Updated On: April 19, 2024
30 mins read
Knowledge management (KM) is the process of creating, managing, sharing, and accessing organizational knowledge. It’s about capturing collective wisdom and making it accessible to everyone who needs it in an organization.
Many challenges within an organization can be addressed through effective knowledge management. Here’s how KM systems can be used to tackle common issues:
New hires can get overwhelmed by the information they need to learn. A KM system provides a central location for onboarding materials, company policies, and FAQs, helping new employees quickly get up to speed.
Organizations often lose valuable knowledge when an employee leaves the company. KM systems capture and share tacit knowledge (knowledge that is difficult to express in words) by providing platforms for employees to share best practices, case studies, and lessons learned.
A KM system empowers both customer and customer service agents with readily available information.
Agents can access a central repository of knowledge base articles, troubleshooting guides, and FAQs to resolve customer issues efficiently. Self-service portals can also be created using KM systems, allowing customers to find answers to their questions on their own.
A centralized knowledge base can be used to store and share compliance policies, regulations, and best practices, mitigating risks and ensuring adherence to regulations.
Knowledge can be captured in many ways in an organization and can broadly categorized into internal and external knowledge management.
Internal knowledge management includes:An internal base is designed to help users find information quickly without seeking help from others.
It’s like Wikipedia for companies, where multiple users can contribute and modify content, often without requiring extensive technical expertise.
Think of it as a custom-built internet accessible only to authorized users, like employees (and potentially some partners) within the company.
That’s the thing with knowledge, you can’t possibly contain it under a single category. However, the knowledge found in organizations can be broadly categorized into:
Information that can be easily articulated, documented, and shared among people.
Explicit knowledge is often organized logically and systematically, making it easy to understand and retrieve. Examples of explicit knowledge include standard operating procedures (SOPs) and user guides.
This refers to knowledge that is not explicitly stated or documented but can be inferred from context, actions, or behaviors.
Implicit knowledge includes unwritten rules of conduct the understanding of how processes work ‘in practice’ (as opposed to what’s written in manuals).
It’s the “in-between” knowledge that sits between explicit knowledge (written procedures) and tacit knowledge (deeply personal expertise).
This is the knowledge that employees possess based on their experiences, skills, and insights. It is highly personal and difficult to formalize or document.
In an organizational setting, tacit knowledge is often shared through social interactions, mentoring, and hands-on training. This knowledge is invaluable for the organization but challenging to capture and transfer.
It is the “how-to” – the information that describes how to perform specific tasks, procedures, and operations. It’s the know-how gained through experience and training that guides employees in carrying out their daily activities.
It is the factual information employees possess, like company policies or product details. It focuses on the ‘what’ as compared to the ‘how’ or ‘why’.
Knowledge management process differs for different organizations, but there are some common stages that every organization passes through. Here’s a breakdown of the key stages:
The first step of knowledge management is identifying the right knowledge within your organization.
This includes technical expertise, customer insights, best practices, or industry trends. Once the knowledge is identified, capture it in a way that can be easily stored and accessed.
Some of the methods to achieve this are:
Once knowledge is captured, the next step is to organize it into categories and subcategories in your KMS to make it easy to find, understand, and use.
It involves categorizing, tagging, classifying, and indexing knowledge resources for easy retrieval.
Now that the knowledge is organized, it’s time to share it.
Knowledge sharing involves both explicit knowledge, which is documented information like procedures and manuals, and tacit knowledge, which is the personal know-how and experience that people gain through their work.
There are several ways to achieve this, such as training programs, internal communication channels, and online collaboration tools.
In the knowledge application stage, the focus shifts from simply storing knowledge to making it readily usable.
The ultimate goal of knowledge sharing is to get employees to apply the knowledge they’ve gained to improve their work.
After you have deployed KM across different business lines, set up periodic plans to evaluate the benefits and adoption of knowledge resources.
Evaluating knowledge isn’t a one-time event; it’s an ongoing process that ensures your knowledge management system remains valuable and effective. Here, the focus is on monitoring and improving the system based on real-world use.
Knowledge management organizes relevant knowledge in an easy-to-access way, ensuring that decision-makers have access to the right information when needed. With readily available information, employees can make well-informed decisions without wasting time searching from scattered data.
A knowledge management system breaks down information silos in an organization. It acts as a central hub where teams can share best practices, insights, and lessons learned. This cross-pollination of knowledge allows employees from different departments to see the bigger picture, consider diverse perspectives, and work together more effectively.
A sea of knowledge exposes employees to a wide range of approaches and ignites their creative spark. The shared knowledge base allows them to build upon existing ideas and explore new solutions.
When the employees have the right knowledge and best practices, it is easier for them to react swiftly to change. Centralized knowledge allows for faster decision-making and adaptation of processes. A culture of continuous learning with accessible training and knowledge sharing ensures a workforce ready to tackle new challenges.
While knowledge management systems unlock a treasure trove of benefits for organizations, there are a few roadblocks, too.
Make knowledge sharing a core company value by acknowledging and rewarding knowledge contributions. Create spaces like “communities of practice” where colleagues from different groups can come into one place to connect, share tips, and learn from each other.
Utilize knowledge management software with features like search engines, wikis, and knowledge bases. AI further enhances searchability and automates various routine tasks.
Ensure the information stored in your KM system is high-quality, accurate, and up-to-date. Regular reviews, content validation processes, and version control are absolutely essential when it comes to maintaining knowledge.
Information is only worthwhile if the users understand it. Present organizational knowledge in digestible formats like FAQs, picture guides, and decision trees. This caters to different learning styles and makes knowledge even more accessible.
Track user engagement metrics to analyze how users interact with the system. Identify knowledge gaps and areas for improvement based on this data.
Regularly review and update your content strategy and user experience to address these needs. By adapting and evolving, your knowledge management system will remain relevant.
Effective knowledge management becomes a critical weapon for organizational success as the world continues to generate more information every second. Here are some key trends to watch in 2024:
As AI takes a bigger role in KM, trust and security are paramount. Today, organizations need clear guidelines for data privacy, bias detection in AI algorithms, and responsible automation in KM processes.
Just like any other software, KM platforms need to prioritize user experience
Conversational knowledge management is a growing trend that leverages the power of AI to transform how users interact with an organization’s knowledge base. It makes way for a more dynamic and user-centric experience.
Remember, knowledge management isn’t a destination, it’s a continuous journey. With the right strategies and tools in place, you can ensure your organization has the knowledge it needs to navigate challenges, seize opportunities, and stay ahead of the curve.
So, what are you waiting for? Start making your knowledge work for you today!
