How C-Level Executives benefit from using CollaboRate™
As a senior level executive, it is my responsibility to make sure that my company meets the revenue and growth objectives that we have set for ourselves, provide greater alignment, productivity and accountability of my people, as well as protect our Intellectual Capital and Tribal Knowledge from being lost. In today’s aging workforce that is no easy task.
We are trying to do more, with fewer people, so it is my job to make sure that our people work together and take advantage of each and every opportunity that presents itself to them.
I guess I have to admit that I was unaware of what impact and cost the loss of our employees knowledge had on the whole organization, when we had employee turnover. We are losing some of the most valuable assets we have, when we lose our senior employees, their knowledge and skill sets, when they leave, or retire.
We recently had to shut down one of our production lines, because the employee who ran it, knew things about running the line that wasn’t in the operators manual. When we lost that employee, due to an accident, no one else knew the things he knew to keep the line operating, the way he did. So, we had to shut that production line down and relearn our whole process. That not only cost us valuable production time and revenue, it actually cost us one of our best customers, because we couldn’t deliver their product on time.
I learned a very valuable lesson from that experience, one that I hadn’t even considered before, and that was how valuable that intangible, tribal knowledge was to our organization. I also learned that we didn’t have a plan in place to capture, protect, and capitalize on that knowledge and skill set, and needed to develop one.
I was reluctant at first, to consider Compendian® and their CollaboRate™ solution; because I felt that we could use the tools we had in house to accomplish the same thing.
I have to admit, that the more I understood what CollaboRate™ did, and how it could help the whole organization, the more I realized that it was the answer I was looking for. It would have cost us more in time and money to try and modify what we already had, to make it do only a fraction of what CollaboRate™ does. Plus, CollaboRate™ was an off-the-shelf solution that we could implement in a fraction of the time, and it didn’t require the involvement of my IT department to do it.
CollaboRate™, also came with a lot of features and analytics that we could immediately take advantage of. Since we worked with Compendian®, and implemented CollaboRate™, I have seen a reduction in the amount of time it takes for our new hires, or job transferees, to get ramped up and become productive. Now, they are able to tap into and use the tribal knowledge of those employees who have it. The reduction in that overhead, immediately drops to our bottom line and reduces our costs. Plus, our organization is more safe and secure, since we have captured and protected that valuable knowledge from walking out the door.
I am glad to say that CollaboRate™ has reduced the amount of departmental silos and misalignment that we had before. Now I have a handle on what is working and what isn’t, my department heads are more accountable, and I have seen an increase in productivity, efficiency and profits.
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