Knowledge Sharing: Spread Knowledge to Reduce Risk

For most businesses the most important resource is their employees. Without the employees productions stops, things break and the company goes bust. This is where knowledge management becomes important.

Employee Of The Year

Employee Of The Year

Combine this with the all too common issue that certain key employees have unique knowledge, making them irreplaceable for the company. Ask yourself, does your company have an employee (maybe it is you?) who has mission critical knowledge that would severely harm the business if that employee would suddenly leave the organization.

“But Patrik, the employees at my company are loyal and would never leave” I hear you say. What happens if that key employee suddenly gets hit by a car and becomes hospitalized for a long period of time? Could your business survive such events without major repercussions for the bottom line?

Employee empowerment is, generally speaking, great for employee motivation and should therefore be cherished and encouraged but there has to be a plan in case the key employee suddenly leaves the company. This is one aspect of Knowledge Management.
There are significant organizational disadvantages when  specific employees has a monopoly on knowledge.  However, an employee may feel that they are losing their empowered status by sharing their knowledge.  This is an unfortunate attitude as an organization is little more than a collection of people and knowledge sharing is an important characteristic of an innovative company.

Knowledge is something that should be shared within an organization. Sharing knowledge increases innovation and can reduce costs. It increases innovation by increasing the knowledge of the employees, and thus enabling them to push the boundary of the combined knowledge.

Knowledge sharing also reduces costs by decreasing the time spent on implementing new solutions to problems already solved. If your organization has a good solution for a problem, then don’t bother reinventing the same solution. It is a wasted effort to have different employees spend time figuring out the same (or very similar) solutions to the same problem within different parts of an organization. Stroking the ego of an employee, while beneficial sometimes, is terribly inefficient use of time.

Knowledge sharing is hard, there is no question about it, especially in highly individualized companies. A focus on personal achievements, for example selling the most to get a bonus or a salary based entirely on sales, makes the employees reluctant to share knowledge. Of course the employees are reluctant to share their competitive advantage if they do not feel that they gain anything from the exchange, or even the opposite, they might lose out by sharing knowledge if their relative performance drops.

Reducing risk is an important concern for all businesses and employees leaving the organization is a fact of life.  If mission critical knowledge only kept within the head of one employee, then that is an organizational risk that should be mitigated. Knowledge sharing enables risk reduction for companies, especially those that depends heavily on knowledge workers.

Increasing knowledge sharing in organizations is a story for another time but a great place to start is to figure out if your company is at risk due to not sharing mission critical knowledge between employees.

[ShamelessSelfPromotion] Got any tips for jobs in the Stockholm Region, throw me an email at Patrik[at]pathy.se or on Linkedin.  [/ShamelessSelfPromotion]

-P

Did you find this post interesting, illuminating, controversial or dumb? Leave a comment below or send me a tweet (@Chronoo). You can also subscribe to receive updates about new blog post in the sidebar on the right!

Organizational Culture is More Than Ping-pong Tables

Organizational or Corporate culture is a much debated question. It is important but hard to define. I, as part of my education, recently conducted a Knowledge Management Scan at a Dutch bank and our results stressed the organizational cultures influence on knowledge sharing. Yesterday Firstround.com published an interview with Dave Goldberg of SurveyMonkey. The interview was interesting but one specific quote really caught my attention:

Corporate culture isn’t your company’s ping-pong table. It’s not your catered lunch. It’s not the posters you tape onto the office walls. A real culture is the cumulative effect of productive relationships among employees. Those relationships can take years to develop. And they don’t always work out. – Dave Goldberg

Organizational culture is hard, it is not the superficial ping-pong tables or catered lunches, it is more than that. Organizational culture needs to be nurtured and taken care of, it can grow by itself but that is risky. Which is also why new recruits needs to fit with the current corporate culture, otherwise they might dilute or negatively affect the culture within the organization. Look beyond the lunches and focus on relationships, it is a long-term project to manage culture within a company.

Some of the worst mistakes that I’ve made in hiring come from hiring someone who looks like they’ve had great experience, but they just didn’t fit with our culture. – Dave Goldberg

 

 

The Return to VU Amsterdam and The Green Tower

Last week I spent a small fortune on accommodation (Hello Duwo!) and tuition for VU Amsterdam but I am finally ready to return to Amsterdam for my masters studies at VU Amsterdam.

As some of you may remember I spent the last half of 2011 in Amsterdam on Erasmus Exchange and I was very satisfied with my stay so I decided to return. The reasonable tuition at some €1770 per year did play a part but more on that another time.

A year from now I will have, assuming all goes to plan, my MSc in Business Administration specializing in Information and Knowledge Management. You can learn more about the programme at VU’s website.

I am getting excited about returning and I have high expectations for the studies. I don’t really know what the hell I will learn but I am sure it will turn out just fine. 😉 The studies in at VU Amsterdam aren’t child’s play but if I actually study properly it shouldn’t be too much of a problem but who knows…

The Green Tower will be my accommodation once again but this time on the tenth floor (210) and facing the other side. I felt afternoon sun and a better view would be better. I have no idea how my room and dorm will turn out but meh, it is only a year.

That is all for tonight. Time to go to bed and prepare for another day of working tomorrow.

P.S. Taking suggestions for Mac OS X productivity apps and/or general apps. I haven’t used a mac for many years but recently bought a Macbook Air.