increased reliance on contractors to perform specialized tasks all are contributing factors to declining institutional knowledge among businesses. Further complicating matters, many companies in the process and extractive industries believe employees must be engineers to understand the technologies relevant to those industries and how they operate. As a consequence, only those employees with the appropriate education or qualifications tend to be trained in advanced technologies, and some of these individuals are reluctant to share their knowledge or experience concerning specific processes and the associated risks of those processes within the organization.
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