This blog post has been written by Amer Haleem, Country Manager, Productized Services, Hay Group India
Everything is evolving. Fact established already. So, how can any organization believe that ideas can remain stationary? As the business environment evolves quickly, companies will have to focus on keeping up with this quick pace. Technological change and globalization will only add pressure to think rapidly and think afresh. I have spoken about the six big megatrends that are changing the global business environment and through this series of blogs, I try and provide a few solutions.
Amongst the five major challenges that organizations are bound to face in the next 15 years, we’ve already spoken about collaboration, transparency and agility. As you may have guessed from how I started this post, the focus today is on innovation. But, before I dwell on that further, I’ll once again state the obvious- the solutions to most of these challenges is directly linked to ensuring your workforce stays engaged and enabled.
So to cut to the chase, the biggest mistake an organization can make at this point is to believe that innovation is limited to the job profile of R&D. Ideas are not limited to a specific job function and companies have to ensure that their employees know that. We believe that innovation needs to be part of an organization’s work culture and people have to be engaged to adapt to this environment. It is therefore absolutely mandatory for employers to be committed to innovation and keep their talent engaged. Be it involving employees in innovative projects or allowing them to think without hesitance- organizations need to ensure that their people never stop thinking.
Now, a reality check. Where do we stand at present? Hay Group’s research reveals some worrying facts.
Employees aren’t convinced that their companies are innovative enough when it comes to improving how work is done. Almost half (44 percent) do not rate their organization highly for using new technologies and creative approaches to enhance performance. More still (47 percent) feel their ideas aren’t put into practice. Therefore, it’s not surprising that almost two fifths (39 percent) of workers say their company isn’t innovative when it comes to developing new products and services.
It’s not a pretty picture and this is clearly a crucial challenge that companies will face in the next 15 years. So, what can you do to ensure that innovation is deeply embedded into your organization’s core values? Based on our research, here is a glimpse into some of the measures that you can take to keep up:-
- Generate a culture of innovation
- Assess your leaders’ styles
- Create clarity
- Reward and recognize innovation
- Foster collaboration
- Bring new ideas and thinking into the organization
- Make innovation part of your recruitment strategy
- Signal that the business supports risk-taking
- Formalize experimentation
- Give employees opportunities to listen to and understand customers
- Encourage innovative thinking from the outset
- Enable people to be inventive
- Expand people’s horizon
It seems like a long to-do list. But, you can start with something as simple as putting teams together and giving them the time and the space to come up with innovative solutions to the problems they face. Innovation is absolutely mandatory for success and neglecting its significance can spell disaster for organizations.
Interested in keeping your workforce engaged and enabled? We now bring to you a very exciting offering. Download our ‘Engaging hearts & minds’ report now to avail the offer.