Starmind, the shared employee intelligence company, has unveiled a new report shining a light on the talent, expertise and skills gap challenges facing global enterprises. Research conducted amongst over 1,000 knowledge workers in the UK and US for the Starmind Future of Work mini guide for Solving the Talent, Expertise & Skill Gap Challenge has revealed that:
- Employees use just 38 per cent of their knowledge and expertise at work meaning organisations are failing to adequately unlock even half of the intellectual capital and brainpower of their people
- 61 per cent of workers can’t find the information they need to do their job effectively
- 90 per cent of employees want more opportunities to share knowledge and expertise
Too much intellectual brainpower and expertise is going underutilised, with further statistics pointing to a critical disconnect between the knowledge and skills organisations have access to, and how they organise and leverage them:
- 61 per cent of employees feel they could contribute more but they don’t know how
- Three quarters (75 per cent) say their organisation would benefit from accessing more of their expertise
- 65 per cent have knowledge their organisation isn’t aware of / doesn’t capitalise on
Meanwhile, individuals that want to either share skills and expertise or ask questions lack direction on who to approach and how. The sheer quantity of data at our disposal coupled with an inability to find task-critical information easily is posing a huge threat to productivity as enterprises risk losing out to duplication, slowed innovation, mistakes and inhibited problem solving:
- Information overload means individuals are lost for answers: 57 per cent feel overwhelmed by the volume of information they receive each day and 56 per cent state they receive too many notifications
- An inability to track down organizational experts: 57 per cent of workers experience having a question they need answering but don’t know who to ask and 52 per cent avoid asking questions entirely because they don’t know who to approach
- Hours wasted on non-productive, repetitive tasks are costing enterprises heavily: Knowledge workers spend over a working month each year (26 days) searching for information, knowledge and the right expertise in their organisation
“Not being able to quickly and efficiently access organisational intelligence is a huge burden on productivity,” commented Oliver Muhr, CEO of Starmind. “Failing to find, unlock and share knowledge effectively not only leads to a duplication of work and time wasted but makes brain drain a real threat. As the war for talent, expertise and skills heats up, organisations need to do more to make use of their collective brainpower and skills. Giving employees on-demand access to the information they need can plug productivity holes, enable them to excel in their job and solve problems quickly.”
It’s not only business productivity at risk, but employee satisfaction and retainment too. Starmind’s Future of Work Research found over half of workers have previously left a job due to not having access to the information they need to work effectively, while 83 per cent feel happier at work when sharing knowledge and helping others. As Gen Z’s become a growing force in the workplace, bringing with them a greater propensity for collaboration and knowledge-sharing, firms need to do more to untap the power of their team’s intellectual capital.
Leveraging and building skills in-house is fast becoming one of the most important components of enterprise strategy — one technology can support. 70 per cent of respondents said they believe artificial intelligence adds value and can help them be more effective, while 71 per cent feel more comfortable using a tech platform to search for information than calling a colleague. Despite this, 80 per cent would put greater trust in a co-worker than an AI or automated response, showing the continued importance of human connections at work, even in the AI-age.
Starmind itself combines human and AI to redefine the future of work. Using self-learning algorithms it creates neural intelligence networks that replicate how the human brain works. By learning who knows what in an organisation, Starmind can unlock employee’s collective intelligence and expertise to supercharge productivity and innovation, while enabling workers to develop new skills rapidly.
For more information, find the full research report here: https://www.starmind.ai/future-work-research