Business2Community recently published an article written by Spigit’s CEO, Scott Raskin, discussing how a focus on crowdsourced innovation can help drive employee engagement.
The reality is, having engaged employees in today’s competitive business landscape is important now more than ever. This is why companies invest so much money on improving employee engagement – over $100 billion annually to be exact.
However, despite spending billions, employees are still extremely disengaged according to studies. There’s an obvious problem here, which Scott highlights in the article, while discussing a solution that the world’s most innovative brands are benefitting from.
Here are a few key takeaways from the article:
- Traditional approaches to increase employee engagement have not addressed the problem, leaving only about 30% of workers “engaged.” With this figure barely changing over the past decade, employers must find new and impactful ways to drive engagement while still aligning with corporate strategy.
- Crowdsourced innovation has emerged as a powerful tool to increase employee engagement – employees are more engaged when they feel valued and that their input is listened to by leadership. This tactic not only helps to discover actionable ideas to grow the business, but it also enables a company’s workforce to get more involved.
- Inviting an entire employee base – despite age, location or job title – to participate in an innovation challenge helps to foster a positive culture of inclusion and collaboration. Additionally, greater diversity of participants leads to higher quality of ideas and better outcomes.
- Using crowdsourced innovation to engage the workforce will, in itself, move the needle on business results through increased productivity and reduced turnover – whether an organization’s strategic focus is on customer experience, digital transformation, product development, or driving efficiency and cost savings.
Companies are starving for effective ways of getting their employees more engaged that’s cost-effective and has impact. As we’ve seen from countless companies, crowdsourced innovation has become a proven method of doing just that.
Check out the Business2Community article here for more.