Tell me if this story rings a bell:
➡️ Only Lisa knows how to onboard new hires.
➡️ Olivia has the customer service protocols down pat, but she's retiring in a month.
➡️ Only Dave knows where the bodies are buried. And, boy, does he like to hold it over your head.
Every company knows it needs to document its processes. And yet, anyone who's ever worked, well, anywhere is familiar with this scenario.
According to IDC, Fortune 500 companies lose at least $31.5 billion a year by failing to share knowledge. So, it's no surprise that most companies struggle to get information out of their employees' heads and onto the page.
Time constraints are one of the biggest knowledge management hurdles. If Lisa's busy onboarding new hires, she's not going to have time to train a new hire to train a new hire.
Budget constraints and simply not having knowledge-sharing processes in place also create a challenge.
It's a vicious cycle, but here are five ways companies can improve their knowledge management practices:
⚡Emphasize knowledge-sharing: Companies see a marked improvement in efficiency and morale when employees know whom to ask and are encouraged to do so.
⚡Invest in knowledge management software: A growing number of software solutions out there use generative AI to take rough ideas and turn them into nicely outlined processes.
⚡Build a library: Creating an internal repository to house documented processes is a tried and true knowledge management practice. Just remember to keep it up to date.
⚡Hire third-party services: Sometimes knowledge management can feel like a job on top of a job. Working with third parties (cough cough) to develop your internal document can take the pressure off top-performing workers and let them get back to what they're already good at.
⚡Blackmail Dave: We're tired of your secrets, Dave!
#knowledgemanagement #instructionaldocumentation #dave #HFInnovations
Researcher
1moInteresting!