What's all the fuss about Knowledge Management? 3 things you need to know before it's too late.

Knowledge Management is a top priority among companies looking to sustain an edge on competition. At face value KM is an important field that very few organizations have actually mastered, which makes it a keen target for consultants. However, as I've attempted to help some of my clients sort through the clutter, I've found very few best practices to draw from. First, as mentioned very few organizations get this right to begin with. Second, the needs and dynamics within organizations are so diverse in terms of KM that it would be nearly impossible to model one Knowledge Management System (KMS) on another. Exacerbating this problem, a huge population of knowledge-holders are retiring within the coming years. The threat to organizations is that as those baby boomers leave the company, so will the valuable insights, industry secrets, and best practices that have allowed them to succeed over past decades. Another trend has been that knowledge migration simply has not kept up with technology. Demographics and digitization, while opening the door for tremendous opportunity have crippled countless organizations. As I've been doing my homework, I've landed on three keys to overcoming these challenges that I hope are universal enough for all to apply.

1. The why matters as much as the how

Across the focus groups and stakeholder interviews I've conducted, baby boomers are continually worried that they are seen as expendable resources. Perhaps this is a new phenomena as a result of the countless layoffs we have seen throughout the current recession. Be that as it may, tenured employees don't feel the same sense of loyalty as they once did. Incentives appear to be misaligned to encourage the discretionary effort needed to pass on expertise to the next generation. Furthermore, because organizations have opted for lean over ample priority is given to the current projects underway, with little room for documentation, record keeping, or mentoring. Companies have repealed employee stock ownership programs (ESOPs), or purchased back treasury stock in a way to counter the decline of corporate valuations for their shareholders. Other companies have been purchased or restructured, leaving employee ownership ambiguous and convoluted. Even in situations where stock ownership is not the driving force for loyalty beyond retirement, a general distate exists between long-time employees and the companies they once loved. Great, world-class organizations find a way to reverse these trends. They know that senior workers can add value long after they retire and find ways to align their incentives with the future of the company. Think about why your workers will want to save and share knowledge with tomorrow's leaders. If you don't know why, then I can assure you this: neither do they.

2. No one will go looking for knowledge if it doesn't come to them

Some of you might be thinking right now, "It's okay, as long as we capture knowledge somewhere our people will be able to find it when we need it." Let me expel that myth right now with three simple words. NO THEY WON'T. Even if they wanted to, most would give up after only a few attempts for several reasons. Either they will encounter too many barriers to finding the right information, or by the time they are close to succeeding it will no longer be timely or relevant. The third reason is that the world today (and presumably tomorrow) doesn't know how to go find information. This is the result of a world that pushes any relevant information to the consumer when they most need it. We've grown lazy as a society of learners. Even when we really want to learn about something specific, we are overwhelmed with conflicting messages that take precedence because they are pushed at us. KM systems that work have migrated from old filing cabinets and online depositories to streams of relevant information, targeted by subject to select audiences, based on current projects and team orientations. Mentoring is no longer done with junior associates sitting next to senior employees "learning the ropes". It is an iterative experience, with a little here, a little there, and only succeeds when both parties are proactive and work to bridge the demographic gaps. This is anything but universal...sadly it's the exception. Technology is important, but it isn't everything. There are other methods for sharing information that can follow these principles, even when technology infrastructures are behind the times.

3. Curation is more important than creation

I recently sat in on a company's strategic planning that talked ab out the need to create a formal documentation process, whereby project teams would follow a template to detail the goals and outcomes of each project. The idea was rooted in a belief that this organization was not creating enough content to be shared with future generations of employees. This was a false premise. Information is everywhere inside this company. The problem for this company and many others is there is no way to sort through the mass of information to find the most relevant bits and pieces when needed. In fact, creating more documentation would only weaken the company's ability to apply relevant information. What this company and many others need is better curation practices. Curation is why the world's most renowned art museums never lose their lustre. This is why some restaurants always seem to have the perfect wine to accompany a meal, or why certain bloggers seem to get all the best ideas first. Curation is a method or process by which companies can obtain a competitive differentiation in the way it identifies the most important ideas and puts them in front of the right eyeballs. Employees are your audience for Knowledge Management, and the information your company holds are your artwork. Think carefully before you save, document, file, or share anything. The best way for you to manage knowledge is to decide what not to share with your employees. Curation can be performed by people, systems, or be captured in traditions...but the important thing is that without proper curation, all the brightest ideas in the world will be lost in the sea of mediocre or terrible ideas that plague your company.  

 

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