Capturing the Value of Corporate Knowledge
Hunting Energy Services are a supplier of steel tubulars used in the the exploration, drilling and production phases of the Oil & Gas industry. In common with many other organisations, they were experiencing issues symptomatic of industry 'knowledge drain'.
How to attract and retain graduate level employees in an ageing workforce
Knowledge Migration – how to retain or prevent knowledge moving to other industries
Industry brand – how to attract knowledge workers from other industries
How to improve the speed to operational effectiveness for new recruits
Information vs Knowledge - How to assimilate and retain knowledge as opposed to simply capturing information
Informing Decision Making – How to access appropriate information avoiding information overload
Valuing Knowledge Capital – Adding knowledge to the Balance Sheet and measuring the Return on Investment
Nuenco consultants worked with Hunting senior management to identify that mitigation of risk associated with these factors could be achieved through the effective management of Hunting's Knowledge resources.
The 'OCTG Knowledge Bank' was developed as a Learning Management System co-branded with a wider KM Change strategy. Tacit knowledge was harvested from key discipline experts and combined with existing explicit knowledge to form core knowledge resources. Knowledge was classified as being within an industry domain (history, structure, commercial, governing standards, etc.) or an internal domain (customer relationships, manufacturing processes, proprietary products and services, etc.).
Knowledge Bank features included:
Commonly branded access to corporate knowledge resources
Knowledge Mentors appointed to champion knowledge sharing and assist student learning
Built on existing platform allowed Enterprise integration with existing systems
Career development paths and cross-skilling opportunities identified through knowledge profiling
Reporting based on individual/collective learning status and online testing
The OCTG Knowledge Bank and the related Knowledge Management (KM) initiative led to a significant change in Organisational Culture centred on innovative bespoke online Learning Management System, achieving several key goals;
It provided new Hunting staff access to knowledge resources that would enable them to reach operational effectiveness more quickly
Increased the knowledge sharing and knowledge generation activities within the organisation to increase greater overall corporate knowledge capital
Provided mentorship to staff to allow them to undertake a course of study with defined knowledge profiles for each job role within the company
Allowed senior management to track knowledge attainment for individuals and groups within the organisation