According to a Society of Human Resource Management study, organizations that optimize knowledge management are leaders in their fields.
"Trust, relationships and dialogue are the foundation for building organizational knowledge sharing," states the study. "Today success requires agility and adaptability, largely dependent upon the quick assimilation and application of knowledge to develop and respond to new technologies, new products and new services that can lead to a competitive edge. While some firms may view knowledge management as nice to have, proactive organizations see it as a key component of an effective business plan."
The study also found that research suggests that HR can promote effective knowledge management by focusing on four tasks: identifying behaviors needed for knowledge-based competition, ensuring the workforce has the required competencies, ensuring the workforce is motivated to engage in the required behaviors and providing opportunities for these behaviors in the workforce. The charts below outline some more findings.