Working closely with our clients, we have seen firsthand what happens when knowledge is shared effectively across an organization. In this blog, we share 15 ways we’ve seen companies benefit from intelligent knowledge management.
No matter how unique your business concept, what makes your business unique is the people who bring it to life. When employees share their knowledge, your organization benefits from everyone’s intelligence with SharePoint Consulting. This is why knowledge management plays a fundamental role in the success of companies.
Why is knowledge sharing important?
Major players like Google and Microsoft know the importance of team cohesion, employee engagement and creative collaboration. These processes all require the same foundation: effective knowledge sharing.
The open-floor offices of the 1990s were all about the shared learning and collective creativity that has been proven to drive the success of the world’s most successful businesses. However, in the early 2000s, managers realized that more was needed to foster collaboration.
Today, the focus is on supporting knowledge sharing and productive interaction. With the rise of remote working, effective knowledge sharing processes are more important than ever. Managers must ensure that collaboration and creativity flourish, even among a dispersed workforce.
Reap the benefits
Today, most managers know statistics: knowledge management is essential. But what does that mean exactly?
be widely shared across an organization and properly applied”.
According to global business intelligence firm, IDC, Fortune 500 companies lose at least $31.5 billion a year by not sharing knowledge.
When a knowledge sharing structure works well, the right people get the right information at the right time. They also know where to look and how to share. From a management perspective, this means disseminating information wisely, to maximize its value without overwhelming your staff.
Types of knowledge
Obviously, not all knowledge is created equal.
Explicit knowledge includes factual elements such as data, how-to guides, and memos. Tacit knowledge is more difficult to communicate. They include cultural beliefs, values and attitudes. But when it comes to making major breakthroughs in the workplace, says organizational learning expert Jerry L.
This is why services like encourage customers to include all employees in their platform, and to reach all teams, regardless of their role. These platforms organize knowledge and direct it to those who need it. Equally important is the fact that they facilitate the exchange of ideas and opinions. Indeed, many of them also have a built-in process for gathering feedback directly from employees and even customers. They also provide a centralized, online workspace to clearly articulate and communicate your organization’s ethics, goals and beliefs.
They thus transform tacit knowledge into explicit, written and easily communicated knowledge.
But then, what is our expertise based on?
For 13 years software department has evolved in step with the needs of its customers. Digital developments have greatly improved the ease of use as well as the complexity of these systems. We’ve seen companies weather a major recession and seen dramatic results in increasing their efficiency in knowledge sharing. The close relationships we have with our customers, as well as the importance we place on adapting to their diverse requirements, have given us a better understanding of what effective knowledge management can do for a business.
Benefits of Knowledge Sharing
Knowledge management methods are becoming increasingly sophisticated. Current platforms are often collaborative, and designed to promote the social and circular knowledge of companies. There are many options, and it’s important to find the one that works best for you. But one thing is certain: knowledge sharing is essential.
Here are some of the benefits of knowledge sharing that our customers have achieved over the past 13 years.
- Innovation and development
Clients come to us because they know knowledge workers need to understand their organization and the competition (STEEP). We help them create an effective knowledge sharing system that brings all employees together. This allows staff to be made aware of the company’s situation and to inform them about the market and the competition. So workers are able to keep up with what’s happening in the field and are inspired to think bigger.
- Commitment
Employee engagement is about making everyone feel part of their organization. We know that 80% of workers believe they should be better informed about how business decisions are made. There is no doubt that sharing knowledge empowers employees. They stay informed and know that their voice and expertise matter. Indeed, when an employee feels listened to, valued and involved, he is more invested in his tasks.
- Cohesion
Well-structured internal communication allows employees to collaborate better as well as to better distribute their common workload. An efficient, cohesive system allows teams to constantly refine their priorities. When communications are clear and automatic, everyone is kept in the loop and nothing slips through the cracks.
- Quick Thinking
By concentrating a range of diverse opinions in one easy-to-access place, knowledge sharing strategies save managers time. At a glance, managers can identify the changes needed to meet the needs of their employees.
- Fast delivery times
Likewise, effective communication makes responding to customer needs quicker and easier. When knowledge is shared effectively, procedural improvements integrate seamlessly into business operations
- Fast communication
In addition, by centralizing information, knowledge-sharing systems allow important facts to be communicated widely and quickly.
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