GUEST POST from Stefan Lindegaard
As businesses continue to face unprecedented change and uncertainty, innovation is no longer optional – it’s a must-have for companies looking to survive and thrive. However, finding and developing the right people to drive corporate innovation can be challenging.
In this newsletter, we’ll explore five key ideas for hiring and developing individuals capable of leading corporate transformation and innovation forward, in a world where staying ahead of the curve is essential.
Future Potential vs. Past Competencies:
In the past, companies often hired innovators based on past competencies and results. However, the future of hiring will shift towards potential as a key criterion. Past success in other organizations is no guarantee of success in your own, and companies must adapt their hiring practices to focus on individuals who have shown a proven potential for constant learning, growth, and adaptability. Look for people who are capable of dealing well with ambiguity, adapting quickly to changing circumstances, and who possess the potential to succeed in your organization.
Knowing the Direction of Adaptation:
Organizations and talent alike must know the direction in which they need to adapt. However, it can be challenging to maintain an overview of the internal and external factors and trends impacting innovation efforts and capabilities. To tackle this issue, companies must experiment and develop ways to gauge and maintain an overview and/or direction.
For companies with a strong tradition of relying solely on the knowledge of internal R&D experts, it may require broader tracking of emerging trends, as well as reaching beyond R&D to other parts of the company for ideas on other ways to innovate. Consider all the areas where innovation can occur, including in business models, channels, and customer engagement, to name a few.
The Importance of Community Building:
Innovation is increasingly happening in ecosystems and communities, both internally and externally. Future innovation leaders must be able to create shared purpose, values, and rules of engagement to foster innovation within these communities. To build a successful community, strong networking and communication skills, as well as the ability to inspire people, are essential.
Companies should foster a culture of collaboration, encourage participation from diverse backgrounds and perspectives, and recognize and reward innovation efforts.
Creating the Right Conditions and Frameworks:
To make innovation work in big companies, it’s essential to create the right conditions and frameworks. This means allowing talent to experiment and explore new ideas freely, but also providing the resources, time, and support needed to make innovation efforts successful. Companies must be prepared to take risks and try new approaches, and foster a culture that encourages diversity of thought and collaboration. In addition, creating an inclusive culture that values diversity and recognizes the importance of different types of intelligence can also be beneficial for driving innovation forward.
The Importance of Multiple Intelligences:
Innovation requires a diverse range of skills, not just technical or product expertise. Future innovators must have a broad range of skills and experiences, including creativity, customer-centric thinking, and collaboration skills. Companies should consider different types of intelligence when hiring and developing innovation talent, such as emotional intelligence, social intelligence, and cultural intelligence. By valuing multiple intelligences and creating a culture that encourages diverse perspectives, companies can ensure they have the talent they need to drive innovation forward.
As the business landscape continues to evolve at a breakneck pace, innovation will be the key to survival for many companies. However, innovation is only possible with the right people in place. By shifting the focus from past competencies to future potential, tracking emerging trends and adapting accordingly, building strong communities, creating the right frameworks, and considering multiple types of intelligence, companies can hire and develop the right people for the job. Hiring full teams can also help foster innovation and bring about change faster.
By keeping these ideas in mind, companies can ensure that they have the talent they need to thrive in today’s fast-paced business environment.
Image Credit: Pixabay
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I was reading with interest some of Linkedin’s recent #HowIHire series and in doing so it was interesting to see how many people are still operating under the old, broken hiring paradigm when it comes to the labor market.
I’ve been thinking a lot lately about personal branding, in part because several people have told me that I seem to do it pretty well, in spite of the fact that I would never call myself a personal branding expert or endeavor to make my living as a personal branding consultant.
The old way of winning the talent wars was to search for and hire the very best talent and keep them inside your own four walls by offering them competitive compensation, benefits, and perks. Your hope was that your talent is better than your competitors’ talent. But over the last couple of decades, companies have increasingly found that employees who pursue what they do with passion will outperform an employee with a gun to their head every time. Circuit City learned very publicly that people are not commodities and went out of business from treating them as if they were. At the same time, we know that diversity is very important and hard to foster internally. And so it is to get to this diversity of thought in order to accelerate product launch and innovation timelines that companies must open up – it is a global economy with a global talent pool.
When looking for a new job, it seems like 95% of the time people will only hire you to do the job you just did, and the other 5% of the time will provide an equal mix of once in a lifetime opportunities and jobs you shouldn’t take.
For example, a restaurant will hire a waiter who has been a waiter before, even if the only reason he is available is that he was a crap waiter every other place he worked. In our hiring system, someone who has experience almost always gets the job, regardless of ability and capacity for growth. Meanwhile the gal who dreams of being a waitress, whose passion for the profession would make her an amazing waitress as she strives to create the perfect customer experience, never gets hired. Where does this leave the person with amazing potential but no direct experience in the position they seek?
Usually this person is doomed to remain an unhappy accountant, potentially seeking an MBA that may or may not successfully allow them to transition over to the world of marketing.