Workers are essential to innovation and success. According to the London School of Economics (LSE), they’re a source of ideas for new products, new services, new approaches to work, and new business models.1
Worker-led innovation must be nurtured by organizations. It requires a workplace environment that frees people to do more than they’re being paid to do. The LSE report suggested workers need:
•Innovation time: Give time for creative thought
•Broad roles: Help employees see the bigger picture and make connections
•Competitions and contests: Stimulate action and innovation
•Open communication: Encourage collaboration and influence direction
How important is it to foster a creative environment at work? A 2014 Forrester study found, “…companies that embrace creativity outperform peers and competitors on key business performance indicators including revenue growth, market share, and talent acquisition.”2
We believe our clients are a force for change and innovation, too. If you have suggestions, please give us a call. We’re always interested in what you think.
This material was prepared by Peak Advisor Alliance. Peak Advisor Alliance is not affiliated with the named broker/dealer.