One of the most effective and essential responsibilities of a business is capturing best practices to guarantee that years of expertise and knowledge are not lost when a key employee leaves. With the workforce changes currently affecting industries across the nation, maintaining corporate memory is more vital than ever to mitigate the loss of your knowledge. Knowledge transfer plays a key role in this process – here’s why.
What are Best Practices?
Before discussing the value of knowledge transfer regarding best practices, let’s take a moment to explain why the preservation of best practices is so critical.
Best practices are the standards or guidelines that provide the most effective and prudent course of action in a given business situation. While companies often establish internal best practices, regulators or governing bodies may also have input into best practices to ensure compliance. Best practices work to provide organizational consistency, streamline workflows, maximize efficiencies, and provide optimum results.
Knowledge Transfer vs. Knowledge Sharing
Knowledge transfer and knowledge sharing are not synonymous, although they are similar.
Knowledge sharing has a broad focus and is associated with passing along insights, concepts, or ideas to other team members to encourage collaboration and innovation.
Knowledge transfer, however, refers to the technique utilized to pass along essential skillsets and best practices information from experienced employees to new hires or replacements. Knowledge transfer is primarily relevant when training employees and keeping data within the company, such as in succession planning efforts.
Knowledge Transfer is Critical to Preserve Best Practices
The skills gap was already manifesting in the years leading up to the pandemic, but the challenges of the last three years have further aggravated the situation. With the workforce changes (retirements, quiet quitting, resignations, and standardizing remote work assignments) still in effect, significant expertise is in danger of being lost if not committed to corporate memory through documentation.
By facilitating the transfer of this vital knowledge and expertise, companies can have confidence that their next generation of employees will be adequately educated and trained on best practices. They can also ensure access to the resources necessary to operate the company efficiently and with reliability. In addition to the information, an internal best practices portal should offer context, providing the reasons and background for each requirement and recommendation.
Practical Ways to Convey Best Practices
● Training: While every organization understands the importance of training employees, they may struggle with best practice methods – especially given the constraints of staffing issues many organizations face. However, training can be achieved in various ways that do not require in-person classes and role-playing simulations, such as online web-based lessons, videos, and seminars.
● Peer-to-Peer Exchange: Coaching programs, shadowing, mentoring, and internships are all practical tools for onboarding new employees and communicating and teaching best practices. By invoking participation from key knowledge leaders, the company can ensure that training and knowledge transfer is consistently aligned with the corporate goals.
● Access to Documentation (e.g., your knowledge): From employee manuals to procedural documentation, best practices are saved in a wide range of formats and may be located in disparate locations – from the employee’s desk to the HR department’s file cabinet. When an employee is required to track down an answer to a simple procedural question, resources are often wasted. Ensuring that all relevant best practices and documentation are captured, aggregated, and stored in a centralized, accessible online location is one of the best ways to preserve and pass on critical corporate knowledge.
In Conclusion
Dynamic and flexible documentation methods are the key to establishing, updating, and communicating best practices. Therefore, taking control of the process is vital for the most efficient operation of your business.
Are you ready to learn more? Call KLONE today.