The effective implementation of a knowledge-sharing culture in an organization can reap you great rewards. It will decrease the expenses even if there’s no increase in revenue. However, the reality is that only a few businesses can build successful Knowledge Sharing databases, and most of it depends on the organizational culture.
What is Knowledge Sharing?
The term “Knowledge Sharing” refers to activity through which knowledge, mainly information, expertise, or skills exchanges among people. In organizational knowledge management, this knowledge is exchanged among the organization. Businesses have recognized that knowledge constitutes a valuable and tangible asset creating and sustaining competitive advantages. Knowledge Management (KM) systems generally support knowledge sharing activities. However, technology represents one of the many factors affecting the sharing of knowledge in organizations such as culture, trust, and incentives.
Moreover, Knowledge sharing creates a challenge in the field of Knowledge Management because some employees may turn to resist sharing their knowledge with others. Organizations with an influential knowledge sharing culture learn for their mistakes to move forward with a better strategy. Their organizations also could build upon what worked to help scale success through a logical approach.
“In vain have you acquired knowledge if you have not imparted it to others.”
How Can Knowledge Sharing Become the Key for Organizational Growth?
1. Improves Employee Engagement
When an organization invests in knowledge sharing, it will help you grab opportunities to make teams content and more productive. In the end, employees will work diligently for the company that creates a positive work environment for them.
Companies with High-Engaged Workforce Are 21% More Profitable.
Organizations can benefit immensely from supporting the professional development of their employees. Knowledge sharing encourages engagement because it shows that an employer values what its employees have to offer. Employees who feel appreciated will provide more quality work in return – and will more likely stay. Ultimately, it builds an inclusive culture that intensifies the power of knowledge as a team.
2. Develops Employee Empowerment
Supporting your employees’ growth path will help you retain top talent. By going the extra mile for knowledge sharing will make your employees feel more confident and connected. Employees feel committed to the organizations that believe in them.
Employees are 26% more satisfied with their work when they hold a position of power.
Building professional knowledge skills can benefit employees on a personal level. Besides, when you encourage your employees, they will feel a sense of belonging towards the organization. Giving ample guidance and learning opportunities for your employees will make your brand and team stronger with time.
3. Helps Build Organizational Culture
Knowledge sharing helps in building a positive company culture from scratch in your organization. An open communication cycle is the need of an hour here. Living within teams, individuals, or departments is the first and the foremost step that will eradicate barriers that hold back an organization.
Moreover, it’s equally important to provide your employees with the tools they require. Organizations must invest in technology and training to support employees so they can stay on their hassle-free growth path.
86% of employees at strong cultures feel their senior leadership listens to employees, compared with 70% of employees at non-winning cultures.
To remain ahead of the curve, organizations need to engage in knowledge sharing actively. Investing your time in creating and maintain the culture of sharing requires a constant focus that determines employee engagement and empowerment.
Leveraging the benefits of knowledge sharing economy starts with remembering how employees access information and creating an organizational culture with an ability to thrive.