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In the Boardroom
Date: Friday, October 21, 2011, 6:00am EST How Can You Urge Innovation Within Your Firm?Premium content from The Business Journal - by Ruth Kinzey, Contributing writerWith the passing of Steve Jobs, much discussion has resurfaced on the importance of innovation. So it seems particularly timely that, as you begin fleshing out your 2012 business plan and review your long-range strategy, you should scrutinize these two to ensure a commitment to innovation is embedded in them. So how does an organization inspire a commitment to innovation? Promote innovation and change in your communication. Whether in an e-newsletter, weekly department meeting, training module or the president’s monthly communiqué, innovation and receptiveness to change should be foundational in the messaging. This way, leadership can reinforce the important role of innovation in the long-term success of the business and why it must be an integral part of the daily work routine. Share success and progress. Recognition of a job well done motivates many people. Seeing individuals recognized for their innovative contributions can inspire others to perform similarly. Plus, providing concrete examples helps employees understand organizational values and improves the chances of this positive behavior being replicated. Business is known for measuring everything from return on investment to productivity. Why not provide updates on initiatives that exemplify innovation? That way, associates will understand how important this attribute is to the company’s profitability. Benchmark. Compare your organization to that of your peer group as well as those in other industries. Analyze best practices. Is your company identified as a leader in innovation or cited as exemplary in its innovative approach to issues and market responsiveness? Is your business cited as having vision and able to meet new challenges? Communicate these findings to your associates and share how they can contribute to the success of the organization. Conduct competitions and workshops. Looking for innovative solutions to problems? Create competitions, focus groups, or workshops that tackle these issues. By involving more associates, greater diversity of thought is achieved. This produces more feasible options and raises the level of employee engagement. Include in performance evaluations. Innovation isn’t achieved by simply waving a magic wand. If your company is interested in establishing a reputation for innovation, it should be underscored during the annual performance review process. If the pursuit of innovation is to become a sustainable part of the corporate culture, it must be related to the typical work day. Consequently, managers must work with subordinates to personalize what innovation means in the day-to-day operation and identify how it can best be measured. Link compensation to innovation and improvement. If an emphasis on innovation and the ability to implement changes are incorporated into performance evaluations, their importance can be further emphasized by tying compensation to positive strides made in this area. Give it time. We’ve all seen companies create programs or announce change management processes that are to make the organization more innovative. Then, before the initiative is communicated fully or the idea is implemented completely, another innovation or change is driven down through the organization. This leaves workers confused and frustrated, believing they wasted valuable time in their work day on a project without merit. In fact, by appearing to jump from one idea or approach to another, employees may perceive management as indecisive or fickle. This perception, in turn, undermines employees’ support for future innovative projects and changes. By planning thoughtfully, communicating thoroughly, implementing completely and monitoring effectively, employees have an opportunity to see why the company values innovation and understand the business is truly committed to weaving this value into the organization’s cultural fabric. While a long-term commitment is needed to ensure success in this endeavor, the results can be many: improved responsiveness to economic factors and market trends, a more fully engaged work force, increased profitability and a reputation for innovation. Ruth Kinzey is a corporate reputation strategist, consultant, and professional speaker. Want to hear more about a specific topic? She can be reached at (704) 763-0754. To read some of her blogs, go to the Resource page |
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