Recognizing Inventors Contributes To A Much Bigger Picture.

Every time you take the opportunity to recognize an inventor (or establish a system for managers to recognize inventors) you are contributing to your culture of innovation. A culture of innovation takes time to build, but it is something every organization can achieve with a little intentionality. While there are many factors contributing to an innovative culture, achieving success hinges on a few key elements.

To begin with, an innovation strategy is essential. Also, consistent communication strategies to remind everyone because good communication requires repetition. Furthermore, having practices in place to recognize those who are innovating, which encourages those actions to be repeated. With these three foundational things in place, your culture of innovation will flourish.

Promote Company Growth

Organizations must have forward thought if they are going to grow and be successful. While the products and services provided now may sustain a business, the new ideas from innovation will be what provides future profits and growth. Consumer behaviors and market demands change quickly.

It isn’t enough to innovate occasionally. Strategies that may have worked in the past can get stale if you aren’t constantly looking at the results and making changes. Even the most successful companies who hold considerable market share are not immune to ignoring innovation and change; just look at Blockbuster. (If you don’t recognize that name… point made!) A culture of innovation will allow for a consistent flow of innovation that can help your company grow.

Attract & Retain Talent

Innovative people are drawn to innovative environments. Creative inventors want to explore new ideas and fields, they want to make changes that can impact the world. If you want to attract the best talent you must make a culture of innovation a priority in the organization.

Retaining your top innovators is always crucial. While the “Great Resignation” may be coming to an end, the rebalance of the labor market is just starting so continuing to ensure a positive culture exists will only help keep your talent where it belongs. Improving and learning new things directly relates to how much people love their job.

The organization's ability to keep its top achievers could very well relate to how often inventors are challenged with opportunities for innovative thinking. As they work on new ideas and receive recognition for the same, their job satisfaction and engagement will increase. This further improves the innovation process. When team members feel fulfilled, the whole company becomes a desirable place to work.

In a world where change and disruption are fast, innovation is essential for success. A strong culture of innovation offers a company many valuable benefits. This is why you recognize inventors for their intellectual property accomplishments. What you are doing, while seemingly small, contributes to a much bigger picture.