Why do some organisations succeed and gallop ahead while others don’t? They are doing something right. They have made innovation an essential. Innovation is their second nature. Once the spirit of innovation runs like blood through the veins of the organisation, employee engagement surges, creativity thrives and ‘stress’ and ‘burnout’ go out the window. Such an organisation not only manages to draw the best of talent but also retains them.
According to the ‘India’s Best Workplaces in Innovation’ report by Great Place to Work, innovation should cease to be just another “reactive” initiative and become a more “proactive mindset”. Imagine a workplace where innovation forms the basis of important decisions, where problems are solved innovatively and where team work is synonymous with innovation! Not only will such an organisation be more agile, its workforce will be more motivated. The sense of safety and security experienced by the employees to experiment without fear, take risks, learn from their mistakes and think out of the box will help such organisations achieve greater heights.
Simply put, organisations that are not yet near their success goals need to ensure that they are in either of the following three stages of innovation speed—frictional, functional or accelerated.
Yes, how fast or slow organisations are in terms of innovation speed is gathered by their innovational velocity ratio or IVR. At the Frictional IVR—4:2 stage, four employees are innovating significantly for every two that are slow in this area. The team dynamics in such organisations report 35 per cent burnout, 80 per cent feeling of belonging, 79 per cent retention, 82 per cent agility, 77 per cent motivation and 82 per cent workplace sentiment.
Organisations in the Functional IVR—7:2 stage have seven employees pulling the organisation forward in terms of innovation for every two pulling it backward. In terms of team dynamics, the percentage of burnout in such organisations is about 28 per cent, while belonging is 85 per cent, agility is 86 per cent, motivation is 83 per cent and workplace sentiment is 87 per cent.
The most successful organisations where innovation is prioritised are likely to be in the Accelerated IVR—11:2 stage of innovation speed, where 11 employees are actively innovating for every two that are a drag on the organisation with respect to innovation. The burnout (22 per cent), belonging (88 per cent), retention (88 per cent), agility (90 per cent), motivation (87 per cent) and workplace sentiment (91 per cent) rates are high in such organizations.
How can organisations get there?
Slow innovation is attributed to various factors. For one, organisations need to recognise the innovative contributions of the employees. If they are not appreciated and rewarded for their innovative contributions, employees will lose interest, become disengaged and fail to see any growth or channels for their creativity.
Second, when teams work in isolation, there is no sharing of knowledge. In the absence of cross-functional sharing of ideas and brainstorming, there is no actual benefit to the organisation. Focus should be on collaboration and team work, not individual contribution.
Third, employees should be encouraged to share and discuss ideas freely without fear of being judged or retaliation. Employees who feel safe psychologically, tend to speak up at meetings and regular town halls where trained leaders can encourage the employees to express themselves more freely. After all, open dialogue is essential for innovation.
Another point is that organisations tend to hinder creativity and innovation by emphasising too much on processes and metrics. Overemphasis on reporting, policies and tracking slows people down. Instead, focus should be on experimentation with ample flexibility for people to think and work creatively and fearlessly.
It is also important for organisations to ensure that their employees are all well utilised and offered enough opportunities to grow, learn new skills and make their contributions to innovation.
Structured upskilling programmes with mentorship, and an internal innovation lab are ideal for innovation.
Remember, companies that prioritise innovation see 2.7 times more readiness to innovate than those where it’s an afterthought says the report.
