Here’s what I know: innovation is vital for business growth

  • Business Advice
employees sat together having a meeting
Peter Done

Peter Done, Group Managing Director and Founder

(Last updated )

Innovation prevents stagnation in your business.

And for the sake of growth, your employees should feel like they have the power to bring new ideas to the table.

A company must always adapt and change for the better in order to be successful, and it can only do that through innovation. And while we’ll never know everything, we can certainly learn from our mistakes and experiment with new approaches to help us get one step closer to that winning formula.

So, how do we get innovation? Well, it starts with a suggestion. A good idea at the right time.

But even if you’re working with a not so good idea or a great idea at the wrong time, it’s still important to acknowledge and celebrate all ideas that pop up in meetings and general chats. Every contribution to your business is valuable and when you reward and praise your employee’s contribution, you’re likely to get more.

Your employees are your greatest asset and when you give them the tools to build their confidence and autonomy, your business will be a force to reckon with.

Offering incentives can help to encourage innovation. For example, having an employee of the month or bonus scheme can motivate employees to take ownership of their ideas and think outside the box. Incentives like this stir up a bit of friendly competition. They can drive staff to work hard and stay versatile in order to satisfy their goals.

Maintaining a diverse workforce full of differing personalities will also help.

It’s great to have a range of employees with different skillsets and perspectives, who can work together to bring an idea to fruition. Teamwork makes the dream work after all.

It’s all about staying proactive. There is no right or wrong when it comes to trying a new approach. It might be that you try something, and it doesn’t work. That’s okay. Sometimes, workplaces can develop a toxic positivity culture where staff are too scared to address what ‘doesn’t work’ out of fear that leaders will punish them for it.

Businesses should continually challenge the status quo and have those difficult conversations, even if it doesn’t feel comfortable. A comfort zone is where innovation goes to die.

Change starts with a conversation.

And to learn expert tips for transforming your business and building confidence in your staff, don’t hesitate to get in touch for advice from our HR industry leaders.

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