No one is asking you to turn your company into a hippie commune, but the fact is that even your most senior executives can learn something from a new hire. Knowledge sharing without hierarchical boundaries will drive better results, increase sales, reduce costs, improve efficiencies and create leaders across your organization.
Creating a knowledge-sharing culture within your organization where individual contributions and peer-to-peer mentoring is rewarded will result in a rich history of tribal knowledge and heightened employee engagement. These benefits will directly impact your bottom line according to the National Business Research Institute.
The first step to creating a dynamic leader at any level in your organization is to first motivate employees. This means more than just top pay. 78% of surveyed employees cite recognition as being the top motivator.
And this isn’t just isolated to being recognized in the employee-employer relationship. Recognizing your team members’ contributions in a public or social setting can reap the most powerful rewards.
However, employee engagement is more than just a one-way street. If you only give and hope they stay, you end up with a workforce full of takers. There needs to be a common goal of making each other better and knowing that the end result is that you both succeed.
Establish a culture that respects and honors its contributors and you will empower each member to lead individually.
Having a culture of sharing isn’t enough, though. It’s imperative that you equip your people with a place to share, where that knowledge is recorded, easily searchable, and maintained for future generations of your workforce.