Solutions
This offers an opportunity to be creative and develop a concept powerfully.
A lack of budget and investment to innovate is not uncommon, neither is more structured programmes and transformations typically taking the lion’s share of the budget.
We believe for most early-stage innovation, a scarcity approach tends to work best.
We have a quick sprint-like approach that puts this into practice.
Innovation methodologies such as the 123 Framework have been designed to save time and money on developing ideas.
Want to explore the framework?
By moving at pace and proving the value in an initial idea using ‘cheap tests’ rather than ‘expensive pilots’
We’ve been trusted to facilitate this for some of the biggest players in Insurance.
Building momentum and getting buy-in for innovation initiatives can be a challenge. It’s not unusual and many organisations we’ve supported have historically battled the obstacle you’re facing. Our team have rich experience helping to support teams, individuals and whole organisations to embrace innovation, so we understand the challenge ahead.
Need to report quarterly results to the parent Group takes all focus. Only continuous improvement innovations or those that deliver scale in the next quarter would be considered.
Only current-type ideas get any traction and rest of them doesn’t get the support they require. Subject matter experts can’t be accessed to support innovation.
Mentalities are siloed with focus on immediate, and managers discourage their teams or actively seek to block innovation across the organisation
There’s no sense of innovation community, and any colleague that does want to do innovation has to do so discreetly
We’d love to speak with you on how we might be able to support you.
In our People and Culture research, we found that employees often feel they are encouraged and supported to come up with ideas, but lack confidence when it comes to execution.
The risk of not doing this is creating a cycle of disillusionment. If you are encouraging staff to come up with ideas that never go anywhere, they will become sceptical about innovation and be less likely to share ideas in the future.
We would love to speak to you about how we could support you and your team to take your ideas through from inception to execution.
We would suggest to get everyone involved in innovation in different ways:
It does not need to solely be everyone’s day job but can be part of a culture and way of working
It is important to communicate and set the culture so that everyone has the tools and permission to innovate
We believe that it’s certainly possible to do innovation side of desk! Have you heard of our Idea Developers programme that supports you to do just that?
The future of work means there is a greater need for organisations to enable openness and creativity. Innovation by its very nature is experimental and will have some successes and some failures.
Reframing ‘failure’ can be about putting focus on the experiments and learning, which are key.
Having the right type of culture and psychological safety to operate is important.
At the heart of this is having the right innovation mindsets to foster this type of culture.
Execution of ideas can often be the blocker in an innovation journey, not the creativity itself.
There are different aspects to this tension, that some will feel whole others don’t, depending on the maturity, processes, culture etc of the organisation.
Processes that are geared towards a large scale offering may not be effective for executing new ideas which can lead to a loss of momentum for the project and make it ineffective. If the business case for innovation is not proven, others may not attempt to implement new ideas.
Risky new concepts are often avoided due to a lack of appetite for them and the absence of historical data. Pilots are rarely scaled up due to limited appetite, and new ideas are typically only pursued if they are similar to existing ones or part of the current product set, preventing truly new concepts from being explored.
When there is no clear sponsor or owner, ideas may not have a decisive leader and become stagnant, receiving only a lukewarm response. With a pipeline of ideas that do not progress, innovation is viewed with increasing cynicism and seen as something not relevant to the organization.
The build and project teams are designed to deliver at scale, which does not allow for small or rapid build and test. This results in every iteration of an idea becoming an expensive and time-consuming pilot. The capability to test and learn on an idea is limited which leads to the final idea that is launched being suboptimal.
We’ve been trusted to facilitate this for some of the biggest players in Insurance. If you’d like to talk to us about how we could help you more remove the blockers to execution, we’d love to chat.
