Daily Archives: November 12, 2024

Money and KM

Knowledge Management can be expensive. If nobody follows the process, then it is money wasted. While there are a lot of aspects to get people to engage in the knowledge management process, one is key.

Add 5% of everyone’s time to knowledge management. If you are a leader in a science company, you will read this and say “but we make drugs” or “but we develop X” and “our business isn’t knowledge management”. If you are a leader in a retail company, you will read this and say “but we sell widgets” or “but we develop X” and “our business isn’t knowledge management”.

Of course your business isn’t knowledge management. Without KM, however, you will not be able to achieve as much in whatever your business is.

People mostly agree that KM is important, but if it isn’t attached to a paycheck or a bonus, then they will do it ‘later’. Making this change involves management, HR and local department heads, because they all have to know what KM is and what is the impact. it also involves organizational change management. Without someone to teach KM and lead the OCM effort, then it is hard to make that 5% work. However, it is important to get to the point where people understand that sharing knowledge creates company success.

Start with onboarding and move forward to that 5%.