Last updated on Jul 28, 2020
In the world we now live in, information is output faster than it has ever been before. This means it’s often difficult to find the information we’re looking for at the time and place we’re searching for it. ‘Information overload’ has become a very real problem and it’s made recognizing the valuable data in among the chaff exceedingly challenging.
Companies are gradually realising the benefits of knowledge sharing tools to help curb some of this ‘overload’.
Knowledge sharing has the ability to help us recognize the information that really matters and get a better understanding of the way the company works and how it can be improved. On top of these benefits, by nurturing a culture that promotes knowledge sharing you can help to fill information gaps, increase innovation, and make information more accessible to drive efficiency gains and develop new competitive advantages.
In this blog, we take a look at how a knowledge sharing platform can deliver significant benefits in your business.
Companies that take full advantage of knowledge sharing methods can create a social learning atmosphere in their workplace. A program like Document360 encourages teams to create, collaborate, and publish within their knowledge base system regularly.
Not only is information an important part of the success of any company, the way it is shared can:
Remember, it’s not enough to just ‘ask’ employees to share their knowledge with their colleagues in a non formulaic way. There needs to be systems in place that encourage regular engagement and conversation among your workforce in order to maximize the dispersal of information to the widest range of people.
It’s important to integrate a well-defined knowledge sharing policy – as well as implementing a knowledge sharing tool like Document360 – to stimulate knowledge transfer and make it logistically practical within the business. If information isn’t captured, recorded and managed, then the impact of any knowledge sharing effort will be short lived and mostly inefficient.
As a manager, advocating for a knowledge sharing platform and developing a culture will help you to identify areas where knowledge gaps exist within the company. By using knowledge sharing tools, you can recognize which content is being accessed the most and figure out what the common queries are. In doing this, you’ll soon know of any loopholes and will be in a better position to ‘fill those gaps’ with better training programs.
Fresh talent and the departure of previous generations can often leave companies with a generational gap – frequently evident in the organisation’s knowledge base. The inclusion of a knowledge base tool helps to make sure an easy ‘database’ of knowledge is always readily accessible for both current and new employees, helping to reduce the impact when senior staff leave.
This is essential as business growth and productivity might take a dip if precious information is lost – often seen when employees move to a new job. This can be curbed in a culture that nurtures knowledge sharing. Fostering this environment can significantly help seal any knowledge holes.
The internet has been around for a while now and is seen as the world’s door to knowledge and information. There’s a lot of information out there, but not all of it is dependable.
A knowledge sharing system can help companies make sure consistent and relevant information is being shared. A dedicated place for this knowledge to live allows you to create a dedicated secure ‘home’ for it, accessible only to the users you permit. No more fake news.
This is particularly important when the knowledge captured explains how your company achieves a certain outcome. It’s likely many internal processes are unique to the company and take into account specific variables in play. This means it makes sense to teach employees how the company needs them to understand a particular topic or process. If they learn the generic definition or standard practice, then they will then have to relearn how that information has to be adapted in order for it to deliver value internally. This is inefficient and unnecessary, providing company-specific information is available and easy to access.
Knowledge sharing platforms encourage employees to share their valuable information. This information might only live in their minds, along with their achievements, disappointments, and experiences. Giving them a space to share this wisdom might save other employees from trying to (unsuccessfully) ‘reinvent the wheel’ by committing the same mistakes as their predecessors.
Saving time and cutting down costs is vital for most companies. By saving time in unnecessary mistakes, you can curtail the costs that your company may experience due to imprecise problem-solving efforts.
Increasing revenue is a big priority for most businesses. But this can be difficult when competition is always increasing. By managing your knowledge properly, you allow your employees to access valuable information fast and deliver better end results. Stimulating innovation can directly help you to achieve growth easier. Always keep in mind big picture thinking.
Now you have a clearer idea of the benefits of knowledge sharing, how do you go about optimising it? Well, in a nutshell…
Make your objectives clear to your employees and promote a knowledge sharing culture. The culture of your organization will significantly influence the success of your knowledge sharing efforts as it’ll directly impact how willing your workforce are to contribute and work together.
Once you have your knowledge sharing tool set up, make sure you use it. Don’t merely rely on your employees to share their knowledge, yours is important too. Being proactive with a knowledge sharing tool is critical, just having it, isn’t enough, it’s important staff are regularly reminded and encouraged to use it to contribute and learn.
Encourage your employees to collaborate on information sharing. Using tools like Document360 helps you to provide a secure base for them to do this. Remember, teamwork is the name of the game when it comes to successful knowledge sharing.
Open communication helps to make employees feel valued. Don’t just ‘ask’ them to share their knowledge, show that you’re ready to invest in it by purchasing the correct tools for them to do so.
Having shared technology can boost networking and effective communication. Being a source of encouragement for employees can bring fun and motivation into your workplace.
A knowledge sharing platform offers an excellent opportunity to develop a community within your business. With the right tools and mindset, you can encourage employees to record their useful insights, helping other employees to develop and improve their own performance. As a result, internal productivity should improve, costs should reduce, and less time should be wasted delivering the company proposition.
There’s no doubt about it, integrating knowledge sharing methods into your business should be your new philosophy. Keep in mind that transparency is essential in order to supercharge organizational accomplishments and drive company progress.
Armed with a knowledge sharing platform, you have the opportunity to rapidly drive your organization’s performance and capabilities, so why not embrace the power of knowledge sharing and see the benefits for yourself?