Whether employees share their own knowledge, best practices, or teach each other skills, and whether they share during workshops, lunch, or presentations, there are many reasons why sharing knowledge is important. With the proper tools and management, employees can effectively apply knowledge sharing and leverage each other’s expertise.
The 6 benefits of knowledge sharing at work
Sharing knowledge has advantages for employees’ professional development because it allows them to perform better and can give them a sense of satisfaction and belonging. But there are also benefits of sharing knowledge at work. For one, it won’t be necessary to invest in training from external parties or off-the-shelf courses as much anymore. Read this article if you want to know about the other benefits.
1. You can let employees apply each other’s best practices
It’s not necessary to re-invent the wheel. In fact, knowledge sharing is the opposite of re-inventing the wheel. If it seems like a particular way of working or solving problems is the best way, employees should stick to it.
By sharing the knowledge they have gained with that experience, other employees can apply the best practice as well. Integrating best practices and allowing employees to use shared knowledge saves a lot of time and budget.
2. Employees can make better decisions, faster
When employees in an organization don’t share knowledge actively or effectively, they can spend a long time looking for answers to their questions. They may ask around, try Google, go through emails and Slack, and so on.
When they do actively and effectively share knowledge, they can look it up quickly, absorb it, and apply it to their work. This allows them to perform more efficiently and make decisions better and faster.
3. Keep knowledge and expertise in the organization
There are more advantages of sharing knowledge within an organization. Employees’ knowledge is your organization’s greatest asset: you don’t want it to disappear when employees make a career switch and decide to work somewhere else.
And if they share their knowledge, it won’t. Others will keep on having access to that colleague’s knowledge in videos, white papers, intranet articles, and more. Knowledge sharing ensures that employees’ knowledge stays within the organization, even when they don’t.
4. It can save you a lot of money
By leveraging employees’ knowledge and having them capture what they know and share it with colleagues, chances are you don’t need to invest as much in third-party or off-the-shelf training anymore. Bringing your content creation in-house helps save money.