Without fostering innovation, you risk losing out on new ideas and business opportunities.

In today’s competitive business environment, it’s important to have a culture of innovation that encourages the growth and development of both your company and your staff. Without fostering innovation, you risk losing out on new ideas and business opportunities. Cultivating a culture of innovation leads to a healthy workplace culture where employees feel valued and encouraged to grow professionally.

WHAT IS CULTURE OF INNOVATION?

Innovation is about creatively finding problems, ones that no one has even thought to challenge or develop. This process starts with a leader who believes in challenging convention and reaching outside of their comfort zone; they must take ownership and acknowledge that new problems are needed. By nurturing an environment that encourages employees’ insights and observations, companies can foster an atmosphere where innovative ideas are created and celebrated.

IMPORTANCE

Complacency and redundancy lead to stagnation. If a company lacks innovative ideas, there won’t be growth or progress. Ultimately this leads to decreased revenue and the potential decline and closure of the business. By allowing employees to explore their creativity in problem finding, endless opportunities are generated propelling business forward. In addition, developing and maintaining a solid culture of innovation will enhance the idea-pool. By getting the right people working together on a team, brainstorming sessions become hubs of innovation, producing solutions that may never have evolved had the company suppressed employee involvement. It is vital to foster a culture of innovation; it empowers employees and provides ownership and value to company goals. Research shows that businesses led by executives who value innovation outperform others by 50% or more.

implement innovation

HOW DO I IMPLEMENT A CULTURE OF INNOVATION?

1.  Find the right people

Leaders drive people. People drive culture. Culture drives change, big change. It is imperative to involve the right employees in problem finding and problem definition. Have a problem with human resources? Make sure an employee that represents human resources is part of the team tackling the problem. Including a diverse group of people shows confidence and trust in employee competence.

2. Values consistent with goals

What your business believes and advocates defines its culture. What are your company’s core values? Does every employee know what they are? Do you reflect those values in daily decisions?

3. Trust

Without trust, employees won’t feel comfortable taking risks or making suggestions. Inquire about their lives outside of work, acknowledge their work ethic, and be genuinely interested in them as an individual. Show that you appreciate their efforts, never micromanage, and if they have good ideas, listen. Develop a relationship where employees feel like a valued member of the team.

4. Decision Making

Look for opportunities that need improvement and ask yourself if the current methods are effective. As often as possible, look for ways to involve others to broaden the scope of finding and making the best decision possible. Don’t be afraid to receive input, weigh the options, and decide to take action.

5. Embrace Risk-taking

One way that organizations foster a culture of innovation is by encouraging their teams to take risks; this starts with the leader. Innovation flourishes when employees are free to make suggestions no matter the plausibility.

6. Communication

Communicate as much information as possible as often as possible. When employees are clear on expectations, everyone is better able to fulfill their role. Use ongoing training to ensure understanding of company policies and procedures. Allow employees to voice questions or concerns so these issues can be addressed.

The definition of culture is malleable based on where and how it is presented. No matter the organization, an innovative culture is difficult to develop and maintain. In order to foster an innovative mindset, companies must have a culture that is supportive, clearly defined, and consistently implemented. When employees feel included in organizational development, a culture of innovation is more easily created and sustained.