The employee learning process starts the first day an employee steps through the door and ends with their leaving drinks. Their cognitive knowledge is everything they have learnt between the two and usually, companies rush to capture it within a span of 10 business days, the typical notice period in corporate America. Despite the importance of what is arguably an organization’s most valuable asset, employee knowledge, most companies focus on implementing knowledge databases, also known as knowledge webs or knowledge exchanges that store thousands of documents while omitting where most of the knowledge exchange takes place – in the daily chat interactions between employees. Focus on their cognitive knowledge (i.e. the knowledge inside employee’s head) is only put when the employee resigns and as a result, companies lose most of that knowledge forever. In fact, according to recent data from Work Institute, the estimated costs of employee turnover ranges from 33% up to a whopping 200% of the departing employee’s salary.
How can a company then capture all the cognitive knowledge of their employees before it is too late? This is especially important in today’s knowledge-based work where much of what we need to know we learn from others’ experiences.
Virtual assistants and chatbot become critical to encourage knowledge exchanges between older & newer generations and among employees in different departments and locations since they eliminate the traditional complicated KM interface made of multiple filters and buttons. Research has claimed that up to 50% of businesses abandon new knowledge management systems due to lack of ownership and stale content. The former arises early with the implementation of the new tool and the fact that most employees perceive it as another system where they have to log in and share their documents. Even with automated uploads, most employees do not see any benefit and it is therefore a matter of time before usage rate plummets. The latter emerges during the live of the tool as the content becomes outdated and is no longer relevant. When knowledge is not relevant to users, employees will then slowly stop contributing and using it and the KM software will just become another forgotten program in employee’s desktop screen.
Elqano overcomes these failure factors by introducing a combination of AI indexing and Chatbot powered technology. Elqano ChatBot is completely integrated into the existing chat program of the company, whether it is Microsoft Teams or Circuit so that employees do not need to log into a separate interface. The complete integration guarantees 100% adoption of the tool from day 0 with minimum training requirements and waiting times. Meanwhile, in the background, Elqano AI indexing technology is extracting only the most important information from all existing systems (e.g. SharePoint, Emails,…), accurately tagging it to the employee that produced it and that is likely to need it in the future and creates an initial Q&A database that feeds the Chatbot.
The knowledge journey then begins with minimum effort: the employee looking for an answer only needs to send a question to Elqano ChatBot. The Bot will then provide the answer if it exists in the initial set of documents. In the event that it does not, it will redirect the question though another chat to the employee that has been identified as an expert on the field. All the Q&A interactions are captured and updated by Elqano, thereby eliminating the need for an expert to reply twice to the same question and updating all the information in the platform. Since experts receive specific answers from another employee, they are more likely to reply.
As a result, Elqano gets progressively smarter with every interaction and employee usage. Up-to-date answers and an effortless integration are the foundations of Elqano’s offering, creating a co-learning and collaborative environment where new and existing employees are informed with the answers to the “how to” and “how do I” to many everyday tasks. Beyond giving access to critical knowledge, Elqano also changes employees’ mindsets, making them eager to leave their answers for future use. They all become aware that their expertise is beneficial to other employees who are or will face similar challenges in the future.
Curious to see how Elqano can help your company capture all its employees´ knowledge and increase its productivity? Contact us and get your quote today!