What is a Knowledge Management Strategy? Is it Enough?

Dana Youngren Written by Dana Youngren

Keeping teams aligned is imperative in our ever-changing business world. We’re all in an inherently fast-paced, exciting, and competitive market, no matter what the industry. It’s about being one step ahead of your competition and keeping your entire team on track to keep moving forward. But how do you do it? What are the secrets that companies on the fast-track to success are relying on? These organizations likely have a carefully crafted knowledge management strategy to help them thrive and grow, with short-term and long-term gains.

What Is A Knowledge Management Strategy?

When you look at where your organizational struggles are coming from, consider this: are departmental silo fragmenting your work environment? Moving quickly can mean growing where you need it, when you need it, resulting in a fragmented workplace. With separate departments focused solely on their given roles — be it sales, marketing, customer support, IT, or any other number of responsibilities — communication and knowledge sharing can feel impossible.

A knowledge management strategy is a plan of action that outlines how your organization will manage company information, data, and knowledge to improve your productivity and efficiencies. The most successful of these strategies are closely aligned with individual department and company-wide objectives.

Common Practices Of Information And Knowledge Management Strategies

When setting out to form a comprehensive knowledge management strategy, every organization is unique. There are, however, common practices that span organizations and industries, including:

  • Increasing awareness and understanding of knowledge management in your company
  • Identifying potential benefits to build a use case for your organization
  • Attracting resources for implementation
  • Communicating best practices
  • Providing a communicable plan about where your organization is now, where you want to be, how knowledge management will get you there, and how you will measure that

But Is Knowledge Management Enough?

Having a strategy in place to share company knowledge is a great place to start, but is a knowledge management strategy enough? It depends on what you include.

If your knowledge management solution is focused solely on sharing information, then no, it isn’t enough. A knowledge management strategy is most successful when it also includes communication tools to break down silos. Information is only one piece of the equation: you also need to capture and share the institutional know-how that surrounds information and content.

A Gallup poll found that 70% of employees in the U.S. are not engaged at work. This can be easily remedied with proper internal communication practices and tools. Many organizations rely on their company intranet to share knowledge, but only 13% of employees use their company intranet daily, with 31% never using it.

So if you are using tools that have low engagement and that are not making tasks easier, reconsider how your knowledge management solution impacts your organization’s day-to-day. It may be time to dig deeper and find a tool that is more than the management of company data. Give your employees an easy-to-use platform to not only share their knowledge but also communicate around that information.

Harness The Power Of Knowledge Sharing With Digital Transformation

Companies that grasp what the digital workplace is really all about are willing to change the ways people and applications connect across their organizations. By fostering a digitally driven culture of collaboration, they break down silos, share knowledge more effectively, and compete more successfully.

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