Accessing Tacit Knowledge to Drive More Innovation

Tacit knowledge, which refers to wisdom gained through experience but not clearly expressed, is often more valuable than explicit knowledge, which can be collected and transmitted throughout an organization. In fact, companies that don't leverage tacit knowledge better than their competitors often face difficulties. However, capturing this type of knowledge can be challenging, since it isn't as easily codified as explicit knowledge. Losing employees with tacit knowledge can lead to missed opportunities and negatively affect organizational performance. To tap into tacit knowledge, companies should encourage continuous learning and dialogue, build a culture of continuous improvement, and systematically gather and collect ideas.