Top 5 Reasons Knowledge Sharing can Elevate Your Business

Written by
Oren Shmulevich

Knowledge is power, knowledge is a weapon, and knowledge is a treasure. You’ve heard them all. But big digital companies like Google and Amazon are taking it a step further through knowledge sharing.

The digital era is continuously demanding a complete re-engineering of organizational structure. Now, even the most analog departments are striving to develop and implement the most sophisticated and technology-oriented skills.

And all this is happening through the foundation of sharing different types of knowledge. To this effect, HR Henry and finance Dorothy can have an in-class knowledge sharing experience to boost brand competitiveness.

 

But let’s be real! It is not uncommon to find HR Henry dozing off while finance Dorothy tries to explain the importance of reducing business costs. Henry is not alone. More people are becoming increasingly drawn towards bite-sized knowledge sharing.

New trends are emerging, and old ones are declining every day. Keeping up with the fast-paced world is becoming a hustle. This is why video is becoming a vital part of employee learning in many organizations.

Did you know that the human brain can process videos sixty thousand times faster than it can process text? No wonder 98% of businesses plan to include video-based learning as part of their training strategy this year.

And think about it, it becomes far much more natural for HR Henry to be his lively, engaging, and authentic self when he is creating a knowledge-based video in his bedroom than when he is standing in front of ten unsmiling senior managers and reading his written training notes hoping to get through the day.

Now that HR Henry has videos to facilitate learning let’s find out how sharing knowledge can boost his firm.

 

people smiling computer

 

1. It helps get the most out of a majority Millennial workforce

Let’s start with the Millennials. They make up the more significant portion of our current job seekers and employees. Millennials are not Gen Y. They are different because they grew up with the internet. As a result, millennials are fostering a culture of knowledge.

They like to share everything, and they want to receive information. Millennials like it when they know what is going on around them. This ongoing knowledge sharing behavior of millennials is also expected in organizations.

Millennials prefer office cultures that capture knowledge and express it to them in an open environment. They thrive in environments that offer continuous performance feedback. All this becomes possible through knowledge sharing.

People say that a happy wife breeds a happy marriage. I think it’s safe to denote that happy employees produce a holistic and collaborative company.

 

pointing at whiteboard

 

2. It helps cultivate a culture of bottom-up management

It’s the managers that determine 70% of employee engagement. So what happens when managers start to share information with their millennial employees? They foster a bottom-up management style.

In this type of leadership style, the employees contribute significantly to the projects, goals, and tasks of the business. Such leadership styles also banish silos in organizations. When managers become more open, they motivate the employees to be more engaged with the company.

The employees also feel empowered to give their best to the business. The more the employees become more aligned with the business, the more encouraged they are to stick with a company. This enhances employee retention, productivity, and overall business success.

employees talking

 

3. It facilitates employer branding

What happens when employees are happy with their company? They talk about it regularly, and not just among themselves.

Today, the reputation of a company is very significant to its success. Organization-wide knowledge sharing contributes to improving the status of an organization.

In essence, creating and sustaining a competitive differentiation in a company is dependent on knowledge. The availability and quality of knowledge aids managers in facing the challenges and pressures of the business.

Moreover, when managers share knowledge, they share their insights, intuition, experience, and judgment with employees. This improves the perception of the employee regarding their employer.

In turn, the employee builds up the reputation of the company. Therefore, it becomes easy for the company to retain as well as attract the 86 percent of top talented workers that will only work for companies that have an excellent reputation with former employees.

 

4. It enhances customer satisfaction

When your employees are happy, your customers are delighted, especially concerning their customer experience. One significant advantage of knowledge sharing is that it breaks down centralized knowledge.

It also facilitates faster knowledge sharing. As a result, more people in the organization will attain knowledge about the products, services, and goals of the business real time. Digital collaborative platforms are also making it easy for companies to enter into this new era of knowledge.

The platforms then reduce tacit knowledge and encourage explicit knowledge in organizations. Knowledgeable employees make fewer errors. Also, the availability of information gives employees the confidence to serve customers.

Overall, this improves the customer satisfaction level of a business.

learning

5. It transforms your company into a learning organization

A learning organization is one that finds creative and better methods of learning and improving its performance. There are many benefits of building a learning organization: maintaining competitiveness and enabling innovations in the industry.

As mentioned earlier, the digital era is bringing fast and significant changes to the market. Therefore businesses need to keep up with the changes if they want a chance to remain relevant. This is where knowledge sharing comes in.

Once a company imbues a sharing knowledge culture, it fosters a shared vision, team learning, system thinking, and personal mastery. These are the fundamentals of a learning organization.

This continuous process of sharing knowledge with the environment and people ensures that a business maintains its space in the world market after many consecutive years.

This is where intuitive and easy-to-use video solutions, like  Cincopa Video Course thrive. Made with employees and customers in mind, the video hosting platform provides a ready knowledge sharing center.

Now, modern companies can use webcam recording to make new videos or collect existing videos and create a unique destination on the Cincopa Video Course. New videos can also be created using RecTrace and uploaded to the platform.

Once there, customers can engage with the business, and the employees can engage with their colleagues and the industry as well by building and learning new skills.

The Cincopa Video Course’s fresh and fun environment even provides administrative settings that will customize specific knowledge to specific employees.

The video platform provides templates and customizable settings for your video uploads. Besides, uploading the video only takes a few seconds.

Once up, you can get all the data concerning your video through the analytics feature. Improving your business training is made easy with the Cincopa Video Course.

 

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Top 5 Reasons Knowledge Sharing can Elevate Your Business

by Oren Shmulevich time to read: 5 min
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