Ask any CEO and they’ll tell you that innovation is vital to a company’s long-term success. In fact, a recent IBM study (IBM, 2010) of over 1,500 global CEOs found that ‘creativity’ was the number one most important capability for achieving their ambitions
Yet many large companies will secretly admit they don’t have the capabilities to innovate continuously. The result of this is that the majority of what they release as ‘innovations’ do not excite their customers, so much so that an astonishing 96% of all innovations released by companies fail to make a positive ROI (Doblin, 2013).
But the good news is that innovation is actually a process that can be trained, and creating a corporate environment which actually encourages innovation is something in which HR departments can play an integral role.