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Deloitte Insights: Overcoming Pitfalls in Knowledge Management with Performance Enablement Solutions

New technologies and ways of working demand a change in approaches to knowledge management. A recent research report by Deloitte indicates the need for companies to rethink their knowledge creation and sharing strategies to successfully navigate the ever-changing business landscape. Although organizations increasingly realize the benefits of effective knowledge management strategies, many struggle with implementing them due to technological or human factors. The report delivers insightful findings on the state of knowledge creation and sharing in contemporary business environments. 

Implementing Knowledge Management Practices in the Digital Era

Recent technological advances mark the era of digital transformation. Combined with the COVID-19 pandemic sweeping the world, this period forced many organizations into embracing distributed workforce models. We can view this as a positive shift, seeing how a company that values its employees’ health and safety is more likely to succeed in talent retention and acquisition of high-skilled employees. However, Deloitte has found that many businesses face challenges to their knowledge management strategies as a result of the increase in workforce fluidity:

“In this year’s Global Human Capital Trends survey, 52 percent of our respondents said that workforce movement is driving them to proactively develop their knowledge management strategies. And 35 percent said that the frequent shifting of which people are in what roles at what time is a barrier to effective knowledge management.”

Apart from workforce movement, other human factors were found to have a negative impact on effective knowledge management, such as organizational silos, lack of incentives, or compliance headwinds. 

Managing knowledge across thousands of employees of different races, genders, ages, and cultural backgrounds can be daunting. Unfortunately, there is no way for the company to understand the human factors at play unless it turns to developing a deeper understanding of its employees. Employee experience is an integral component for promoting talent retention, fostering innovation, and creating a healthy company culture. And this can be achieved by redefining workforce segmentation. Focusing on employee skills, knowledge, and experience helps build a much more adaptable, mobile, and talented workforce. 

Data-Driven Learning Can Boost Knowledge Creation

Once the organization has gained a deeper understanding of its workforce, it can implement much more efficient initiatives for knowledge creation and sharing. With that in mind, forward-thinking companies are already leveraging people analytics to implement data-driven learning practices that align employee performance goals with organizational KPIs. 

Knowledge management is not a linear process: businesses need to monitor and revise their practices continuously to achieve success, and not everyone is ready to take the next step:  

“Seventy-five percent of surveyed organizations say creating and preserving knowledge across evolving workforces is important or very important for their success over the next 12–18 months, but only 9 percent say they are very ready to address this trend.”

Despite being aware of the importance of strong knowledge management systems, organizations need to realize that the change is already happening. Industry leaders are already adopting people analytics and data-driven learning, and strengthening knowledge creation and sharing within the company can give a strong edge over competitors. However, Deloitte’s research has shown that many companies do not yet recognize the true value of knowledge for their success:

“More than half of the respondents to this year’s Global Human Capital Trends survey (55 percent) still define knowledge management as the simple documenting and disseminating of knowledge. Far fewer link knowledge with action to drive value (36 percent), while less than half (43 percent) see creating knowledge as a key to developing new products, services, or solutions.”

When organizations implement practices for the effective use of knowledge in product development or service delivery, they can significantly improve decision-making and foster innovative and creative workplace cultures. Data-driven learning offers a powerful solution to the problem of knowledge management and organizational learning across distributed workforces. It aligns individual goals with organizational KPIs based on people analytics and allows employees to follow their personalized learning paths to success. 

The Role of AI in Knowledge Management

Deloitte’s report indicates that organizations are struggling not only with adopting efficient knowledge management practices but also with utilizing technology to their advantage. The research highlights the increasing role of AI in organizing information and improving content workflows within companies. These technologies serve to boost organizational learning by delivering necessary information in real-time and fostering the so-called “superteams”, but few companies are using them: 

“Thirty-six percent of our survey respondents said that the lack of an adequate technology infrastructure constrains knowledge management at their organization. And nearly seven in ten (67 percent) of our survey respondents have yet to incorporate AI into their knowledge management strategy beyond a limited extent.”

Not capitalizing on the potential of AI for knowledge management can put companies at a real disadvantage in the face of competition. Although AI infrastructures can indeed be quite costly, there are available solutions that a business can rely on to do the work. Rallyware’s performance enablement platforms are already using AI algorithms that analyze business data and align learning programs not only with the organization’s KPIs but also with the skills and expertise of each employee. 

Performance Enablement Fosters Employee Engagement and Collaboration

Deloitte notes that leaders in knowledge management recognize and highly appreciate its value for the development of new products or services. However, successful knowledge management does not stop at data and technology to analyze it. 

Building an intelligent and agile talent base with the help of performance enablement platforms offers one of the best ways to gain a competitive edge over rival companies in the unstable economic environment, boost human capital management, increase talent retention, and foster a culture of continuous learning and knowledge sharing. 

Rallyware has been known for boosting employee experience and engagement and helping businesses drive their KPIs through the use of people analytics, smart algorithms, and a powerful business rules engine that delivers the right learning to the right person at the right time. 

Looking Toward the Future of Employee Training 

Despite the obstacles to efficient knowledge management that companies might be facing based on Deloitte’s insights, distributed workforces are here to stay. Adjusting to the changing market environments is the key for organizations to stay on top of their game during and post COVID-19. Knowledge creation is important for boosting performance for as many as 79% of businesses surveyed by Deloitte, and this can be achieved through a digital transformation. If you would like to learn more about how Rallyware Performance Enablement Platform can drive the productivity and engagement of your teams, request a demo today!