Episode 700: Show NotesIf you dream of having a team full of problem solvers, you’ve come to the right place. In the previous episode, we talked about the four types of problem solvers that your team needs. In this episode, we investigate how to encourage your employees to be problem solvers in the first place. Efficiency is championed in the workplace, and the number one thing to get in the way of it is the brake of identifying and solving problems. For this reason, there is often a lot of resistance to turning the focus onto innovation. Yes, it takes time, but it’s worth it! Tune in to hear our advice on creating space for innovation and incentivizing problem-solving. We leave you with seven practical ways to promote a culture of creativity and innovation within your team!
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Creating Space for InnovationWe like to borrow ideas from corporate America and adapt them to the small business model, with more ethical practices and realistic standards. One such idea is what has been categorized as “Corporate America’s most underrated innovation strategy.” American multinational conglomerate, 3M, encourages and incentivizes innovation by making problem-finding a component of every employee’s job description and ensuring that at least 30% of each division’s revenue comes from products introduced in the last four years. Their 15% rule invites employees to devote 15% of their time to “experimental doodling” or pet projects. Google has a similar approach called “20% time.” Bear in mind that 15-20% is an entire workday! We’ve talked about a four-day workweek, but what about a four-day standard workweek, with an extra day for play and innovation?
Incentivizing Problem SolvingHaving given employees an entire workday’s worth of freedom, 3M rewards problem-solving via their dual ladder system. This involves employees choosing one of two avenues to advance their careers, each with the same pay and benefits. One ladder involves advancing science and products, while the other is all about managing people. This incentivizes employees to direct their talent where they can make the most impact and prevents bright researchers from turning into bad managers. People who are talented in their roles should be compensated properly without having to change course for the sake of promotion. Another way to subconsciously encourage innovation is to build it into your company motto so it seeps into everything you do.
Although a lot of money can be wasted in experimental phases, there are ways to make room for innovation in smaller businesses without necessarily altering the budget, such as allocating time differently and pausing certain projects.
7 Ways To Encourage Innovation and Problem SolvingImplementers can be good problem solvers with a problem that already exists, but actively seeking and predicting new problems and coming up with an innovative solution is another set of skills altogether. We’ve compiled a list of seven ways to encourage both problem-finding and solving:
Quote ThisThe second most important factor in establishing problem-solving skills is trusting your team.” Highlights* Creating Space for Innovation. [0:07:56] * Incentivizing Problem Solving. [0:14:14] * 7 Ways To Encourage Innovation and Problem Solving. [0:18:58]
Today’s Guest:Abagail & Emylee
The Strategy Hour Podcast
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We help overwhelmed and creative entrepreneurs break down their Oprah-sized dreams to create a functioning command center to tame the chaos of their business. Basically, we think you’re totally bomb diggity, we’re about to uplevel the shiz out of your business.
Key Topics:Innovation, Incentives, Creativity, Problem-solving
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