The Importance of Innovation as A Leader

Innovation is a quality that helps a business stand out from its competitors. It also makes a business more disruptive. Innovation is a change that introduces something new to the business that either helps gain more customers or makes the business processes more efficient. Therefore, it is important for leaders to have an innovative mind.

As a CEO, emphasis on work innovation is crucial. Some of the most effective ways CEOs have encouraged work innovation in their businesses are by providing an outlet for creativity, encouraging risk-taking, and designing the workflow for innovation.

An outlet for creativity

Innovation can be tricky as it starts with an idea that must be unique and offers a good solution. Therefore, it requires creativity and teamwork. Many CEOs make sure to make it a part of their business’s daily routine as it is not something that can take place over one business meeting. They even create things like a digital brainstorming space for employees where they all discuss new ideas that the company can implement to improve business operations.

Encourage risk-taking

Jack Sobel, founder of a structural steel fabrication company and a philanthropist involved with RMBH Charities shares: “I believe that risk-taking encourages a lot of innovation. By encouraging my workers to experiment with new ideas, I am allowing them to have a broad approach to thinking.

This diminishes any brainstorming barriers for them. The broader the perspective, the more ideas are inspired, which hence leads to innovation.

Workflow automation

Collaboration is the key to innovation. People come together and brainstorm ideas with each other, which leads to a bigger idea.

In my business, I divide my workforce into different teams according to their strengths and weaknesses. This is important because people with similar traits are able to communicate better.

Keep a positive work environment.

I believe that workplace relationships greatly impact innovation in a business. For example, a good employee-employee or employer-employee relationship signifies the potential of a workspace to be innovative.

A healthy working environment means more interaction and, hence, improved communication, which leads to innovation.”

Here are some  examples of how Andy Golpys, founder of MadeByShape has implemented work innovation in his office:

4-day workweek approach

“I decided to introduce a 4-day workweek approach in my business and today many businesses have started considering it as well. I believe that by giving workers an extra day off, I will not only be able to increase my business’s productivity but also make the processes more efficient.

 I noted how implementing the idea was a huge win for the company. It not only maximized the results but also reduced the business’s operating costs by 20%, as we were saving a lot on electricity.

 This was an example of disruption as there was an innovation in the industry that radically changed the way other companies operate.

Developed a fully automated workplace

I believe that technology is better at beating human errors. They make the processes more efficient by reducing redundancy as well as the energy required for an individual to complete a task.

 For example, my business uses task management software like Trello to keep track of any deadlines or introduce new projects. All my business’s departments use software that helps automate repetitive tasks.

TikTok as a recruiting tool

I use TikTok to find workers for my company’s website. I think the platform is unquestionably a wonderful place to hire. Gen-Zers are incredibly easy to draw in because they spend their leisure time scrolling through videos on TikTok.

Some of them may be jobless or simply have a lot of free time. TikTok’s algorithm enables short videos to receive views right away after being posted. Any news you wish to share, as well as job vacancies, can be done so quite easily. It is even better if you are recruiting remotely because you won’t care as much about the candidate’s location.”

Innovation Benefits To My Company

According to Joshua Rich, founder of Bullseye Location; “Innovation in the workplace has brought many benefits to my business. Firstly, it has helped reduce operating costs. For example, as I mentioned above, the four-day workweek has reduced the operating costs for my business as we are saving a lot on electricity.

Furthermore, using Tik Tok for finding the right candidate has helped minimize recruiting costs. TikTok is a platform with a very large reach. We spend less time and effort on finding the right candidates. In addition, with an automated workplace, business processes are becoming more efficient, reducing production costs.

Secondly, encouraging innovation in my workplace has increased the competitiveness of my business. For example, today, distinct ideas are more appreciated by customers. The uniqueness of the products or business processes attracts more customers.”

Isla Sibanda, owner of Privacy Australia believes that; “Even a unique business logo can get you more clients. Therefore, innovation has not only helped me establish my business’s distinctive personality but also helped me attract both customers and talented employees. This has given us a competitive edge as we are setting new standards for the industry.

Lastly, innovation has helped me develop partnerships and increase business connections. The increased brand recognition allows other businesses to trust your company and encourages them to come into a partnership with you.

I am very active on my LinkedIn account and post about any innovative moves that my business makes. This has gained me a lot of recognition as well as followers. The number of connections displayed on my account played an important role in helping other businesses develop connections with my company.”

365 Business Tips