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01-Sep-2015 21:09

It's essential to avoid important knowledge or skills being held by only a few people, because if they leave or retire that expertise could be lost to your business.

If you have efficient ways of sharing knowledge across the business, it will be more widely used and its value and effectiveness are likely to be maximised.

All businesses have access to an extensive pool of knowledge - whether this is their understanding of customers' needs and the business environment or the skills and experience of staff.

The way a business gathers, shares and exploits this knowledge can be central to its ability to develop successfully.

Incentives and training Remember that offering staff incentives to come up with suggestions for how the business can be improved is often an effective way of getting them to use and share knowledge.

Don't forget the importance of training in spreading key knowledge, skills and best practice across your business.

You could consider holding innovation workshops or brainstorming sessions at which staff are given the freedom and encouragement to think of ways in which the business could improve.

Your files - whether stored digitally or on paper - contain knowledge that you can use to make your products, services, systems and processes better and more customer-focused. Your employment policies play a central role in this.

This doesn't just apply to huge multinational companies.



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