Innovation And Employee Engagement

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Innovation And Employee Engagement - Presentation Transcript

  1. Talent Management, Employee Engagement and Innovation HR’s seat at the table April 15, 2008
  2. Welcome
    • Our goal for the next hour is to examine the important role that HR can play in innovation:
      • Talent Management
      • Employee Engagement
      • Evaluation, compensation and motivation
    • And how an innovation initiative creates benefits that are important to HR
  3. Audience
    • You are primarily Human Resource executives in Fortune 500 firms, who are also actively using or considering the Authoria suite of products
    • You are vital to the success of your firm in areas like recruitment, talent management, retention and employee engagement
  4. About OVO
    • OVO is a consulting and software development firm helping our clients build sustainable innovation capabilities.
    • We work primarily with large, distributed organizations that seek to make innovation a consistent, repeatable capability
    • Our clients include many large Fortune 500 firms
  5. OVO Capabilities
    • We help firms Innovate on Purpose™ by defining strategic goals and implementing consistent processes
    • Our capabilities include:
      • Facilitated Ideation
      • Innovation Process definition
      • Definition of roles and responsibilities
      • Assisting with culture, communication
      • Defining innovation metrics
  6.  
  7. Hello My Name is Jeffrey Phillips
  8. About Me
    • Jeffrey Phillips
      • One of the lead consultants from OVO
      • Active in a number of innovation projects for Fortune 500 firms
      • Author of the just published book – Make us more Innovative
      • Author of the Innovate on Purpose blog and numerous magazine articles and white papers on innovation
  9.  
  10. What We Want to Accomplish
  11. Goals for today
    • Define the importance of innovation
    • Examine key HR concerns
    • Examine how HR can enable and support innovation activities
    • Help you become more active in your firm’s innovation initiatives
  12. Key Points
    • Your HR team is chartered to increase engagement and improve talent management
      • Innovative firms have high engagement and find it easier to recruit and retain people
    • Innovation creates new roles, responsibilities, measurements, and questions about evaluation and compensation
      • Does your HR team have a seat at the table?
  13.  
  14. Definition of Innovation
    • Innovation has as many definitions as there are people in the room
    • We often use the word assuming other people have the same definition
    • It’s critical that everyone has the same definition for good communication
  15. Innovation is people putting ideas into valuable action Innovation is people putting ideas into valuable action Innovation is people putting ideas into valuable action Innovation is people putting ideas into valuable action Innovation is people putting ideas into valuable action
  16. OVO’s Definition
    • Innovation is people putting ideas into valuable action
      • Innovation is not just “creativity”
      • Innovation is not just idea generation
      • Innovation requires putting ideas into action – developing new products and services
      • Those new products and services need to drive value for the business
  17. Why is innovation important?
    • In a recent Boston Consulting Group survey, over 66% of the CEOs surveyed listed innovation as one of their top 3 priorities
    • Research demonstrates that the financial markets reward firms viewed as innovators with a premium in their stock price over their competitors
    • After years of outsourcing, cost cutting and right sizing, firms need new growth opportunities
  18. What’s the Role of HR?
    • “ HR is very critical to developing an innovative culture, but the people in HR don’t play the right role. They create processes. They are viewed as a nuisance. The new role of HR is going to be as global talent scout and to work with the chief learning officer.”
      • Vijay Govindarajan, professor at Tuck and author of Ten Rules for Strategic Innovators
  19. What’s the Role of HR?
    • “ HR is very critical to developing an innovative culture, but the people in HR don’t play the right role. They create processes. They are viewed as a nuisance. The new role of HR is going to be as global talent scout and to work with the chief learning officer.”
      • Vijay Govindarajan, professor at Tuck and author of Ten Rules for Strategic Innovators
  20. HR Role (cont)
    • “ HR needs to focus on people who can think about destruction. They must hire people who can make radical and rapid change.”
    • “ You can train for creativity by rewarding innovation.”
