HR, as the manager of the workforce in the company, has a big responsibility to manage. Therefore, to keep up with the changing time, it is essential to upgrade the game with HR innovation for implementing amazing and innovative ideas, new ways, and efficient technologies to meet the organization's upcoming requirements. It's about anticipating future requirements and circumstances instead of simply finding a response to a current changing situation.
From hiring the new and best employees efficiently, keeping them on the job enthusiastically, training them strategically for various purposes, and engaging all the hired employees thoughtfully, there are too many opportunities to stand out with creative HR innovation.
Therefore, to help you with it, we have covered some fresh, innovative ideas -
1. Want to Keep your best employees? Offer Them Cash to Quit.
If you want to keep your best employees, use the 'offer them cash to quit.' When it comes to hiring and firing, there is a non-written rule that most companies follow, which is to hire quickly and fire slowly. Cash to quit is a unique idea that ensures only those employees who actually want to stay, remain with the company.
Creating a positive and healthy work environment allows you to develop a great work environment for employee satisfaction.
2. Develop Mentorship Programs to Engage Employees
The Deloitte Millennial Survey 2016 stated that the millennials who plan to perform the job for more than five years at a company are two times more likely to have a mentor. Having someone as your mentor is a good innovation culture. This innovation framework is better for understanding the business environment.
You can do this by training the snippets and showing (not only telling) your employees what good work looks like and how it should be.
3. Welcome New Hires With High-Fives
As per the Academy of Management Journal study, when people start a new job, they have a higher level of potential and support; they're more positive and more productive. The amazing idea is to greet the newcomers on their first day at the office so that it feels home for them. This proves to be really useful when it comes to entrepreneurship.
4. Increase Retention With Company-Sponsored Personal Development
Heavy Salary, bonuses, accessible transportation services, and various insurance benefits are just a few of the items in a classic package. But things are changing, as modern companies have developed new and creative ways of attracting top talent. Part of this includes promoting health and well-being by offering better work-life balance and stress-reducing activities, for example by including free company gym sessions, etc.
This gives employees a sense of belongingness and being valued in the company.
5. Create Feedback & Evaluations to Help Your Employees
Forget about previous outdated 360-degree feedback systems. Hoping to improve a company's standards simply by supplying anonymous feedback on a leader's shortcomings without any detailed info won't work anymore. When providing feedback, make sure that it must be Specific, Measurable, Actionable, Relevant, and Timely.
This helps in understanding the loopholes and filling the gaps.
Worldwide, business executives say that almost 40 percent of innovations have positively impacted their business's progress over the last five years. To boost innovation, some firms encourage employees; for instance, 44% revealed that they give incentives for innovative ideas, 43% support for the external workshops and training, 42% organize hackathon events, and 60% of responders believe that internal employees are most likely to deliver better innovation ideas. Another survey by Corporate Innovation Imperative states that companies face too many challenges when building the innovation culture internally.
The data clearly underlines that the best innovation strategies for employees will help to quickly adapt to changes to support innovation culture. With a similar perspective, many institutions are offering courses to promoteinnovation, and MIT ID Innovation is one such elite educational institution known to offer excellence in knowledge and exposure for students. So, if quality and excellence are your ambitions, MIT ID Innovation is the decision you should make.