7 Powerful Results Of Nurturing Innovation

Leadership in times of crisis is
a widely discussed topic today.
Although there is no handy manual
out there that can guide a leader
through a crisis, the way a leader
leads the team during a crisis will
brand them as a good leader or a
poor one. A leader who paves the
way or encourages others in the
organization to think differently and
work in new ways to face challenges
is the need of the hour. Are you a
leader who fosters innovation?
The most common misconception
about innovation is that it’s only for
the chosen few. However, the truth is
that you will miss out on the valuable
talents and contributions of your
team if you don’t involve everyone
in the organization—from CEO to
entry-level admin. Not only should
every person in your organization
play a part in the innovation process,
but every industry and every
company can benefit from innovation,
especially right now. What are some
of the benefits of nurturing innovation
in your organization? To learn about
that and more, read Dr. Evans Baiya’s
article, 7 Powerful Results Of Nurturing
Innovation that focuses on how/
why collective brain power of every
employee is a great tool and one you
have right at your fingertips.
On the same lines, Laura Dribin’s
article, Productivity During Covid-19 –
At What Cost? talks about how valuing
productivity over innovation may turn
into a short-sighted strategy. How do
you nurture that innovation now given
we don’t know how much longer this
crisis will last? Read Laura’s article
for some great ideas.
The realities leaders face today
demand a new approach to
leadership. Covid-19, the economic
collapse, and even climate change
pose real and serious threats to the
workforce and organizations. The
old way of doing things, commandand-control, has failed to meet
these threats. It’s time for the 4th
Evolution of Leadership to emerge—
Collaborative Leadership. But what
is collaborative leadership, and who
is likely to become one, even in these
critical times? Read Dr. Edward
M. Marshall’s article, Leaders Who
Want To Become Collaborative, for
more insights.
In my work, I hear a lot of reasons why people don’t
engage in innovation: “That’s not part of my job
description.” “I’m not an idea person.” “Innovation
doesn’t really apply to my industry.” “We don’t need
innovation right now. Our company is doing just fine.”
“Our workforce is already well trained.” “The CEO is
the one who comes up with new ideas.”
The most common misconception about innovation
is that it’s only for the chosen few—the chosen few
decision makers, the chosen few departments, the
7 Powerful Results Of
Nurturing Innovation
By Dr. Evans Baiya
The collective brain power of every employee is a
great tool and one you have right at your fingertips
COVER ARTICLE
chosen few industries, the chosen few gurus, experts,
and technical folks. This couldn’t be farther from the
truth. Throughout the six stages of innovation, there
is a place for everyone. In fact, you will miss out on
the valuable talents and contributions of your team if
you don’t involve everyone in the organization—from
CEO to entry-level admin.
Not only should every person in your organization
play a part in the innovation process, but every
industry and every company can benefit from
Leadership Excellence presented by HR.com NOVEMBER 2020 7 Submit Your Articles
7 Powerful Results Of Nurturing Innovation
innovation, especially right now. There is so much
more to innovation than simply coming up with
new products or services. The remunerations of an
innovative culture are far-reaching. When you make
innovation an integral focus, your organization will
make great strides and see significant positive
change.
Here are some of the benefits of nurturing innovation
in your organization:
Increased Employee Engagement
We all want our employees and colleagues to
contribute to value creation for the organization and
the community of clients we serve. When all of your
employees have their ideas and thoughts heard,
and when you engage them to collectively solve a
problem or capitalize on an opportunity, you have
just validated their role and their importance in your
organization. People who feel and are in fact valued
and heard will actively engage to make your company
better, to increase customer service, and to improve
results. When decisions and ideas are not limited
to just coming from the top, but instead come from
all levels of your employees, who are closest to the
situation and closest to your customers, extensive
ownership and accountability to value creation will
increase significantly.
Enhanced Teamwork
The six stages of innovation require different talents
and people at each stage. Because of this, innovation
projects will naturally involve a diverse cross-section
of employees, forming new and dynamic teams.
When you give your employees the opportunity to
work with different colleagues during the stages,
they will start to develop relationships and form new
connections, fortifying your organization. One of
our clients had employees in various departments
and locations across the country who hadn’t had
the chance to work together, let alone meet. After
working on an innovation project together, many
remarked how grateful they were to have formed
relationships and that even after the innovation
project was over, they continued to collaborate to
share best practices and make positive changes
in the company. Innovation gives departments and
teams a meaningful way to connect around small and
sometimes large shared objectives.
Improved Processes
Innovative thinking naturally leads to improved
processes as employees dig deep to discover better
or more efficient ways to do things—saving money
and often illuminating wasted time or the duplication
of efforts. When you ask employees to innovate a
Leadership Excellence presented by HR.com NOVEMBER 2020 8 Submit Your Articles
process, whether it’s internal or one that involves
your customers directly, they will be able to uncover
ideas and timely microsolutions that make a big
difference. One of our clients, while attempting
to improve one of its customer service process,
uncovered nearly $250,000 in waste and duplicated
services, just by taking the time to look at all the
factors involved in that process. It was a great win,
not only for the team involved in this innovation
project, but for the company as a whole.
New Products and Services
New products are probably what people think about
most when they think about innovation because
new products are the natural result of solving a
problem or capitalizing on an opportunity. The
most impactful aspect of having everyone in your
organization participate in the innovation process is
that you will get far greater and deeper ideas using
the collective brain power of your team than you will,
utilizing only a select few people. Your employees
are seeing the problem or opportunity through their
own unique lens, which gives the ideas of diversity
and creativity. You would be surprised at the number
of great ideas you can elicit, and how refined and
high-quality those product ideas can become once
they are vetted, combined or applied.
New Processes
Another natural result of innovative thinking is new
or updated processes. When you enlist the help of
your team in the innovation process, you will be able
to realize and recognize opportunities you may not
know even existed. Your team is perfectly aligned to
help you come up with better methods to serve and
take care of your clients. After all, your employees
are on the front lines; they are the ones who are
interacting with your clients most frequently and
see the day-to-day needs as they arise. They are
well-positioned to come up with better avenues to
provide your products and services.
New Ways of Thinking
One of the most powerful outcomes of innovation
is how it shifts paradigms and inspires new ways
of thinking. The more you prioritize innovation, the
more innovative your company will become—it is
Dr. Evans Baiya is an internationally recognized and trusted guide
to business leaders and innovators.
Using his 6-stage process, he helps
companies identify, define, develop,
verify, commercialize, and scale their
ideas. He is the co-author of the
award-winning book, The Innovator’s
Advantage and co-creator of The
Innovator’s Advantage Academy™,
a detailed step-by-step innovation
training experience.

Source: https://www.hr.com/en/magazines/leadership_excellence_essentials/november_2020_leadership/#ArticleList

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