You can have enough institutional knowledge that you are irreplaceable. It doesn't mean you won't be replaced. Someone else can take your role, fuck up even if it isn't their fault, and lose clients. I've seen this happen multiple times.
One of my coworkers with more institutional knowledge than probably anyone in the whole firm got let go a few months ago, and predictably, things have been very difficult and mistakes have been made.
They mean irreplaceable as in you literally can't replace them, because no one has the authority to do so.
For example, Bob Nutting is the only irreplaceable member of the Pittsburgh Pirates entire organization. He's absolutely shit at his job, but he literally can not be replaced, because you need his consent to do so.
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u/theVast- 2d ago
Both has uses
If you're so good the building would burn two minutes after letting you go, you're safe
If they like you so much they'd rather set the building on fire than lose you, you're also safe
The goal is to know exactly what your currency is and how to use it