Knowledge is the key to running a business well. However, if it is not managed and implemented successfully within an organization, productivity may suffer. So knowledge management is a well-defined process that identifies, organizes, stores, evaluates, retrieves, and disseminates knowledge within a company. Every business today is spending millions on Knowledge Management Systems (KMS). It is a centralized repository that stores collective knowledge within a company, resulting in better performance of the employees.
This article will tell how best a manager can help devise a successful knowledge management strategy.
Successful implementation of knowledge management by a manager
One needs to first identify the problems that need resolution within a company. And then, provide a business justification as to how implementing a certain knowledge management system would help resolve the issue.
A knowledge management system triggers cultural changes in the organization since the process of knowledge sharing undergoes a complete overhaul. Some employees may be resistant to these developments as a knowledge management system promotes changes in the company's standard practices and norms. So to encourage more proactive knowledge sharing among employees, managers can resort to rewarding knowledge sharing behavior across teams. This may not only help in fostering a relationship of trust among the employees but also lead to increased productivity.
It must be kept in mind that even if the knowledge management tool has an AI-powered search, it is imperative to have a knowledge hierarchy. This helps new users look for information more easily on the platform and also helps preserve the information in the longer run. So as a manager, one can have open discussions with the team members, other leaders, and the knowledge management solutions provider. Which can help them arrive at a knowledge structure that is best suited for the needs of the organization.
The establishment of forums by centers of excellence comprising senior management in various disciplines allows employees to raise issues and ask questions on the platform. This very often leads to a faster transfer of knowledge across the company. Through these platforms, companies facilitate the growth of a higher number of subject experts who can guide other employees through their expertise, reducing individual dependence on task accomplishments.
Finally, when it is time to measure the effectiveness of the strategy, a manager can use metrics like a balanced scorecard in the areas of quality, compliance, and value. This is an excellent way of understanding how the strategy is faring and what needs to be improved.
Managers play a key role in setting the goals and objectives of a project and strategizing methodologies for its successful execution. Proper knowledge management, therefore, arms them with the weapon to eliminate unwanted hiccups in knowledge transfer, leading to more streamlined processes, faster decision-making, higher employee satisfaction, and lower attrition.