Encouraging online knowledge exchange among employees can lead to significant benefits for companies. This practice increases innovation by allowing workers to share ideas and solutions, fostering a collaborative environment. In addition, it helps to retain valuable institutional knowledge, especially when experienced staff leave the organisation.
A study involving 168 firms from various sectors found that businesses encouraging online knowledge sharing saw a 25% increase in the number of innovations. Companies can facilitate this exchange by creating online platforms where employees can share ideas and challenges.
However, it’s crucial to ensure that these platforms are user-friendly and engaging to encourage participation. They should also offer some form of recognition or reward for contributions, as this has been shown to increase involvement.
While this approach has clear benefits, it’s not without challenges. Key issues include ensuring privacy and security, managing the quality of information shared, and fostering a culture that values knowledge sharing.
Overall, promoting online knowledge exchange among employees can be a powerful tool for innovation and knowledge retention in companies.
Go to source article: http://blogs.lse.ac.uk/businessreview/2017/08/25/companies-should-promote-online-knowledge-exchange-among-employees/