Employee onboarding can be an expensive affair, and the longer it takes to complete the process, the greater the cost becomes. It’s estimated that, on average, organizations spend over $1300 training a new employee, although some experts say the price tag is often much higher, running as much as $4,100 per employee.
Companies that invest in knowledge management can improve the employee onboarding time and reduce associated costs by up to 75 percent. Along the way, they’ll also enhance the employee experience, increase engagement, and foster collaboration.
CEO at KMS Lighthouse
Sagi Eliyahu, CEO of KMS Lighthouse, recently spoke with SourceForge about how effective onboarding lays the groundwork for a new employee’s experience with a company, and how onboarding software like KMS Lighthouse makes the process faster, friendlier, and more enjoyable.
Who’s KMS Lighthouse?
KMS Lighthouse is an award-winning knowledge management platform designed to help organizations work more efficiently and deliver a better employee and customer experience alike.
What industries do you serve, and which businesses require your services?
Since all modern organizations use knowledge to some degree, we serve all industries, including automotive, banking, government, healthcare, hospitality and travel, insurance, logistics, retail, and telecom. Our clients include global brands like GE Healthcare, Orange, DHL, Techstyle OS, M&S and many others.
What is a knowledge management system and why is it so important for onboarding and training of new employees?
A knowledge management system (KMS) is where organizations store all their “know-how” and “how-to guides.” This might include HR information, technical data, decision flows, and procedures representatives or agents must follow when providing customer service. You might say a KMS is a company’s “Wikipedia.” What I mean by that is that everything you’d want to know about a company, it’s products, services, and processes, is in there and easily accessible with one click.
Getting new employees up-to-speed on all this information can take anywhere from several weeks to six months or more. Our role is to put all that information in a central location thereby reducing the onboarding time significantly.
Which issues are businesses currently facing with their onboarding and training processes, and how does KMS Lighthouse’s solution help in resolving them?
Onboarding and training requires interdepartmental cooperation. Siloed, manual processes that rely on remembering where to find information are frustrating and make it difficult for new employees to locate the knowledge they need to do their jobs. KMS Lighthouse eliminates manual searches and human error by using a simple dashboard that makes finding accurate and useful answers fast and precise. It sounds simple, but our patented technology is anything but, using AI and machine learning to learn and improve over time.
Can you give an example of how a business typically incorporates a Knowledge Management System into their onboarding process? And how long does it take?
Certainly! First, when a new employee joins a company, they get a notification and defined process in the KMS that includes all the information they’ll need to perform their role effectively. Second, we don’t ask the employee to memorize anything; rather, we guide them in using our system to find the knowledge they need. If they don’t find what they’re looking for, we ask them to provide feedback within the system so the content manager can investigate and determine if additional information needs to be added to the system. The entire onboarding process can be reduced from months to weeks.
How would you advise a company that wants to implement a knowledge management system to get started?
Start by defining the reason you’re looking for such a system. What are your business drivers? For instance, do you want to improve call center agent performance, upgrade HR information sharing across the enterprise, improve onboarding time, or some combination of goals? Once you know what you want out of KMS software, the easier it is to get started implementing it.
How does KMS Lighthouse compare to the other knowledge management providers on the market? And what sets you apart from the competition?
The first thought that springs to my mind is the simplicity of our system. We check every box on what you’d expect from a knowledge management system, and the search experience we give to users is simply “WOW.”
About KMS Lighthouse
KMS Lighthouse is a leading provider of ground-breaking knowledge management solutions. It’s committed to providing smarter and better ways for companies to provide more rewarding onboarding and training experiences for employees. Our knowledge management solutions help drive better business interactions while simplifying communications and providing agents and other employees with real-time access to accurate and consistent knowledge. For more information, visit the company’s website.
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