A Randstad report from 2018 states that 69% of the employees feel that their capabilities are not utilized fully by their employers. 58% agree that lack of growth is their reason for quitting the job.
These are telling facts that demonstrate the lack of innovative thinking from the leaders. And if the employees don’t get the platform to innovate, it’ll nurture a state of frustration in individuals and later within teams.
Lack of innovation is one of the obvious pain points for corporates world over and needs to be addressed in earnest.
Innovative people or organizations explore new ideas and use them to address their unfulfilled requirements. In simple words, it is the process of converting capital into knowledge.
But why innovation is suddenly such a big deal?
The urge to improve on what exists is a basic human instinct. Innovation is at the core of progress and development on any given level. In the corporate world, businesses that do not start innovations are due to face hardships of being left behind. There is an additional danger of losing out to the competitors. Moreover, this reflects on the performance of teams & department and eventually on the individual level. These individuals feel that their organization is not giving them enough to be innovative. They are compelled to switch jobs.
For leaders, it is important to gain further insight into the lack of innovation.
Lack of innovation is also lack of vision
You heard that right. Leaders often live with a self-belief that they are innovative. But the action is missing. It takes a huge effort to convert theories into action. Eventually, it is agreed that leaders lacking a futuristic vision are likely to fail when it comes to innovation.
New businesses are often on the high of growth. They are regularly engaged in innovative practices. But once the initial success is achieved the focus can quickly divert to mere sustenance or other logistics. Short-term innovative practices are likely to face stagnation in the long run.
Teams and individuals are eager to come to work and create values. No sooner the innovation goes missing, everyone involved begins to lose interest in affairs. Innovation that is the nectar for enthusiasm and engagement may suddenly vanish or barely exists.
Lack of technology
All businesses today are technology-centric. The smart workplace is where people think of innovative ideas and push them across for evaluation. Smart apps, futuristic technologies, and innovative platforms are persistently used by smart leaders.
So what boosts innovation
Various tools & technologies can be conjoined with an open mindset to drive innovation. It’s that win-win strategy that corporates are keen to adapt. Implementing good technologies to achieve innovations seems to be the mantra of 2019 and 2020.
How technology helps innovation
Technology is that easy-to-adapt platform where most of us are comfortable. Smart leaders help employees by offering them smart workplace and throw-in practices aimed towards innovation. Take the example of Zinbucks - an engagement app - rewarding employees to push their innovating ideas out in the open. Since its introduction, companies have been able to engage their people and boost innovative ideas across all departments.
We can conclude that employee engagement, promoting rational thinking, rewarding innovation, and Intrapreneurship are just a few of the steps that must be strategically implemented across the floor.