| In today's turbulent times, organizational leaders are devoting closer attention to how their organizations are run and focusing on customer needs. Many are restructuring whole divisions and business lines, while using voluntary early retirement options (VEROs) and reductions-in-force (RIFs) to address current staff imbalances. One potential result is the loss of organizational memory. As people leave the organization, they may take with them the knowledge and skills of how the work is done.; This purpose of this study was to understand the impact of radical change initiatives such as large VEROs or RIFs on the organizational memory system (OMS), specifically the tacit and explicit knowledge held by individuals. A qualitative case study design was used to explore and describe OMS in a securities industry organization that experienced radical change. Interviews, document analysis, and observation followed by thematic coding and analysis using Atlas.tiRTM software were used to collect and analyze data. Sixteen organizational officers, directors, managers, and specialists participated in the interviews.; Findings from this study suggest OMS devices in use before, during, and after radical change initiatives were---people, social networks, knowledge centers, computer-based information technologies, and other knowledge retention devices. However, the degree or proportion of use of these devices changed after the change initiatives. While people remain the primary preferred aspect of the OMS, the use of social networks, knowledge centers, and computer-based information technologies increased.; As a result of the VEROs and RIFs, the quantity of expert knowledge and experience had decreased, which required employees to seek out more employees than they did before the changes to obtain the information or knowledge required. Overall, there was some loss of knowledge, but the loss appeared to have no effect on the organization's profitability.; Findings suggest that certain factors---industry role, nature of the work, and the configuration of work groups---may have influenced the results. Other factors were a management team strongly committed to change, protention of thinking, and continuous communication. It seems these factors influenced why the organizational memory did not change that much.; Through activities of sensemaking, succession planning, automation, and training, the organization managed to develop and increase the use of its memory system to retain knowledge as well as generate new knowledge. |
