Knowledge sharing is intrinsically linked with business success. Research has repeatedly confirmed that employees who are allowed to gain from the team’s collective intelligence perform better, more efficiently, and achieve superior outcomes. An essential (and often missing) piece of the knowledge-sharing puzzle is video. Not only has video use skyrocketed in the face of remote work, but revenues generated from video-related interactions have jumped by 69% since April 2020. This makes it crucial to leverage video as a key cog in your knowledge management strategy in 2021.
Why You Need to Facilitate Seamless Knowledge Sharing Among Your Employees
A recent study conducted by Harvard Business Review observed sales performance among solo workers vs. those who engaged in proactive knowledge sharing. Employees who worked in pairs with a randomly chosen partner saw a 24% increase in sales productivity vs. 13% among those working alone. And the impact was lasting – several months after the study ended, workers who shared knowledge averaged 18% higher sales than those who did not.
Another benefit of knowledge sharing is that it enhances the employee experience. Especially in a remote working environment, where casual conversations and non-work-related chats are less frequent, knowledge-sharing activities help to strengthen engagement and workplace bonds. According to one survey, 79% of employees believe this to be a critical aspect of professional experiences.
Knowledge sharing allows you to:
- Reduce L&D costs as employees learn in a community setting
- Strengthen organizational culture by emphasizing key values through knowledge assets
- Develop future leaders by encouraging communication readiness
The Pandemic Has Added to Existing Challenges
However, the above benefits remain out of reach for many. Knowledge management has typically remained a siloed process, with limited opportunity for cross-pollination. Research from Deloitte suggests that the overwhelming majority of organizations are falling short of their knowledge management targets, failing to tie it to action (82%) and to enable innovation through knowledge creation (79%).
In other words, while the overall size of your content repository might be growing, in most cases, knowledge management practices are out of sync with employee expectations and business needs. That’s why there are persistent roadblocks, such as:
- Organizational silos in 55% of cases, making cross-functional and interdisciplinary knowledge sharing a problem
- Distributed teams (now the new normal, in 2020-2021) that are difficult to engage and may not be able to access core knowledge repositories as easily
- Lack of technology infrastructure in 36% of cases, specifically in areas like video that have a greater potential of making a lasting impact
- Top-down implementation where grassroot employees aren’t empowered to create knowledge, and there’s not enough focus on content asset usability
Inevitably, these challenges were compounded by the pandemic due to the absence of in-person interactions and a large-scale shift in workplace culture.
5 Strategic Tips on the Way Forward
As remote teams strive to maintain productivity levels and even help organizations gain from a post-pandemic economic boost, knowledge sharing and the incorporation of video must be top priorities. Here are five key action points to remember in your roadmap:
1. Expand your knowledge repository beyond the lowest hanging fruits
Traditional knowledge assets like multi-page whitepapers and text-heavy product collaterals aren’t in tune with the needs of a remote worker. Already, there are several distractions vying for attention in a WFH environment, and lengthy collaterals will find it difficult to sustain engagement. That’s why it is so important to look beyond conventional document formats and common topics, and think outside the box. Knowledge presented in a video format can be highly effective in keeping learners engaged, as they consume bite-sized content through the course of their work.
2. Build a clear information structure through annotations and interactivity
Video annotations and interactivity allow workers to take control of their individual learning experience. Knowledge transfer happens at the pace at which they want, and they are able to highlight and share specific portions of content for later reference. Annotations also bring about a clear information structure that aids in long-term retention.
3. Empower employees with video creation tools
For lasting success, organizations must try to achieve a “knowledge mentality” where knowledge sharing is encouraged and there is an intrinsic change in the way business is conducted. A big part of this is employee empowerment, where each individual worker or learner becomes a proactive stakeholder in the collective learning experience. Employees must be provided with video creation tools to document their experiences, share their unique insights, and add to the organization’s knowledge base over time.
4. Re-catalog your knowledge repository with a focus on UX
The absence of a strong UX focus hinders knowledge utilization and video adoption. The knowledge catalog has to be made intuitive on desktop as well as on mobile, keeping in mind the BYOD needs of a remote worker. It must also be equipped with global search, asset tagging, and multi-platform sharing options so that video or content consumption is a seamless part of the work experience and not an intrusive departure. Finally, video uploads must be fast and simple, accommodating even non-technical users.
5. Understand how knowledge is used to create impactful assets
By monitoring knowledge utilization through advanced analytics and data insights, organizations can pinpoint the exact areas of impact. For example, if a specific topic is “trending” in a particular enterprise location or function, you can gain exponential ROI by crafting tailored content in this category. Video analytics has to be acutely mapped for this purpose. Also, you need a dynamic content creation strategy where regular usage data and on-ground employee needs inform the type of content you create – not the other way around.
How kPoint Can Help
With video fast becoming the no.1 channel for information dissemination in both our personal and professional lives, it’s vital to reimagine knowledge management with a focus on video-based engagement and multi-platform sharing. kPoint offers a centralized solution for creating, hosting, sharing & managing video content, consolidating your sprawling knowledge landscape across intranet portals, LMS, HR systems, and more. kPoint’s advanced analytics uncovers the key hidden trends in viewership patterns, precisely understanding employee behavior to improve the experience. At a time when productivity is at risk, disengagement is rampant, and employees seek organizational support more than ever, this would be a massive differentiator for your enterprise.
To see how kPoint can help you solve major challenges of knowledge sharing management within your organization, contact us today to request a personalized demo.