DOI: 10.5176/2251-2349_HRM&PD28
Authors: Loganathan Narayansamy Govender, Sadhasivan Perumal
Abstract:
This paper examines benchmarking as a strategic imperative in leveraging generic knowledge assets for human resource management. Often knowledge assets are never located when the need arises to use them. This results in organizations incurring huge costs and efforts in “re-inventing the wheel” or grappling with the challenge of locating, selecting and applying the knowledge assets to create or sustain the competitiveness of organizations. It is argued that acquiring and implementing best practices is a cost effective means of adopting and using existing knowledge. The recipient of the existing knowledge must be able to select and apply best practices that add value to the organization. Best practice knowledge assets are mostly explicit in nature, and become tacit knowledge when such knowledge is applied in specific contexts. The results of an empirical survey amongst selected higher educational institutions in South Africa, Mauritius and India reflected that whilst the majority of the respondents from the higher educational institutions support benchmarking knowledge management practices, the paper found that much more attention is needed to realize the full potential of this initiative.
Keywords: Benchmarking, best practices, human resource management, knowledge management, knowledge sharing
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