What is A Knowledge Base

What is a Knowledge Base in an Organization?

A knowledge base is a centralized repository of information that is used to store, organize, and manage knowledge within an organization. It is a valuable tool that helps employees access and share information, solve problems, and make informed decisions. A knowledge base can include a wide range of content such as articles, documents, manuals, procedures, best practices, FAQs, and more. The data contained within a knowledge base is critical to your organization, it is similar to the knowledge humans pass down to their children. However, it is often fragmented across the organization and can easily be lost with key employees leaving or lack of ability to retrieve it.

The Loss of Retained Knowledge

Every day, organizations face the challenge of losing valuable knowledge and expertise due to various factors. In fact, up to 50% of all company information is lost or unretrievable. The loss of knowledge slows onboarding for new employees, makes your communication ineffective as the base they start on is not equal, and is losing you profits for these reasons and more. The issue is we have no way to track knowledge loss and as it goes unobserved, you silently suffer. Some of the common reasons for the loss of retained knowledge include:

Employee Turnover

When employees leave an organization, they take with them their knowledge and experience. This loss can be significant, especially if the departing employee was a subject matter expert or had specialized knowledge that is critical to the organization's operations.

Lack of Documentation

Not all knowledge within an organization is documented. If employees fail to document their processes, insights, or best practices, this valuable knowledge can be lost when they leave or retire. Without proper documentation, organizations rely on individual memory, which is prone to errors and forgetfulness. This happens many times on client facing teams, and is why we built Briefey AI to help retain client knowledge.

Ineffective Knowledge Sharing

Organizations often struggle with sharing knowledge effectively. This can be due to a lack of communication channels, a culture that discourages knowledge sharing, or a lack of incentives for employees to contribute their knowledge. When knowledge is not shared, it remains siloed within individual departments or teams, limiting its accessibility and usability.

How to Better Organize Company Knowledge

To prevent the loss of retained knowledge and improve knowledge retention within your organization, consider implementing the following strategies:

Create a Centralized Knowledge Base

Establish a centralized knowledge base where employees can access and contribute information. This can be in the form of a digital platform or a shared drive. Ensure that the knowledge base is well-organized, searchable, and easily accessible to all employees. Categorize information based on topics, departments, or any other relevant criteria to facilitate easy navigation. Categorization will be critical, because even if the documents are there, it may be impossible to know where the specific information lies. Especially if it is buried deep within a document or the document is mislabeled.

Encourage Documentation

Encourage employees to document their knowledge, processes, and best practices. Provide guidelines and templates to standardize documentation and make it easier for employees to contribute. Recognize and reward employees who actively contribute to the knowledge base, as this will incentivize others to do the same. Tracking that this is being done correctly is critical. Lead your team and make sure that it is being document correctly and appropriately. Another key item is convenience. Make it convenient for your team to document data.

Promote Knowledge Sharing

Create a culture of knowledge sharing within your organization. Encourage employees to share their expertise, insights, and lessons learned with their colleagues. Implement communication channels such as forums, chat groups, or regular knowledge-sharing sessions to facilitate the exchange of knowledge. Recognize and appreciate employees who actively participate in knowledge sharing activities. One thing you could do is host a weekly call and ask for "learned lessons" during the week. In your one-on-ones be sure to praise those that spoke up.

Provide Training and Learning Opportunities

Invest in training and learning opportunities for your employees. This can include workshops, webinars, conferences, or online courses. By continuously developing their skills and knowledge, employees become more valuable assets to the organization. Encourage employees to share what they have learned with their colleagues, either through formal presentations or informal discussions. Add these to your goals for your team to encourage participation and follow-through. What goes untracked will continue to go unchanged.

Implement Knowledge Management Tools

Consider implementing knowledge management tools that can help streamline the organization and retrieval of knowledge. These tools can include knowledge base software, content management systems, collaboration platforms, and single knowledge base tools. A knowledge base tool for client facing teams is Briefey AI. Briefey is a knowledge management tool for upcoming meetings. It retrieves information regarding the party you are meeting with (company, title, and context) and compiles that information into a easily digestible briefing note that can be shared with your teams beforehand. This type of knowledge management tool creates a centralized knowledge base for your team ensuring your organization retains knowledge. Evaluate different options and choose a tool that aligns with your organization's needs and goals.

Conclusion

A knowledge base is a powerful tool that can help organizations retain and organize their knowledge effectively. By addressing the challenges of knowledge loss and implementing strategies to improve knowledge retention, organizations can tap into the collective wisdom of their employees, enhance productivity, and drive innovation.