      • Philippe Baumard, professor at the Haas School of Business who studies innovation
  21. Innovation is about people
    • More than any other function in a business, innovation is dependent on active, motivated, engaged people
      • To generate ideas
      • To consider and evaluate ideas
      • To make prioritization decisions
      • To prototype or pilot
      • To convert into new products, services or business models
  22. Innovation is about people
  23. If it’s about people
    • If innovation is primarily about people, then the HR team has an important role
    • However, that role is often overlooked or dismissed
  24. Turn the perspective
    • We’ve looked at the definitions for innovation and why innovation is important
    • Let’s look at some issues that are “top of mind” for most HR executives
  25. Talent Management
  26. Talent Management
    • We view talent management as a strategic approach to managing human capital throughout the career cycle: attracting, retaining, developing and transitioning your most important assets. (Career Partners Intl)
    • the entire talent management process of recruiting, developing, compensating, retaining and engaging high-quality employees. (Authoria)
  27. Engagement
    • People are excited and enthused about what they are doing
    • They resist distractions
    • Tend to forget about time or place
    • Ponder current challenges even when they are not directly involved in the activity
    • Invest free time (discretionary effort )
    • Identify with the activity
    • Invite others in (emotional contagion)
    Source: Re.sults Project EMP: Excelling at Employee Engagement , The Concours Group, 2004
  28. Recruiting/Retaining
    • Finding the “right” people
    • Providing the “right” skills
    • Retaining the “right” people
    • Providing a career path
    • Defining rewards and compensation
  29. Preaching to the choir
  30. So, how are we doing? ?
  31. Gallup Survey of Engagement
    • Gallup Poll Study of employees indicates
      • 29% consider themselves fully engaged employees
      • 56% would like to be engaged
      • 15% are presently not engaged at all
    • Downward slide from engaged to not engaged
    • only takes 1.5 years to occur.
  32. Gallup Management Journal When asked to rate their level of agreement with the statement "I feed off the creativity of my colleagues," roughly 6 in 10 engaged employees (61%) strongly agreed, while only about 1 in 10 actively disengaged employees (9%) gave the same answer. This suggests that higher levels of employee engagement not only increase the likelihood that individual employees will generate new ideas, it also suggests that idea generation among engaged employees can be amplified when it occurs in a team setting.
  33. Towers Perrin Workforce Study
  34. HR and Innovation goals intersect
    • We’ve looked at HR and innovation as processes or functions with little intersection
    • Let’s review how they align and “intertwine”
  35. HR and Innovation
    • Innovation imposes process changes , introduces new roles and responsibilities , requires new talent and cultural change
      • These are all HR capabilities
    • 3 important enablers to innovation
    • 3 important inhibitors to innovation
    • HR can dramatically impact the enablers and inhibitors
  36. Inhibitors – 3 C’s
    • The three inhibitors to innovation are:
      • Communication
      • Compensation
      • Culture
    • While HR is not generally driving communication, it is actively involved in compensation and culture
  37. Compensation
    • When innovating, we ask people to take on new roles and work in new processes with risky ideas that may not succeed
    • We must consider how innovators will be:
      • Evaluated
      • Rewarded
      • Recognized
      • Compensated
  38. Compensation
    • Evaluated
      • How does the innovation work get recognized or reflected in ongoing evaluations?
    • Recognized/Rewarded
      • How will innovators or people called on to participate be recognized, rewarded or compensated?
