Is innovation really worth it?

Is innovation really worth it?

Posted January 28, 2022

Discover why you must innovate your company’s ecosystem, with key tips you can implement right away

For your company to truly thrive and stand out from the crowd, your “way of doing things” must adapt and evolve. Today’s world of work is an ever-changing landscape, and it’s crucial you keep up to avoid getting left behind…

…and potentially losing your best talent to a competitor who just does things differently.

But what does “innovation” really mean? If you can’t concretely define it, how can you implement it to create a truly successful company culture? The bottom line: you can’t.

Unpacking today’s hottest topic

In our world of work, there’s no denying that innovation has become a seriously hot topic. But, this means its core value often gets lost in the buzz. Many managers and team leaders are left questioning their strategies as a result, wondering whether they’re even being “innovative” in the first place.

A pretty difficult question to answer if you can’t pinpoint what innovation actually means, right?

Many definitions are often batted around, but they should all lead to the same core answer. Business innovation is when companies implement new ideas, strategies and processes to improve growth. This growth can take many forms, including higher business revenue, better customer engagement, and increased employee welfare. The list goes on!

Being innovative is “finding new ways to solve old problems”, some would say. Or breaking through barriers, instead of giving them too much acknowledgement and allowing them to take hold.

So, is it really worth the time?

In short, 100% yes.

Innovation offers you and your people a bunch of brilliant benefits. These benefits will not only boost your overall company culture, but will transform your “way of doing things” into something that’s fresh and industry-leading.

Attract & retain top talent – The typical 9-5 workplace simply doesn’t cut it anymore (yes, even despite the ping pong table and those bean bags sitting in the corner…). Innovative perks and increased flexibility are key for both hiring and retaining today’s top talent.

Improve efficiency – Innovative strategies can boost efficiency in multiple ways. From saving time to reducing costs to eliminating bottlenecks, you can streamline your processes for a more sustainable future. You’ll also be more agile in adapting to industry changes, too. Efficiency is king!

Boost brand position – No one wants to be known as “that stuffy company that doesn’t care”. Displaying innovation shows you’re not only adaptable and willing to evolve, but that you’re worth their time. Modern-day customers are more likely to engage with brands that are forward-thinking, diverse and socially conscious.

So, how do you do it?

Get in the know

Episode two of our ‘It’s the Vibe’ podcast unpacks all things innovation with Jennifer Mumford from Zip Co. We delve into the ins and outs of what it truly means, as well as outlining how to create a thriving company culture for you and your people – with innovation at its core.

You’ll discover how to make your working ecosystem a whole lot more inclusive, successful and (you guessed it) innovative. Jen is a total pro at identifying and implementing creative strategies that truly work, with a bunch of tips you can use right away. If you haven’t listened already, you don’t want to miss out.

Tune in here and get inspired!