Analysts estimate that Fortune 500 companies lose a combined $31.5 billion per year from employees failing to share knowledge. Here’s how to keep people from recreating the wheel, repeating others’ mistakes, or wasting time searching for specialized information:
- Create a designated space for vicarious learning. Having a common space that individuals recognize as the gathering place for ideas and experiences lays the foundation for sharing knowledge.
- License and endorse vicarious learning. Leaders should be encouraging employees to seek and share experiences often. This gives individuals license to seek out what they need to learn, without fear that they’re being intrusive or that it will make them look bad.
- Plant starter seeds for vicarious learning. Set aside time at the beginning of meetings for people to discuss challenges and problem solve together. Or schedule a team breakfast or happy hour where employees can chat freely.
Adapted from "Is Your Company Encouraging Employees to Share What They Know?" by Christopher Myers
