By Karl Mehta,
Founder & CEO, EdCast
Pivot. Strategize. Automate. When you think of buzzwords, none resonates more than “disrupt.” That’s because virtually every industry is experiencing the potential—or angst—of disruption.
Banks are dealing with the advent of fintech; customer service has been largely replaced by chatbots. Even the funeral home industry is remaking itself: Since the casket market is, well, dying, funeral homes are building “multi-sensory experiences,” so you can hold a loved one’s service at a golf course or the beach.
Whoever thought that business travelers would not find a replacement for the yellow cab? It’s happening—and fast. The result? A landscape that looks wholly different than it did just one year earlier.
Many companies today don’t know where to pivot because they don’t know where the ball is coming from. They’re left behind because they’ve lost their innovative and competitive edge and are blindsided by market realities and trends they didn’t see coming.
Not only that, they are going to lose their best people. “Millennials now tell us that their ability to learn on the job is their top driver when looking for a new position,” according to a recent report.
A knowledge network can help you compete. Here are four qualities companies should look for in a network that will bolster your company’s defenses against disruption.
- Companies need knowledge that’s curated.
A companion problem to not enough data is its evil twin—too much information. Today, digitally savvy companies know that they need to provide their employees with carefully curated knowledge to prevent overload. In other words, they need to help weed out the “signal” from the “noise.” A smart knowledge network will anticipate what employees need to know, and feed them the bytes that meet this gap. The key tenets of an effective knowledge model, according to Josh Bersin, principal and founder of Bersin by Deloitte, are “curation, career-recommended learning and data-driven recommendations.”
- Companies need knowledge that leads to collaboration.
Developing an exchange network of relevant and personalized knowledge allows departments to become connected, rather than siloed. When collaboration is strong, real-time pivots and other changes in the market or industry trends can be immediately shared across platforms, resulting in extremely agile actions. Close collaboration leads to trust, and trust is incredibly important in keeping teams strong and innovative in the face of change.
- Companies need knowledge that’s timely and relevant.
In today’s fast-paced world, many seminars and traditional learning options become stale by the time they’re delivered to employees. Even business schools are realizing how outmoded the conventional “case study based” curriculum is. Many leading edge schools are trying a new model and turning to real-time business issues that allow students to experience what’s happening right now. That’s why your knowledge
network needs to be a living, changing tool, rather than relying on trainings that are obsolete and increasingly irrelevant.
- Companies need knowledge presented in a format that’s compelling.
As we all know, millennials are now the largest generation in the workforce today. That means that companies wishing to engage with this generation have to be able to deliver to their needs and style of learning. That means providing content that is short, easy to consume and highly targeted to their specific requirements.
Disruption is coming to your industry. Is your team ready? Creating a vigorous culture of daily learning is the most important way to ensure your team is current and future ready. A robust knowledge network is one key to ensuring that disruption won’t take your team off guard.