Knowledge exchange, also known as learning and sharing, is extremely important for each and every company in the world. There are different ways to exchange knowledge in your organisation, but they all have the same advantages. It can simply be a physical board or an online platform where everyone shares what they learnt or read from a book everyday. To invest more, it can be a full session where there is someone speaking about a topic. In this article, we are going to discuss why knowledge exchange is absolutely essential for all companies.
1. Stimulating innovation and growth
Everyone has their own strengths and weaknesses. Some people are good at technology while others are good at economy. With knowledge exchange, employees can gain access to a wider range of information which is useful to get better results. As humans, we are all achievers from the inside. Getting exposed to different skills and know-how from your peers helps you want more from yourself. The stimulation of innovation and growth helps your members be more productive and able to come up with new ideas and strategies.
2. Limiting the skill gap
There is a saying: “Your team is as strong as its weakest member.” With knowledge exchange, juniors or new members can easily catch up with the senior members of the team and keep everyone on the same page. Thus, creating a free environment where everyone is able to ask any questions and receive feedback frequently from their team leaders are extremely important for the growth of the entire team.
Holding learning and sharing sessions are the best way to help everyone bond together. By doing that, you can have some relaxing time at work while acquiring new things. Funny sessions with some creative games can help different teams interact and increase bonding with each other as well. Furthermore, when team members help each other grow, it also strengthens the team spirit and leads to work efficiency.
Recognition at work has been proved to be one of the main indicators that largely affect the retention rate. Sharing your knowledge or helping others grow can build your reputation. The more you share, the more likely you are recognised as a valuable expert. Moreover, employee recognition can help motivate others to follow this activity and try their best to get recognised as well.
When employees start sharing their knowledge, especially between senior and junior members of the team, it can help save a lot of time and effort of the company to go through many training sessions with the new members. Moreover, different departments have different experiences with strategies and plans that can be beneficial to be shared with each other before any implementation.
All in all, knowledge exchange is indispensable in every organisation. It can be implemented in different ways, from a physical board to a complex online platform. Therefore, with all the benefits it can bring and easy ways to set up, learning and sharing is a must in your organisation if you would like to achieve great success.
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