The need for knowledge management will be more apparent as the importance of intellectual capital continues to grow. With the business landscape growing more competitive, easy access to relevant knowledge is essential to survival.
The right information stored in the right place can help your sales people deliver a perfect sales presentation. It can also help your workforce to adapt to new technology.
Online learning provides opportunities to do more than just dispense training. It lets knowledge-hungry employees access important information and reference materials. It is also lets your people share their expertise and grow communities of knowledge. Finally, it ensures that whenever your employees move on, they don’t take all of their knowledge with them.
Intellectual Capital: The Benefits
There are lots of benefits toharnessing your intellectual capital:
- Become more innovative by sharing ideas.
- Communicating your vistion and values.
- Helping people understand their market position and their customers.
- Improving customer service.
- Streamlining operations, improving skills and increasing revenues.
- Recognising employees’ knowledge.
The need for a connected approach to organisational knowledge should be an area of concern for any forward-thinking business. Social learning platforms and knowledge management are fast friends.
Both attempt to improve performance by making knowledge easily available. Using a social learning platform as a repository for intellectual capital can effectively boost the return on training spend.
A study, involving 182 sales teams seeking to attract new client contracts within a management consulting company, found that teams that utilised advice and expertise from their workmates produced higher quality work and finalised more contracts than those that did not (Martine Haas, M. T. Hansen, 2007).
A Collaborative Culture is essential
Creating a culture that harnesses intellectual capital is not easy. Knowledge is often stored at an individual level as employees look after their own interests. A salesperson might not share their techniques for fear that they will drop down the rankings. Without a collaborative culture, the intellectual capital within your organisation may be lost.
What better place to encourage knowledge transfer than through a social learning platform? Here, workmates can talk about their experiences and share tips with their colleagues. Online learning also recognises those who share their expertise.
A social learning platform gives your people a voice and a chance for self-expression. Adopting a system that rewards users for sharing can motivate individuals to share what they know.
While your people share their experiences in the classroom, online learning lets you capture intellectual capital on a grander scale. It is a opportunity to grow your ROI over time and build on a cost-effective and efficient training campaign.
Find out how a social learning platform can transform your organisation here.