Study: Inclusion Begets Innovation

The Wall Street Journal: “Companies that welcome ideas from all employees have better growth prospects than those with a less-inclusive approach to innovation, a new study finds … Employees were asked how often they were included in larger, strategic decisions, whether they felt management was interested in their ideas and whether they were encouraged to try new approaches to their work. It found that companies where more people said they felt their ideas were sought out and valued tended to yield more revenue growth and employee productivity.”

“The analysis—which split companies into three tiers based on how many employees said they got opportunities to innovate—found workers at firms in the most inclusive group were 14% more likely to say they want to stay at their company long term than those in the least inclusive group. Those employees were also 32% more likely to describe themselves as willing to put extra effort into work, compared with the least-inclusive group.”

“At Quicken Loans Inc. … employees are given four hours each week of focused “bullet time.” During those hours, they are able to step away from day-to-day responsibilities and explore new skills and parts of the company’s business not directly related to their own work, said Quicken Loans CEO Jay Farner … Wegmans Food Markets Inc., a family-owned regional grocery chain with 48,000 employees, says it has ‘innovation teams’ made up of frontline workers in Wegmans grocery stores and employees in the company’s main office. These teams come up with new programs and improvements that are tested at select stores with the prospect of being applied companywide.”

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