According to McKinsey, employees only spend approximately 40% of their time on role-specific tasks. What about the other 60%? Employees spend this time on tasks, that, while are essential to their day-to-day, they are not adding value to your organization.
So, what are your employees spending their time doing and how you can improve productivity internally? This is the importance of knowledge management in an organization.
Reading And Answering Emails — 28% Of Time
Yes, communication is critical to the success of your organization, but long email chains, repeated conversations, and constant back and forth slows your team down. Of course, it’s next to impossible to eliminate email altogether — communication with clients, partners, and others outside your team is inevitable and essential — streamlining internal communication will drive productivity.
An effective collaboration software solution will take your team from relying on email to removing information silos and allowing easy conversation across departments. Look for software that is more than a knowledge management solution, providing your team with the opportunity to communicate around specific information, find the answers they need without asking, and avoid answering inquiries multiple times.
Searching And Gathering Information — 19% Of Time
Employees spend almost 20% of their time searching for internal information or finding a colleague who can assist with a task — that’s a full work day each week! One of the key challenges of knowledge management is implementing a strategy that not only stores company information but is also intuitive enough for employees to find that information efficiently. If it isn’t easily searchable, it can’t improve productivity.
Find a solution that goes beyond traditional knowledge management and creates a digital information hub of all company data. Provide your employees with a searchable record of data and company information that can be accessed by exactly who needs it when they need it. McKinsey has found that the right solution will increase value-added time by 5.5 – 6.5% and improve productivity by 30 – 35%.
Communicating And Collaborating Internally — 14% Of Time
While having company information accessible is key to improving efficiencies and productivity, your team will perform best when they communicate and work together on how to use that information. Without a collaboration solution in place, employees spent up to 14% of their time asking redundant questions and taking up the time of their team members to improve their performance and complete tasks – which could be done more efficiently with the a process and system in place.
The importance of knowledge management in an organization is the ability to give your team a collaborative digital space, productivity can improve by 10-15%. Sales teams can comment on which content pieces close deals. Marketing teams can communicate their vision for usage of a marketing piece. Customer Support departments can find answers to frequently asked questions and provide unique solutions. Human Resources can ensure all documentation is readily available for the entire company.
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.Download Now