So how do you retain that knowledge? One way is to create a "Best Practices" library. Documenting all of the tasks and all of the procedures into a single knowledgebase creates one of the most important tombs of intellectual property for your company.

Through evaluation and classification, your company collectively combs through all of its procedures to store in this library. Evaluation compares alternative methods of accomplishing tasks and defines which method is the preferred method to use for which circumstances. Classification is the process of defining categories for the information to be retrieved.

A benefit to this task is getting one step closer to ISO 9000 compliance in documenting all of your processes and procedures. But don't sit on your laurels for too long, because the information in this library is only good when it is current. Maintaining and updating this information is necessary for this library to stay pertinent to the values and goals of your business.