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5 methods to protect and share institutional knowledge *

Sep 30, 2022

The typical company in the US is able to lose $77 millions (!) per year in productivity because of an inability to share data.

Unable to gain access to the company's data, which is managed by employees (technically known as institutional information) can have a negative influence on the productivity of employees as well as their motivation.

If you're looking to keep documents about your institution's information This guide is helpful. This guide will explain the fundamentals of what institution know and will outline the steps you can take to begin storing the information.

In this article

What are the characteristics of data coming from institutions?

The institution's knowledge stems from the collective wisdom of the employees of the firm, and includes the details of workflows, processes, techniques and best practices gained over the course of several years of experience.

It is the collective memory of an entire business.

In the event that employees are retiring or start a new job They will take the knowledge of experience, knowledge, and the lessons learned over the course of their job and do not leave anything in the dust with the business.

Institutional knowledge is the product of the experience of employees as well as their information and insights, expertise, and details that are stored in the central memory of the business.

What does institutional knowledge do can be described as preserving the collective memories of employees, which means that companies can create their own memory centres.

The four ways in which institutions' expertise impacts the performance of the business

In addition to serving as the company's central memory centre, this company's information can assist in enhancing the efficiency of workers in their job as well as their productivity and further.

We'll look at the advantages when storing and making use of data from organizations like:

1. Increases the effectiveness of business processes and gain access to information

The research carried out by Panopto shows employees are spending 5.3 hours per week getting information from colleagues. 60% of respondents say it's difficult, or impossible to get information about projects from coworkers.

The best part is that institutional knowledge makes the data available to anyone. This is particularly useful in remote businesses where employees can operate independently in different times zones.

2. Increases employee satisfaction and productivity

Knowledge banks at institutions will reduce the unneeded back and forth that is required to find information, allowing workers with more room to concentrate on their tasks.

Open communication of information -that is otherwise not accessible to team members provides employees with knowledge they need to perform their work, thereby which can improve performance.Not to mention, the exchange of information between institutions reduces the frustration that eighty percent of workers experience when they are unable to access the knowledge they require to do get their job completed.

3. Improves the productivity of your company and improves increase the profitability of your business.

An employee who is new could be spending up to 200 hours each year looking for the missing information, or in figuring out ways to duplicate processes. It's a massive inefficiency and also a loss of productivity.

Additionally, poor knowledge sharing can result in revenue losses between $2.7 million to $265 million depending on the organization's size. Effective knowledge sharing methods will help organizations reduce the amount of time that new employees spend searching for the information they'll need to carry out their tasks.

4. Develops a culture of studying

If an increasing number of employees use the process of documenting the workflow procedures, processes and operating principles They could then share this details to help improve the effectiveness of their processes.

Writing videos and documents that share information allows employees to reflect on what they've learned and discover any problems.

Five strategies for sharing, distributing, and scaling the knowledge of institutions

Establishing a central information center can be a challenging jobespecially if you're only beginning to recognize the necessity of recording certain items. It's nothing an established procedure, as well as a team of personnel will not be able to do.

1. Utilize Internal subject matter experts

Employers could help in the delivery of knowledge sharing seminars and short courses.

Bonus points for recording sessions since they help preserve data and makes them accessible throughout the duration.

2. Create an intranet that is for internal use or set up a Wiki

Intranet sites are private sites designed by an organization to create a company-wide community, collaboration and sharing expertise.

Furthermore, it's possible to create an information playbook like a wiki in an application that manages knowledge like the Notion. You can format your pages in the manner you like. Additionally, you can easily include instructional videos and even images.

Pro-tip: If you're a smaller team but don't know how to start, look through the most commonly asked questions that team members need to answer, then record the responses.

3. Create a library of videos that could host all of your trainings, town halls and information about your products.

Video libraries are the central repository for all your knowledge sharing video. The employees can have access to them at whenever they want. These range from peer-to peer presentation videos to the expert-led workshops conducted by experts from within and town halls. Be sure to include all videos to your library.

  • Video clips of peer-to-peer workshops with internal experts and experts along with town hall meetings

"The subfolder and folder organization is extremely useful for managing content regardless of of whether the content is intended for use by the public or is only accessible to our employees at the back. It has made it much simpler for us to work together, manage and cut down on time it takes to search for information sources."

It also automatically converts the videos , which allows staff to find captions for videos by putting the words they recall to the"search" box.4. Develop documentation of new procedures that will be element of the workflow for the team.

4. Develop documentation of new procedures to be a part of the team's process flow

Teams shouldn't be in the habit of capturing their processes in just two days. Two factors could aid:

  • Involve employees in sharing the benefits of sharing knowledge with their benefit. Discuss how it will assist employees reduce their time and increase efficiency and enhance their understanding about the procedure.
  • Get employees involved. Instead of giving a list of steps to take in order to finish the project, you should work together to figure out what is the most effective way to create an effective process of documenting. Offer suggestions for tools and seek suggestions. Give examples of other ways to do it. Ask for feedback on the format(s) they'd like to record their process in.

After listening to each suggestion, then combine them into the most efficient method of documentation and document the procedure to communicate the guideline with others. Identify:

  • Who will be accountable for What?
  • What tools do employees have to record their work?
  • What are the characteristics that determine whether an idea is suitable for documentation?

A tip to follow: Encourage employees to notate the times they record their processes and operational principles, and most effective methods. If they do not follow a calendar, people will keep putting it as a low priority in their priority list.

5. Develop the procedure

Furthermore, you'll require an approach to documenting that's beyond the existing processes along with tools and samples. The document should outline the steps that the document must go through from its initial creation to the introduction into the central knowledge sharing hub.

Here's an example of a workflow

  • Ideation. Create ideas and a process that will capture
  • Outlining. Make a list of what you wish to incorporate in each document or video prior to creating
  • Create. Make a video from the original material, be it text or video in whatever form which you feel best fits the idea that you're thinking about.
  • Edit. You can work with an editor, or submit the work to the appropriate team. Provide a concise outline of the author's thinking in order to enhance the quality of the material's usability and accessibility.

You can create a library of your institution's information

The bottom line is that maintaining the details about the institution can help enhance the overall process. In addition, it increases employee satisfaction. Efficiency, productivity in addition to the performance.

If you are beginning to store and storing your data, make certain:

  • Select the appropriate methods to keep track of your progress and select an institution-wide library that will host the entire data of your institution.
  • Examine the current content for videos and comments previously published notes that are worth editing and enriching your understanding.
  • Create a production workflow and lay out a process to create a standard for creating documents that are simple to read.

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