With 22 million Americans now unemployed, companies are trying to grapple with the ripple effects of these massive layoffs.
As they struggle with these issues, it is certainly understandable why companies may be missing one critical element; how to capture all of the valuable intellectual property of their employees as they get laid off, furloughed, or leave.
This dilemma, known as expert departure, is further exacerbated by the fact that companies will have fewer and less experienced employees, yet need to produce as much (or more) than when “fully” staffed before this crisis.
And although SharePoint sites and Google Drive folders sound like an easy answer, these are typically ineffective as they can capture information but not allow it to be easily found again or allow companies to incorporate it into their daily procedures, processes, and rules. They also don’t enable efficient collaboration between employees and subject matter experts (SMEs).
A true Knowledge Management system can capture your valuable IP, lessons learned and know-how, and share it across your organization. This enables your employees to easily find, use and leverage information, collaborate with SMEs, and create communities of excellence/practice (COE/COP) that result in better products, lower costs, and increased market share. Contact us to find out more!