Few things are more demoralizing, for a company, than it’s workforce repeating the same mistakes over again. Repetitive mistakes not only result in lowered revenue, but also hinders the growth of your company in terms of equity and perception. Its important for you to find out the source of the mistakes that the employees in your company keep on committing. Usually, the source lies in the lack of information available to all employee that can inform them about the impact of future decisions based on past experiences of the company. For instance, Information stored in a central database can provide knowledge for employees who need them before making crucial decisions that can impact your company.
The importance of knowledge cannot be quantified, as it provides the solution for eradicating mistakes made by your employees. Consider it as the fuel that propels your employees to maximizing their productivity, which is achieved by eliminating repeated mistakes and producing work that positively impacts your company financially.
Does this sound all to familiar to you? Do your employees keep on making the same mistakes? Here’s how knowledge base can eliminate this issue: the implementation of a company knowledge base system.
So how can such knowledge be accessible to all employees whenever they need them? Simple, it can be done through the implementation of a company knowledge base system.
A knowledge base can be described as a database that stores vital information for improving the daily functions of your company. It stores information relating to your employees, customers, products, competitors, which is important for future references. For example, employees can access the company knowledge base when in doubt about a decision. They can check if the decision worked out well in the past, or why it didn’t in order avoid the same mistake in future attempts.
Now you’re probably asking just how can a simple system provide all of this? Well, it’s not a simple system, its essentially a next-gen authoring tool that improves employee productivity by:
1. Making Knowledge Accessible
Information that is easily available is extremely convenient for your employees as it can help them resolve issues in a timely fashion with the absence of, or few, obstacles. Mistakes often happen when you aren’t able to derive enough resources that can help your prevent them. For example, a newly assembled marketing team is struggling to sell a certain product as they have failed to reach revenue goals from two unsuccessful advertising campaigns. The two failed campaigns could have been prevented if only they had access to sufficient product and target audience information. Such information would have provided them the source of the problem- they have been targeting the wrong audience all along and incorrectly positioned the product.
A knowledge base system assists your employees by providing easy access to information that they can flip into knowledge for resolving problems, challenges, customer service complaints,etc. It also enhances workforce camaraderie due to the various departments of your company interacting with each other through the system. If they had the information readily available to them, from a knowledge base, then their first campaign might have been a success.
Knowledge is sharing. If all departments of your company can work in harmony and be aware of the respective work and objectives of each other, then you can expect to see overall production skyrocket. Therefore, it is crucial to create a central knowledge database that contains vital information on how to carry out various tasks related to all departments of your company. It could be hosted through your company intranet, making it confidential to only your employees and easily available for them.
2. Instills Confidence in All Your Employees
With a knowledge base, you’re assured that your employees are making sound decisions that have been thoroughly analyzed. Your employees obtain confidence from knowing that the work that they have to complete or the decisions they have to make are backed by knowledge from facts/statistics. For instance, if a large portion of your sales force has been struggling, then most likely there is a problem in their product knowledge. A knowledge base can effectively brief them about all of the product specifications, features, benefits, and tactics for selling them as well. They can read over a wiki provided by your company, which can be more informative than traditional product manuals that would take time for them to understand.
An informed workforce is a strong workforce. Employees develop confidence in executing their respective tasks when they understand exactly what is expected of them and what the outcome will most likely be. Knowledge can be obtained through statistics such as conversion rates, reach percentages, website hits, etc . These stats help install confidence because, as the popular saying goes, men lie, women lie, but numbers don’t. Employees can be confident knowing that their actions are backed by reliable numbers as facts.
3. Instigating New Ideas
When the same strategy is not working time and time again, you have the option to helplessly continue with it or discontinue it completely and come up with a new plan. The latter is the more valuable option, and can be achieved through knowledge from various data about goods/services intended to be sold, target customer behavior/ satisfaction, employee productivity statistics, etc. These sources can form the basis of new strategies that can produce a more desired outcomes.
If you are part of an e-learning institution, then you’re aware about the importance of delivering content that can simultaneously inform and engage your students. Repetitive mistakes are common with e-learning, as you can continuously deliver content that might seem standard but is ineffective towards specific types of students. The teachers of your institution might be great at what they do but it can all go to waste if they aren’t informed about the learning habits of all the students and how they should tailor their teaching message towards them. A knowledge base provides teachers data about the students that signed up for their course, updated information about all topics/modules of their course, updates on fellow teaching colleagues and company news.
Workforce turnover rate adds to the expense of your company’s precious time and money. Instead of firing underperforming employees, why not increase their knowledge about everything about your company? Giving them access to key company information will eventually increase their production as they will have full knowledge about their tasks and how to tackle them effectively. They can easily gain knowledge through the access of data/information from a central knowledge base system.