There are many ways in which technology allows companies to leverage knowledge and human capital, which are some of the most valuable assets of any modern enterprise. First, technology makes the process of sharing information easier and more resource-efficient. Second, it can enable the codification of knowledge, its replication, and wide distribution in a matter of seconds. Third, it offers a number of networks for collaborative decision-making and product development, which allows each member of the team to contribute to the discussion and offer a fresh idea.
For Cisco, technology helped it to introduce the Integrated Workforce Experience, which allowed to creation of specialized teams to collectively transfer knowledge, as well as to facilitate peer-to-peer information sharing. Another example is Google, which ensures its employees have digital meeting spots for tech-enabled communication, booths for video calls, and access to intuitive conferencing systems. Technology can certainly enable sophisticated forms of communication through collaboration networks that are perfect for enabling a seamless flow of suggestions and ideas.
Moreover, technology makes it possible for employees to bypass the traditional hierarchy-based chain of communication, which makes knowledge sharing more transparent. Technology also allows workers to communicate across teams, which means that a junior designer’s idea may be an excellent solution to one of the issues faced by the customer service department. Tech-enabled collaboration tools ensure employees can have unlimited access to a collective source of previous video calls, texts, discussions, and voice mails. This is crucial for employees to freshen up the most recent ideas and suggestions to come up with relevant additions. Lastly, there are now various apps for making collective decisions. Thus, there is no longer any need to rely on multiple corporate meetings and a traditional “chain of command.” Key team members can make quick decisions instead of focusing on trying to navigate the formalities of corporate hierarchies.