By: Ryan Ayers
Businesses must adapt and innovate to succeed in today’s marketplace. However, innovation is not a part-time undertaking. It’s the foundation for effective organizational management and taps into the creative power of staff members.
Savvy executives who want their organization to succeed should establish innovation as the core of their daily operations. For some companies, innovation leads to the transformation of the entire enterprise. For other firms, however, innovation simply involves a change in thinking.
Ultimately, innovation is about people. Companies that encourage growth and leadership can create a satisfying work environment. Leaders can’t force staff members to innovate. However, in the right environment staff members intuitively act as entrepreneurs and innovation flourishes.
To promote an innovative work environment, business leaders must figure out the best way to promote innovation as a corporate culture. For instance, candid conversations between staff members and leadership can result in better outcomes for innovation initiatives.
Innovation Will Improve Your Business
Innovation brings forth new ideas and improvements in business processes. These discoveries allow enterprise leaders to bring new products and goods to market and increase efficiency as well as profits.
Local, regional and national markets are growing increasingly competitive. This is due to new technologies and the relatively recent surge of information available online. To compete in this environment, business leaders must make innovation a fundamental business process. They must plan for innovation and creativity as well as create the right environment for company executives and staff members to develop new ideas.
Live Your Values, Especially in the Workplace
In the modern workplace, diversity and inclusion are top priorities. It’s important to honor values and create a corresponding corporate culture. Gender equality, for instance, is a growing priority among the nation’s business leaders. Despite this, many American enterprises still choose men over women for corporate leadership roles. Case in point, studies show that mid-career male executives are 70-percent more likely to secure an executive position compared to women.
To mitigate this circumstance, smart business leaders can leverage online resources such as the National Women’s Law Center report titled Equal Pay in The Wage Gap. Another resource is the American Association of University Women (AAUW) website. The group works towards gender equality and salary equity for women.
Be Open Minded, and Willing to Learn New Perspectives
Business leaders must nurture a corporate culture of innovation to foster improvements. The real mark of a leader is the willingness to ask questions and think about new and better ways of doing things. Staff members must have an open mind and the willingness to do this as well to produce innovation.
For innovation to thrive, employees must embrace a spirit of collaboration. Additionally, employees need time to generate ideas and explore how they can produce improvements. Over time, a corporate culture and employees with the time and freedom to explore new ideas will develop a habit of developing new, innovative concepts.
Focus on Employee Engagement and Satisfaction
Employee engagement benefits the entire enterprise. 32% of overall workers in the U.S. were considered engaged in their jobs in 2015. Engaged employees can enhance productivity and being engaged at work can influence positive growth for employees.
Business leaders who want to promote a culture of innovation make sure that their employees are properly trained to fulfill their duties. Using employee development programs, for example, effective business leaders inspire staff members to help the enterprise meet its goals. To effectively promote employee development, managers create a personalized plan for each staff member and use quantitative metrics to track employee progress and find opportunities for improvement over time.
Encourage Innovation and Growth
It’s important to encourage innovation and make the search for improvement an everyday affair. Continuous innovation takes an entrepreneurial state of mind and a culture that embraces change.
Staff members do not need research or engineering skills to develop groundbreaking innovations. Some of the best ideas involve new business processes, streamlined operations and cost savings. Other ideas are improved ways to engage consumers, ways to improve customer service or the implementation of disruptive new technologies.
It’s important that business leaders make the most of the people and skills within the enterprise. A great idea can come from anyone, from an intern to an executive. Employees are the key to unlocking the potential hidden within an organization. It’s important to listen to employees’ ideas, cultivate their concepts and believe in their dreams. Business leaders can start the innovation conversation by asking employees questions.
Effective managers lead by example, helping employees to grow and enjoy their work. Furthermore, innovation is a process that occurs over time. By providing employees with the time and resources to develop new ideas and the tools to network and collaborate, business leaders can successfully promote a culture of ongoing innovation and prosperity.
By Ryan Ayers
About the author
Ryan Ayers has consulted a number of companies within multiple industries including information technology and big data. After earning his MBA in 2010, Ayers also began working with start-up companies and aspiring entrepreneurs, with a keen focus on data collection and analysis.