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Want innovation? 5 steps to invest in and empower employees

- Max Farrell is the co-founder of Create Reason, an innovation experience firm that instills a culture of intrapreneurship inside established companies.

There’s a great office argument that I’m sure many of you have come across: Investing-in-employees

CEO - “Why are we spending all this money on training if people will likely leave?”

VP - “Because what if we don’t train them and they stay?”

It’s a new era in our working world. The average employee only stays 4.5 years now. For millennials it’s 18 month to 36 months on average. Permanent employment is dead.

This same dilemma applies when tackling new, unexplored initiatives and products for organizations. 

What if we don’t give ourselves time to think or a chance to venture into unexplored areas?

The hard truth is that in 2015, markets and customer demands evolve faster than we can high five over our recently polished products.

And this isn’t just true for businesses, this is true for nonprofits too.

Many of us are volunteers or board members for some fantastic nonprofits, but even they have to keep on their toes as donor dollars can rapidly shift to new organizations.

So here’s the big question:

What are you doing today so your company will thrive in five years, let alone one year?

Many companies will quickly retort — “we’ve got a brilliant strategy”.

But the world changes faster than we’re comfortable with.

How can you set a strategy for the next five years if your team doesn’t have the tools to innovate today?

The biggest decisions and the brilliant concepts will not always come from the top, which is why I think now is one of the most exciting times to be an employee within an established company.

Talented individuals have the opportunity to be the intrapreneurs (internal entrepreneurs) and the change agents that steer great companies to stay great. 

How can you make it happen?

1. Get senior leaders to “give permission” for staff to bring ideas to life. You can never underestimate the power of simply sharing the notion that you need support to help the company thrive.

2. Showcase that senior leaders believe the initiative is important. It’s one thing to say innovation is important, but we have to show that it’s a key company initiative. This can be in the form of internal idea pitch competitions, continued mention in company communication or innovation events. Ripples turn to waves.

3. Have a process to facilitate bringing new ideas to life. Brainstorming sessions aren’t the solution, but they’re a start. There need to be steps for what to do with good ideas and a process to kill bad ideas.

4. Make sure to bring at least one new initiative to life with this focus. The excitement for innovation can die quickly if no results come to life.

5. Celebrate like crazy! Instilling a culture of innovation requires continuous reinforcement of the initiatives. Boasting wins is a great way to do this.

To close:

I really like an article from Patrick Kalaher of Frog Design for his take on the future of work:

“Forward-thinking businesses must hire for flexibility and then provide tools that enable their employees to act in a variety of contexts.”

We’ve got awesome opportunities in front of us to rethink work. It’s gonna be a fun ride.

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Let's keep the conversation going: 

Max startupEmail: max@createreason.com

Twitter: @MaxOnTheTrack / @CreateReason

Web: CreateReason.com

FB: facebook.com/createreason

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