According to a survey by PwC’s innovation benchmark, 61% of the respondents of the survey embraced open innovation for the generation of new ideas at the workplace. The statistics clearly underline the significance of innovation for employees; afterall, employees are the true treasure of a company.
Innovation fuels the employees to be more competitive and increases their efficiency in the dynamic business environment. With efficient use of all resources and opening doors for innovation at the workplace boosts the employees' morale and design thinking process. Everyone likes a little innovation and challenge in their working regime. Thus, innovation in entrepreneurship gives each employee new challenges every day, thus keeping them engaged.
There are several ways to improve employee innovation. Some of these ways are:
- Innovation culture must be encouraged.
It is often said that not doing anything is way worse than trying and doing something wrong. In a company, such an environment should be built that it encourages the original design thinking process of its employees.
This kind of environment will boost the employees to think of more creative ideas. This culture could be adopted by sharing ideas, being honest and open, and explore certain initiatives.
- Hire people who hold contrasting opinions
In a company of like-minded people, even the unjustified things seem validated, and groupthink is likely to occur. If we hire people that have contrasting opinions, a true picture might be formed. Also, it boosts the innovation process as it gets refined with the thoughts of people who have differing mindsets.
Innovation in entrepreneurship can bring people with a problem-solving approach and a different set of skills under one roof.
- Employees should be rewarded.
Adopting a practice for rewarding employees that displays innovative skills and not punishing those who share ideas that are not successful is likely to boost other employees’ morale. This practice is likely to imbibe innovation in employees as they could freely express their ideas.
- Hold workshops and training.
Innovation could truly be encouraged if the skills and psychological competencies of employees are improved. Thus, different workshops and training sessions could be held for employees who encourage them to be innovative and present and implement those ideas.
- Dialogue culture should be fostered.
An innovative culture that encourages open dialogue and sharing of ideas should be foster. With a non-hierarchical approach in the company, even those at lower posts could share ideas that might benefit the company as a whole. Thus, the more people involved in the innovation process better will be the results.
The above-mentioned ways can help in opening doors for innovation at the workplace. Not many understand the essence of innovation in business. Therefore, the following are the benefits of innovation in a company:
- Innovation increases competitiveness in employees that yields better results.
- Innovation results inefficient use of resources by employees.
- It helps in retaining employees as people like to work in innovative jobs.
- It leads to adopting proactive thinking by employees.
- It helps an employee earn visibility and recognition in his company.
It is evident now that innovation is extremely important to run an organization in this highly-competitive world. If we do not adopt technology, we will not be adopted by our customers.
Where there is innovation, an innovative institute becomes even more important to boost the conventional industries. An ideal institute is extremely important to build a career for the students. MIT ID Innovation is one such institution that has a curriculum specially designed to tickle innovative cells of students. Thus, to achieve the best, MIT ID Innovation is the best.