  39. Culture
    • Firms that successfully innovate have a culture that embraces innovation
    • Your HR team can help change the cultural approach to innovation through
      • The people you hire
      • The things you reward and recognize
      • The goals and outcomes that are emphasized
      • New skills and capabilities delivered through training
  40. Embracing innovation
    • Move from “not invented here” thinking
      • Change from a “negative bias” to a “positive bias”
    • Encourage many attempts and celebrate wins and failures
    • Change attitudes
      • “ we tried that 10 years ago”
      • “ that’s never been done here before”
  41. Enablers – 3 P’s
    • Just as there are inhibitors, there are enablers for innovation
    • Those are three “Ps” that HR can influence
      • People
      • Process
      • Permission
  42. People
    • Identify individuals who bring unique skills and viewpoints into the business
    • Identify people within the business with a knack for innovation and capabilities to add to an innovation team
    • Provide training to help people think creatively
  43. Permission
    • People want to innovate, but they often feel inhibited by the culture or compensation models
    • They need permission to:
      • Take on new projects
      • Add more risk to the portfolio
      • Innovate occasionally
      • Fail without fear
  44. Process
    • For any business function to work effectively and sustainably, it must follow a consistent process
    • Innovators need a defined process to generate, manage, evaluate and select the best ideas to become new products and services
  45. What can you do? 3 Rs
    • How can you get more involved in innovation programs? What can you add to the mix?
    • Three Rs
      • Recruiting the “right” people
      • Retraining to add new skills and capabilities
      • Recognizing and rewarding those who innovate
  46. What’s important to HR?
    • Most firms are focused on:
      • attracting the best talent
      • managing that talent effectively
      • retaining high performers
      • building high employee engagement
    • Are these goals consistent with yours?
  47. Benefits of innovation
    • Most innovation leaders can demonstrate that their innovation programs and culture help them:
      • Attract the best candidates
      • Retain their best people
      • Provide opportunities for high performance talent
      • Maintain a high level of employee engagement
  48. Logical Conclusion
    • You should return home and start an innovation program within your firm as soon as possible.
  49. Was a benefit, now a driver
    • What’s happening in the innovation space is that these “soft” HR oriented benefits were recognized as outcomes, but are now being used as justification for innovation initiatives and programs
    • Several large Fortune 500 firms have recently started innovation programs in part to achieve these goals of talent management, increased retention and employee engagement
  50. Your seat at the table
    • Too often, HR is simply not invited to participate in an innovation program. That’s usually not intentional, just a lack of understanding about the value that HR can provide
    • Yet many of the challenges that innovators face are directly related to skills and capabilities HR can bring to the table
  51.  
  52.  
  53. The real “win-win”
    • Innovation teams want to quickly scale up and define new roles, responsibilities and convert ideas to new products that add value
    • To do so, they encounter a lot of challenges:
      • Recruiting the “right” people
      • Ensuring the appropriate mix of skills
      • Determining how people will be evaluated, recognized and compensated
  54. Win-Win
    • HR is increasingly emphasizing talent management, retention, recruitment and employee engagement
    • These are all positive outcomes from a successful innovation program
    • Working together, the innovation team and HR team can help each other achieve the goals and outcomes
  55. What HR can offer
    • Recruiting – finding new people with different skills or perspectives
    • Identifying innovators using Myers-Briggs, KAI, FourSight or other aptitude testing
    • Training – implementing creativity and innovation training programs to increase skills
    • Recognition – examining specific recognition and rewards programs
    • Compensation – determining how innovators should be appropriately compensated
    • Evaluation – setting evaluation programs and parameters for innovators or innovation teams
    • Cultural change – establishing a change in a corporate culture to embrace innovation
  56. Two Key Points
    • Firms with a focus on innovation have higher engagement and can more easily recruit and retain people
      • These benefits are important to HR
    • HR teams are not invited or involved in too many innovation programs, even though the HR skill sets are vital to the success of those initiatives
      • Take your seat at the table
  57. Conclusions
    • Proactively seek out opportunities to get involved in innovation initiatives
      • Currently, several of our customers and prospects have HR leading an innovation initiative
    • Use innovation programs as a method to drive engagement
  58. Wrapup
    • While innovation and HR may seem strange bedfellows, they are actually co-dependent and mutually reinforcing
    • Innovation is a people-centric activity and needs the skills HR can bring to the table
    • When innovation is successful, your key goals will be fulfilled as well
  59. Questions?
    • Contact us
      • Phone: 919-848-8675
      • Email: [email_address]
      • Web: www.ovoinnovation.com
      • Book: Make us more Innovative

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