The Potential Value of Organizational Knowledge

Knowledge development – specifically organizational knowledge development – is what drives efficiency in the day to day productivity of a workforce. This knowledge comes in all shapes and forms. There is knowledge that is documented. And then there is knowledge that is implicit. Understood among people who have worked well together. Knowledge that is situational or based on experience. These are of great value to any organization but maybe not documented as a knowledge article per se.

In today’s world of hyperconnected teams and distributed workforce, knowledge flows dynamically across various platforms. The Global Human Capital Trends survey by Deloitte Insights reports that 52% of their respondents said workforce movement is driving them to proactively develop their knowledge management strategies. The same survey indicates, however, that only 36% link knowledge with action to drive value.

Knowledge management is well acknowledged and advocated for in most larger organizations. I believe it is even more important for small businesses to be vigilant about harnessing the power of knowledge in their teams. This can be a competitive advantage a small business can truly capitalize on.

Moreover, it applies to professions across the board. The web developer who figured out how to use a particular web service to their advantage. The manager who wants a new employee to learn the jargon that is specific to that team only. The mechanic who figured out why a particular method was more useful than others. The sales person who notes the nuances of their biggest client so the team knows how to approach. And so much more.

A lot of times, however, employees do not share their knowledge. A Harvard Business Review article explored the reasons why. It concluded that managers can encourage sharing knowledge by designing work so that people want to share and discuss what they know.

In my opinion, such an environment is easily attainable by fostering a positive employee engagement culture. A truly effective knowledge development setting will encourage people to share. To learn from each other. Furthermore it will make every person involved aware that by doing so they are only positioning themselves for better opportunities.

Formal courses and learning is one approach to knowledge development and up-skilling the workforce. Making organizational knowledge easily accessible is another approach. This vast ocean of knowledge exists primarily in the workforce and comes from their experience. So it becomes important to figure out a sustainable process to organize and distribute this knowledge. It needs to be easy to keep up to date. It has to be simple to find and access. Moreover it has to be easy to create.

This is what we have in mind for the knowledge development platform we created –

Leveraging such a tool can help increase efficiency to unforeseen levels. This serves to increase profitability as well. After all an efficient workforce is also a profitable one!

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