Incentivizing Innovation in your Organization

To encourage the employees to continue innovative thinking and active participation, the organization should reward all contributions by employees based on the range of success and effectiveness of the ideas. Compensation should be reworked to include a percentage towards work outside those tasks described in the standard Job Description.

Employees should be incentivized to utilize them more often. Employees should be made to realize that they should change their mindset to the new culture or be left out. Each one should be given a target of a certain number of ideas in a year (if not half-yearly). This will keep everyone on their toes and look out for options to help the organization.

The appraisal process/system of organization should be tweaked to include the additional participation / projects that will be undertaken by the employees. The daily tasks will be the basis for their fixed part of the salary while the extra ones will determine the variable salary that will be paid out by the organization.

Stock options would be another route to consider rewarding the high-performing employees.

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One Response to “Incentivizing Innovation in your Organization”

  1. Prateek Says:

    Amazing !

    No additions required. You’ve conveyed the idea and its on people to build on it.

    I would really like to see that happen. I am taking inspiration from this and I shall get this done when I am there.

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