Innovation is the key to growth and profits. But, it doesn’t happen in isolation, in a lab or in the executive suite. It comes from the people who interact with your customers and fend off your competition every day.
In other words, your employees.
This is why the employee engagement epidemic is so dire, not only for company growth, but survival. 87% of employees worldwide are disengaged or indifferent at work, reports Gallup, one of the leading organizations that measure employee engagement globally. In the US alone, active disengagement costs companies $450-$550 billion a year. And that is minor compared to the organizations that die because of their inability to ignite employee-driven innovation.
There is hope. Employees intrinsically want to make an impact. Employees hold all the information and experience to explore new markets, create new solutions, and innovate from within, but it is up to leaders to unearth the creative and lucrative potential of their talent. Read more for the four keys.