Future Squared Episode #176: KPIs and Incentivise to encourage Corporate Innovation

Future Squared Episode #176: KPIs and Incentivise to encourage Corporate Innovation
September 1, 2017

Future Squared Episode #176: KPIs and Incentivise to encourage Corporate Innovation

I left the corporate world years ago not only because I managed to raise funding to pursue my own startup ideabut mostly because there was little to no incentive for managers to encourage new ideas or change. Managers were simply incentivised to deliver simply what was in their position description and more often than not, that had nothing to do with discovering new ways of doing things, much like the organisations they work for.

Change is risky after all, or so they say. Many managers wonder why on earth they should take a risk on change when they’re sitting pretty on a six figure salary, probably have mouths to feed, are comfortable with “the way things have always been done around here” rhetoric and have no real desire to rock the boat. But with more than 50% of today’s S&P500 facing replacement in the next 10 years alone and with one in three listed companies at risk of being de-listed in the next five years, it’s no secret that organisations need to start incentivising innovation if top-down calls from senior executives to “be bold, be innovative!” are to be heeded. 

This need is even more pronounced at a middle manager level which can either be the lifeblood or ring the death knell of corporate innovation. The question often becomes one of how to incentivise innovation without compromising the core business model. After all, the core business model is where we make money today (but not necessarily tomorrow - just ask Kodak, Blockbuster, Borders, Compaq and countless others who have fallen by the wayside thanks to technology and/or business model disruption).

I delve into the key considerations in this episode of Fast Fix Friday. 

Listen on iTunes: goo.gl/sMnEa0 

Listen on Stitcher: www.stitcher.com/podcast/future  

If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared  

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For more information on Collective Campus, our innovation hub, school and consultancy based in Melbourne, Australia, check out www.collectivecamp.us

Innovate or die.

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Steve Glaveski

Steve Glaveski is the CEO and Co-Founder of Collective Campus which he established to help companies and their employees to create more meaningful impact in the world in an age of rapid change and increasing uncertainty. Steve also founded Lemonade Stand - a children's entrepreneurship program, wrote the Innovation Manager's Handbook vol 1 and 2, hosts Future², an iTunes chart topping podcast on corporate innovation and entrepreneurship and is a keynote speaker. He previously founded HOTDESK, an office sharing platform and has worked for the likes of Westpac, Dun & Bradstreet, the Victorian Auditor General's Office, Ernst & Young, KPMG and Macquarie Bank. Follow him at @steveglaveski and Book a free 15-minute call with Steve to talk through your innovation objectives.

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