"Hire a chief innovation officer.” “Change the culture.” “Look outside your industry.” There’s no shortage of advice about how companies can become more innovative. The catch is that most of that advice is based on anecdotal evidence. But there’s one step companies can take that does have some data behind it.
Awareness of the business case for inclusion and diversity is on the rise. McKinsey's latest research reinforces the link between diversity and company financial performance—and suggests how organisations can craft better inclusion strategies for a competitive edge.
“There’s no team without trust,” says Paul Santagata, Head of Industry at Google. He knows the results of the tech giant’s massive two-year study on team performance, which revealed that the highest-performing teams have one thing in common: psychological safety, the belief that you won’t be punished when you make a mistake. Studies show that psychological safety allows for moderate risk-taking, speaking your mind, creativity, and sticking your neck out without fear of having it cut off — just the types of behavior that lead to market breakthroughs.
As digital transformation disrupts the workplace, one factor more than any other will determine which companies turn digital to their advantage. That critical element is people: the talented employees who are able to use existing digital technologies and adapt to evolving methods and new approaches.
The likes of Google and Facebook MUST face up to their responsibilities; media companies ARE responsible for their content.
Research shows that hurtful workplace behavior can depress performance, increase employee turnover, and even mar customer relationships.