In today’s world, it is people within a company that add the value. Whereas in the past, companies were built around their superior production and manufacturing, now everything depends on people. Ideas come from those people within the company, and that is what drives a company forward.
It is up to the company to empower people at all levels. Ideas can come from anyone, in any position within the organization. The best ideas need to have a way or working through the system and implemented quickly. So the question becomes, how do you reward this type of innovation so that you can encourage your employees to continue to create?
Many companies are trying out new ways of compensation and rewards to help their employees feel like they are valued. A yearly salary used to be all it took, because it made people feel comfortable and secure. But today, that will not work because it will not lead to real growth and development. More direct encouragement is needed to give people a reason to think outside the box. Reward those people that bring the best ideas forward, and let it be known throughout the company that this is how you do business.
In an age where personal branding is just as important as a company’s branding, a little recognition can go a long way. Think about how much more likely it is for someone to come forward with a revolutionary idea if they know they will be given full credit. This will limit turnover, encourage personal and professional development, and lead to a more fulfilling employee/employer relationship.
Ideas must be cultivated. The people with those ideas must be advanced. And systems need to be implemented to allow this to happen seamlessly within an organization. The companies that do this will not only cultivate a better corporate culture, they will draw the best young talent to continue to move the organization forward.