Too much expertise is going to waste.
Many of the things we need to know to be successful – to innovate, collaborate, solve problems, and identify new opportunities – aren’t learned simply through schooling, training, or personal experience. Especially for today’s knowledge-based work, much of what we need to know we learn from others’ experiences, through what’s called vicarious learning.
Organizations know this learning is important, which is why they invest significant resources in handbooks, protocols, formal mentoring programs, and knowledge management systems to share employees’ experiences. Yet analyst estimates suggest that the companies in the Fortune 500 still lose a combined$31.5 billion per year from employees failing to share knowledge effectively.