A New Knowledge Sharing Platform: 4 Essential Features You Should Look For
According to a report by Interact, around 20% of corporate time, which is comparable to a day in a working week, is lost by workers seeking relevant knowledge to perform their task effectively. Moreover, a McKinsey research revealed that on average, workers expend around 2 hours daily (10 hours every working week) looking for, and collecting information.
In other words, companies employ 5 workers but only 4 appear to work; while the fifth is busy seeking information without adding any significant value. Hence, there exists a dire need to automate the information management process in a company in order to enhance corporate efficiency and output of employees.
A Way Out: Knowledge Sharing Platform
Developing a proper knowledge sharing strategy has become a vital necessity for the modern workplace, as more and more Millennials are joining the workforce and Baby Boomers are approaching retirement. These individuals are joining and leaving companies so often that official memory is becoming ephemeral.
In case of large-scale companies, there exists a high possibility of employees tackling the same issue without knowing that their colleagues are also doing the same. Hence, utilizing a corporate knowledge management tool to streamline the knowledge sharing process and breaking down company silos is the need of the hour.
Choosing The 'Right' Knowledge Sharing Tool
There is a wide range of corporate knowledge management tools available commercially and each one claims to be better than the rest. How do you know which one to choose? Here are 4 must-have features that you should look for when purchasing a knowledge sharing platform for your company:
1. Accessibility
This is one of the most important features to look for when investing in a corporate knowledge sharing tool. Employees today are no longer enclosed within their cubicles. They are always mobile and demand flexibility. Hence, choose such a tool that can be accessed from any device, whether it’s a smartphone, tablet, laptop, or a workstation. This will greatly facilitate the employees in performing their tasks successfully, regardless of where they are. Moreover, companies can easily share valuable content, for instance, work aids, practical procedures, or tutorials from any part of the world.
2. Interactivity
Gone are the days when knowledge sharing was a one-way process. Now, companies require employees to share their valuable knowledge and experiences as well. To encourage workers to share what they have within their heads, many software come up with chat and Q&A features. Some advanced tools also provide a 'comments' feature where, just as on social media, employees can comment on the shared content. Moreover, they can now contribute ideas, give feedback, and post queries easily. Consequently, they engage in healthy discussions which help in breaking down barriers between senior and junior employees, and promote a learning culture for everyone.
3. Smart File Indexing
According to IDC survey, an average employee expends about 2.5 hours daily, or approximately 30% of the working day in the pursuit of relevant information. Around 60% of business managers who took part in the survey considered time restraints and insufficient knowledge of how to locate relevant information as the main hindrances that prevent workers from finding the knowledge they want. Hence, a knowledge sharing tool must be equipped with smart search option, and this is only possible if the files are indexed and categorized properly.
Some of these corporate knowledge sharing platforms allow users to arrange their shared content through proper labeling and classifying them into various groups for stress-free retrieval later on. Their smart search option guarantees that every employee in the workplace has access to all the pertinent information whenever they want. Moreover, information sharing and knowledge retention process can be made more effective with the help of an all-inclusive checklist which provides workers with important takeaways and significant learning.
4. Reports And Analytics
This feature allows team admins to keep a track of how much information is being shared, which user is contributing the most, and which content is the most popular. All this information can help a company identify its knowledge gaps and devise strategies to mitigate those gaps. Through regular reports and analytics, companies acquire complete understanding of how their knowledge management tools work, and what content is already present in their knowledge base. Hence, this feature greatly reduces admin overheads and helps businesses remain on top of their information management game by recognizing and concentrating on their weak points.
Final Thoughts
Selecting an operative knowledge sharing tool for your company is not an easy feat. There are innumerable information management tools available commercially, each with their own features. Nonetheless, the above mentioned 4 vital features are an absolute must-have in an effective information and Learning Management Platform.
