Retaining the Know How?
Availability of key skills comes on number 8 for business threat which makes US CEOs extremely concerned about in their organisation strategic planning (PWC 20th CEO Global Survey Report – Jan 2017). The picture becomes more concerning when another survey in USA released on 9th Feb 2017 by Willis Towers Watson research reveals that almost half of employees think they would need to change companies to advance their career. This is a high trend from 2014 Willis Towers Watson research report which found that one of four employees are in the high retention risk. This high risk of losing skills and know who experience is fatal for organisations business development sustainability and it is alarming for clients who depends a lot on company’s profiles without concentration on the existence of the resources during bidding evaluation and before contract awards.
Moreover, when reading the retaining employees statistics, the concentration is always on the percentage of high risk retention category. However, reading more deep in the reports like 2014 Willis Towers Watson research report, we found that 34% of this category are exceeding performance expectations, 45% of them are meeting performance expectations and only 21% fail to meet performance expectations. There are many techniques to retain employees considering the high cost of losing them. One important one is raising annual salaries which doesn’t happening every year in many companies. However, in Middle East with the oil prices drop most if not all salaries had been reduced. According to International Monetary Fund; salary increases from 2016 to 2017 show modest change across the Middle East and sub-Saharan Africa for the countries reported, but IMF reports these economies continue to face challenging conditions. Therefore, considering the global market changes and the nature of Middle East job environment which depends mostly on the expats who they think they are going back home one day, how can companies retain the know how to maintain sustainable business rather than survival business model?
The answer comes from the evolving technology which allow to form knowledge base management system to not just maintain the know how but also gives the confirmation that everyone is working by the book and organisation procedures. There are limited companies in Middle East who think strategically to have such knowledge base management system.
We at Galaxy Enterprise Project Portfolio Management delivering such systems incorporating best friendly technology in association with high tech companies. Our process and know who of project delivery based organisations give us the sold ground to help organisations building a sustainable work flow processes meeting their special needs and capability which will work within their current systems with minimum interpretation to current operation. This live system allows the top management to know what’s going on outside their offices one click away. This system gives the top management in the company and the client side the assurance of the quality of deliverables before starting and during execution. This work flow process starts with approving and challenging the work method statement on the beginning from all aspects including best practices and cost optimisation. Overtime, the organisation will find itself having thousands of WMS and processes which if maintained in the right system will create big assets to its business. Similarly, to the policies and procedures in the government, it creates transparency on any work for easy auditing.
So what is required to build such knowledge base management system? How much it cost and how we can implement it?
It will be surprise to many that many companies have a similar system in a sample windows system. However, the knowledge base management should be having more security and limitation on access its information. Therefore, a content management system is the best approach. There are many content management systems and it depends on the company maturity to implement it and using it. Therefore, the cost it depends also on the chosen system.
Finally, this knowledge base management system will allow the organisation to achieve the following:
- Turning from reactive to proactive.
- Using latest technologies from mobile app and centralised database to have real time data reporting.
- Improving business intelligence and communication between the different ranking and departments on office and on site.
- Maintaining data accuracy and removing uncertainty through data security and evaluation.
- Ensuring the business sustainability by pumping new blood and reducing cost at any point of the projects delivery life cycle.
So don’t wait and turn your challenges into opportunity.
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