In any business, success boils down to one thing: ROI, or return on investment. You want to know that the investments you’re making for your organization and the benefits they deliver are worth more than what they cost.
But it’s not always easy to put a rand amount on a concept like knowledge and knowledge sharing — at least not as easy as the ROI from a piece of equipment or your office rental. So how can an organisation tell if investing in a knowledge-sharing platform can help boost their ROI?
In this blog post from our partner Eagle Point Software, we’ll cover how knowledge sharing can impact ROI at architecture, engineering, construction, and manufacturing organizations by reaching three goals:
Supercharge productivity and project output:
A study from IBM found that for every R20 invested in online training, companies received a R90 increase in their employees’ productivity. If that isn’t a testament to the impact knowledge sharing and training can have on ROI, we’re not sure what is! The logic behind this statistic is straightforward: when your team can do their jobs quickly and effectively, they can get a lot more done with their workdays. This increase in productivity helps you deliver projects to clients faster and take on new work sooner, without having to raise your labour costs. To accomplish this, your organisation should focus on two things:
- Giving employees the tools to solve their problems quickly.
- Providing your teams with training, so they have the knowledge to avoid running into these problems in the first place.
With a tool like Pinnacle Series by Eagle Point Software, you can do both things at once.
Employees can watch on-demand videos and access documents for on-the-go problem-solving, or work through structured learning paths to upskill over time. Pinnacle Series also encourages communication and collaboration, since subject matter expert employees can share what they know through custom content.
Perhaps employees will remember what they learned and be able to come back refreshed and ready to apply that knowledge to their jobs. Or, in most cases, they’ll be overloaded with so much information at one time that they’ll forget most of what was covered and require follow-ups after.
In the AEC & M space, many industries are already facing labour shortages. That makes it even more critical to give employees the tools they need to find success and stay at your organisation. Investing in your current talent not just boosts your ROI but can help build your company culture as well.
Pinnacle Series was built with the impact knowledge sharing has on ROI in mind.
If you’re looking for a knowledge-sharing platform that can give your organisation a competitive edge, contact us today to schedule a demo.
#knowledgesharing #efficiency #roi #PinnacleSeries