[Zurich, Switzerland, August 23] — Starmind, an AI technology that seamlessly connects employees to the expert knowledge they need in real-time, has released its latest future of work research report on The High Cost of Inaccessible Knowledge. The research, based on an online survey of 1,404 knowledge workers, showcases traditional knowledge management challenges and business impact in companies with more than 10,000 employees in the US, UK, Germany and Switzerland.
Starmind is a leading company in the field of modern knowledge management, committed to becoming the primary source of knowledge and providing access to expertise in large organizations.
The Future of Work research report shows the risk of downplaying the effects of knowledge silos and the impact on performance at a company level, as well as within specific teams - R&D, Sales and Helpdesk. C-level execs identify inaccessible knowledge as big a threat as the economic downturn.
Additional report key findings include:
- The average employee at these companies spends 102 minutes searching for the information they need to perform their jobs on a daily basis. That’s almost 25% of an employee’s workday.
- Time wasted searching adds up to $7 million in large companies over the course of a year.
- More than two-thirds of R&D teams say projects have been delayed due to missing information.
- Over 50% of sales and business development professionals say they would sell more if they had better access to company information.
- Employees at companies with 10,000+ employees raise 2.2 help tickets a week — at least 22,000 tickets between them every week. In addition, nearly 25% of help desks reported that all of their weekly queries were about issues already resolved for other employees.
“Knowledge management leaders need to recognize the importance of breaking down knowledge silos across the entire organization. Real-time access to employees’ expertise and experience is key to the productivity and innovation of their workforce, and ultimately the success of their enterprise. The way we work has changed and knowledge management practices need to align and support that transformation, for the benefit of both employees and the organization.
- Marc Vontobel, Starmind Founder & CEO
Starmind’s report showcases the true costs of employees lacking access to knowledge and experts in large organizations. For anyone interested in investigating solutions to challenges brought about by an outdated knowledge management strategy, Starmind’s Future of Work report has the answers.
More information on Starmind and the Future of Work report can be found here.