Many companies want to establish a culture of innovation – one that will encourage flexibility, creativity and support risk-taking. The benefit? Breakthrough products, a superior customer experience and an agile response to market challenges. The most effective innovation strategies focus on people and talent management practices, placing HR in a unique position to enhance (or hinder) innovative behaviours and practices within an organization. Trust, inclusiveness, willingness to take risks and established processes to commercialise ideas, are all necessary for innovation to thrive.
But what is happening in organizations today, and what is HR’s role in not only supporting, but also driving, a culture of innovation? The PageUp Global HR Innovation Study, conducted in conjunction with Alexander Mann Solutions, investigated:
- where companies are placed on their journey to creating a culture of innovation;
- the effectiveness of current talent management practices in driving and supporting innovation;
- how prepared HR is to meet the future talent needs of the business.
We uncovered seven big-picture trends that are shaping the adoption of an innovative mindset in organizations today. In this report, we explore the challenges organizations are facing in establishing a culture of innovation, and the current effectiveness of HR in driving enterprise-wide innovation. We also discuss some of the shortfalls being faced in this area and provide practical advice for how HR can close the gaps.