For More Success, Improvement, Good Performance, ... we need "knowledge sharing" Why ¶
Here are just a few reasons it’s considered vital for a successful organization:
1. Build collective knowledge
The collective knowledge of a company can be enormous, however it has limited value unless the knowledge is shared. It’s always encouraging when an individual cracks a problem or improves a process. However, if that same problem is plaguing an entire team and the knowledge isn’t shared, the success is limited.
In his academic paper on the importance of knowledge sharing, Faizuniah Pangil wrote:
“Organizations are like seas of knowledge. There is no limit to the amount of knowledge that an organization has. However, where the issue of knowledge sharing is concerned, it is most important that employees share their job-related knowledge with each other, so that they will be able to perform their job better and eventually lead to higher organizational performance."
2. Retain knowledge
Today’s workforce is increasingly transient, often moving from one job to the next every few years. If these employees don’t effectively knowledge share at work, their explicit and tacit knowledge will leave the company when they do.
Add to this the large number of baby boomers who are currently reaching retirement age. These individuals are often long-standing employees and executives, with a wealth of irreplaceable knowledge. If this resides only within their own minds, an organization’s collective knowledge will be crippled by their departure.
3. Increase innovation
As indicated in David Gurteen’s “know-why” principle, the more knowledgeable individuals are, the more they’ll be able to innovate. The value of this cannot be overlooked in today’s fast-paced business world. A knowledgeable, innovative, and nimble team will quickly separate themselves from the pack.
“We cannot solve the problem with the same thinking we used when we created them.” - Albert Einstein
4. Stay abreast of changes
As humankind makes new developments and discoveries, old processes and approaches often become redundant. New techniques replace old ones and knowledge that was once pertinent becomes irrelevant. In this way, a lot of knowledge has a shelf-life. To stay in the game, organizations and individuals need to make the most of the knowledge they have—sharing and absorbing it readily.
5. Help employees feel valued
Creating an environment where knowledge sharing is encouraged helps individuals feel valued and heard. When a person is able to give back and contribute to collective knowledge, they can see how their work is truly making a difference. By giving people a stake in the company in this way, not only do you increase their investment in the collective knowledge and improve employee engagement, you make them feel more appreciated as an individual.
The importance of knowledge sharing shouldn’t go unnoticed. It’s essential for organizations that want to stay competitive in the market and individuals who want to expand their skillset. Encourage a culture of knowledge sharing and reap the rewards it delivers!