Your organization probably has untapped knowledge that is lying dormant or siloed to individual staff or departments. Taking advantage of all the expertise within your organization is a great way to maximize its potential.

HCM knowledge management allows for the storage and retrieval of the information on marketing and sales activities, product & project management, service management and human capital management, etc. The information is organized in a way that can help new employees onboard or promote employees quickly up to speed with their new jobs.

Examples of knowledge management systems facilities provided by HCM include:

Project workflow: supports to capture a sequence of activities that need to be completed for a team or individual to finish a project or reach a goal. Employees can examine each baseline of the project to understand the progress and issues of the project at different stages. This is the closest training to real-life experience that new employees can get.

Knowledge classification & search: provides knowledge classification for outlining and mapping to depict the structure and the business objects in the system. It leads to an easier search of business objects and documents that are related to a particular knowledge in the system.

Research files: In developing projects and ideas, a company does market and consumer research to determine what is needed, what niches are yet to be filled in the market, and what trends can be forecasted. The files are then shared within the organization to allow all departments to benefit from the research conducted.

Feedback database: Everyone involved in a product or project, from designers to salespeople to customers, can share their feedback with the organization. All stakeholders can access the feedback and thus quickly make fundamental changes armed with better information.

Proper implementation of HCM knowledge management would yield the following benefits:

• Reduced time to find information
• Reduced time for new staff to become competent
• Reduced operational costs
• Improved customer satisfaction
• Improved bid win/loss ratio