Which metric is used to measure the effectiveness of knowledge management?

First Contact Resolution (FCR) is a key metric used to measure the effectiveness of knowledge management within a support center. FCR refers to the ability of service agents to resolve a customer's issue on the first interaction without the need for follow-up calls or additional inquiries. An effective knowledge management system provides agents with the information and tools they need to quickly and accurately resolve customer issues, thereby enhancing FCR rates.

When knowledge management is functioning well, it means that agents have easy access to up-to-date information, solutions, and best practices, which empowers them to address customer concerns efficiently. Higher FCR rates are often a direct reflection of effective knowledge transfer and utilization, indicating that the knowledge resources are effectively supporting agent performance.

The other options, while relevant metrics in their own right, do not specifically gauge the effectiveness of knowledge management in the same way. For example, employee engagement levels focus on the motivation and commitment of staff, not necessarily how well knowledge is being managed. Customer acquisition costs relate to expenses involved in attracting new customers rather than resolving their issues effectively. Lastly, market share percentage assesses a company's size in relation to its competitors, which is distinct from measuring the efficiency of support processes driven by knowledge management.