Productivity Drain Research Report 2021: Breaking silos, realizing the value of employee knowledge
Why knowledge management or collaboration tools fail to address employees’ needs to access information
Zurich, 8 July, 2021. This week, Starmind AG, the human-centric AI technology company specialized in connecting people with expert knowledge, presented its findings on workplace productivity and collaboration themes in the 2021 Productivity Drain Research Report.
Employees spend vast amounts of time searching for information and looking for the right person to advise on a specific question or problem, independent of their title, department or location. Not having the right information at hand has a significant impact on their productivity and the company's bottom line.
In its report, Starmind engaged with over 1,000 enterprise knowledge workers across the US, Germany and Switzerland to better understand how the lack of true connectivity and collaboration can impact productivity. Some of the key learnings include:
- Only half (53%) of employee knowledge is retained and documented, with the rest being lost when an employee leaves the business. The longer the person has been with the company, the more costly the knowledge loss is.
- 73% of C-level executives make five or more decisions a week based on assumptions rather than facts due to a lack of access to timely answers or people who know.
- 41% of organizations are affected by departmental knowledge silos, which limit access to information – a trend that is being exacerbated by the pandemic-driven shift to hybrid working.
In order to break down the barriers that prevent employees from collaborating efficiently, companies need to identify, retain and share knowledge quickly and transparently.
Starmind founder and CEO Marc Vontobel said: “The Starmind Productivity Drain Research Report confirms the urgent need for companies to rethink their knowledge management practices. They have the opportunity to enable true knowledge sharing and collaboration within their organizations by unleashing the power of connection between employees across the entire enterprise. Employee knowledge is at the core of innovation, agility and overall productivity. This is why we aim to help
companies tackle the productivity challenge and build a stronger knowledge exchange culture based on employee recognition and empowerment. ”
As a knowledge collaboration platform designed to support organizations overcome the endless search for information, Starmind’s human-centric AI connects people who have questions to colleagues with answers. The Starmind AI solution learns from non-private data of existing platforms to build an always up-to-date corporate-wide knowledge network, enabling quick access to answer employees’ needs.
Starmind has received numerous awards and recognitions for its pioneering position in transforming the way people work through knowledge collaboration and the power of connection. Most recently, Starmind was shortlisted by Capterra among the top Artificial Intelligence Tools in 2021.
Furthermore, Starmind has once again been recognized as one of the top 50 AI companies empowering Intelligent Knowledge Management by KMWorld in the publication’s KMWorld AI 50 list.
More information on Starmind and the Productivity Drain Report can be found on starmind.ai.
Starmind`s human-centric AI connects people who have questions to colleagues with answers, helping organizations overcome the endless search for information. The unique and patented approach leverages internal, freely accessible information to autonomously identify the right person who can advise on a specific question or problem, independent of their title, department, or location. Seamlessly integrated into each organization's existing infrastructure, Starmind enables employees to connect based on their knowledge, leading to a 97.8% resolution rate.
Starmind empowers innovative global corporations, with offices across 125 countries, to reduce internal silos, connect knowledge across regions and recognize employees’ contribution across the entire organization.
For more information please contact Starmind’s press team:
Tel. +41 58 590 80 00