Ideas to Action: 4 Keys to Employee-driven Innovation

Copyright © 2015 48Innovate

K. Melissa Kennedy | Chief Innovation Officer

Ideas to Action:4 Keys to Igniting

Employee-driven Innovation


K. Melissa Kennedy *Intrapreneur turned Entrepreneur

“Life begins on the edge of your comfort zone”

*Global Innovation Facilitator2 Large Institutions

4 startups - 2 ThrivingInnovator, Pioneer, Doer

@kmelissakennedy


Agenda

▪ Why Innovate?

▪ Trends Driving Innovation

▪ 3 Types of Innovation

▪ Sources of Innovation

▪ Barriers to Innovation

▪ 4 Keys to Employee Driven Innovation


Innovation = Growth & Profits


Trends Driving Innovation: Disruption

- Consumer “experience” expectations



- Globalization



- Accessibility to information & people



- Complex competitive landscape – Entrance of “Frenemy”



- Pace of change- Technology



- Startup Revolution – New business models and low cost of entry


3 Types of Innovation

▪ Incremental innovations ▪ Breakthrough innovations ▪ Radical innovations


Sources of Innovation: Buy vs Build

▪ Consultants/Agencies

▪ Startups or smaller companies

▪ Partners

▪ R&D

▪ Internal accelerators or incubators

▪ Employees


Why Employees are Key to Innovation?

▪ Interact with customers every day

▪ Fend off competitors every day

▪ Immersed in your culture


Top Barriers to Employee-driven Innovation – Disengagement Dilemma

87% of employees are disengaged or indifferent at work according to Gallup.

Active disengagement costs $450-$550B every year in the US alone.


Top Barriers to Employee-driven Innovation

70-90% projects fail due to lack of action after brainstorming session

Legacy Inertia - What we are already doing is still working

No process to nurture innovation -- access to internal decision makers, resources, focus

Sources: Harvard Business Review & Forbes:

https://hbr.org/2012/11/acceleratehttp://www.forbes.com/sites/georgedeeb/2014/01/08/the-five-reasons-big-companies-struggle-with-innovation/2/https://hbr.org/2012/07/ten-ways-to-inhibit-innovation/https://hbr.org/2013/07/six-ways-to-sink-a-growth-initiative/ar/1

https://hbr.org/2012/11/accelerate

http://www.forbes.com/sites/georgedeeb/2014/01/08/the-five-reasons-big-companies-struggle-with-innovation/2/

https://hbr.org/2012/07/ten-ways-to-inhibit-innovation/


Igniting Employee-Driven Innovation

4 Keys to Success


#4 KeyIgniting Employee-driven Innovation

Ditch the consultant

Hiring consultants destroys employee confidence

Impedes universal buy-in Potential culture clash Co-creation accelerates

adoption



Create Space

Designate time beyond the “Day Job”

Focus on the pursuit of innovation



Institute a Consistent Process

How to present an innovative idea?

To who? What is the success criteria? Timeline for review and decision Follow up and execution Create a consistent schedule of

accepting these ideas or projects



Execute and Promote Success

Execute vetted ideas and projects

Calculate ROI Promote the Outcome

& Impact Reward Employees Repeat


Innovation = Growth & Profits


How 48 InnovateIgnites Employee Driven Innovation


▪ 20-40 Flash ideas*▪ 5-7 Business case solutions with

data, budget and action plan*▪ Solution summary and mini project

plan▪ 30, 60, 90-day, 1 hour follow-up to

ensure success and hold the team accountable to action

▪ Exclusive access to “The Weekly Zing” --daily innovation exercises throughout the 90-day follow-up period for all participants

Process Outcomes & Follow Up

*Actual number of ideas and presentations depends on number of participants in the event. Typically there are 30-50 participants per event.


Ideas to Action:4 Keys to Igniting

Employee-driven Innovation

#4: Ditch the Consultant

#3: Create Space

#2: Institute a Consistent Process

#1: Execute & Promote

Ideas to Action: 4 Keys to Employee-driven Innovation

Business

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