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Enzumo are Australia's largest and most experienced financial services advisory and implementation group. With a team of more than 30 specialists, we help large corporates, dealer groups and financial planners harness the power of technology more effectively.

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Creating an Innovative Culture

Creating an Innovative Culture

CEO of The Walt Disney Company, Bob Iger stated that “The heart and soul of the company is creativity and innovation”. In today’s world staying ahead of the curb is vital for not only being successful but sustaining that success as well. But how do we balance an environment that is often heavily automated for employees and still creating a culture of innovation?

Aside from random ideas on post it notes (that never seem to get anywhere), an innovative culture is about embracing change and encouraging workers to question the way things are currently done to change and improve. Often we find creativity strikes us at the oddest times, and the question is how do we channel this into everyday work?

Here are a couple of tips to help you get started in cultivating innovation in your workplace:

  • Have a strategy – a lot of businesses want to innovate but the leadership team has no clear strategy around innovation. This might seem counter intuitive, as creativity is often referred to as an ‘in the moment’ thing that ‘can’t be planned’. Think again, give your team a simple guide to the types of innovative ideas that the company would be willing to invest in and are relevant to your business. Avoiding wasted efforts and time for all parties.
  • Accept that change has to happen – often one of the first steps involved is accepting that the business’s culture may need to change so that it encourages, rather than resists innovation. Identify how the existing mindset within the organisation needs to change so that innovation becomes an integral way of doing things. Be prepared for those who don’t like to change to have some strong emotions; however your plan should tackle some ways to tackle this resistance.
  • Encourage everyone to be innovative – often when businesses push innovation agendas, they focus only on product development. Meaning that employees outside of this are left to become stagnant. Make sure that innovation is inspired to all employees, questioning what they do and how they could do it better fosters innovation within any and every role.
  • Try to streamline the barriers – often lack of innovation is due to the fact that to get new ideas approved team members have to jump through numerous hoops to get it over the line. Ask yourself how can you streamline your approval process and can you cut out any barriers? Make sure you are open to new ideas from the team and encourage these without judgement (this is important).
  • Invest in training – your team will be more likely to take on innovative initiatives if they have a toolkit of techniques and skills that enable them to problem solve creatively.  Invest in some workshops and get your team to sign up to blogs, there are many low cost ways you can cultivate this idea.
  • Embrace failure – many of the greatest innovations were unintended results and often created by accident. It’s ok to fail and learn. If you aren’t failing then you aren’t trying!

Opening up to innovation is the way of the future for most businesses, to have a competitive edge, to do things differently and meeting the needs of client. An innovative culture begins with the organizational attitude of accepting that the world really has changed, and cultivating a mindset to learn to see the world in new ways.

How does your business cultivate innovation? Do you find it hard to change mindsets in your team? We would love to hear from you! Reach out to us at hello@enzumo.com

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innovation, finance, business

Categories

Operations, Innovation, Education

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