Harnessing the power of all: Managing the people side of innovation

The rise of generative AI, advanced analytics and large-scale cloud platforms demands more than relying on outdated strategies. Innovation is now a necessity for staying relevant.

A recent IBM report found that organizations embracing open innovation achieve, on average, 59% higher revenue growth than those that do not. So, how can healthcare companies drive open innovation and harness the full potential of their workforce?

Unlike native digital companies, legacy healthcare companies face a unique challenge. Innovation isn’t ingrained in their DNA. They were not built with dedicated innovation time—such as weekly creative sprints or quarterly hack weeks—in mind. While innovation pockets exist, most employees remain focused on maintaining the core business. They’re underutilized in areas related to innovation and creativity.

But here’s what leaders miss: these employees have invaluable knowledge, customer insights, operational know-how and the potential for groundbreaking ideas.

With six in 10 employees disengaged and career growth a leading reason for job changes, fostering innovation can increase both employee engagement and company revenue.

Coaxing the inventor from the employees who focus on the core business is challenging, but it can be done. The key is to use tactics that boost engagement and provide employees with the skills, motivation and recognition to think beyond their daily work.

Here are four steps to help you on this journey:

Leadership: Guide innovation

Leadership is the compass that steers the ship of innovation. Senior leaders can set the course for their teams by demonstrating the behaviors they expect through immersive experiences, workshops and hackathons and by showcasing tangible applications and relevant technology. It’s not just about excitement; it’s about translating ideas into action. Leaders must connect the potential of innovative technologies to the needs of their teams, organizations and customers.

Education: Empower the innovators

Knowledge is power, especially when it comes to innovation. A digital upskilling approach is vital. First, equip employees with technical know-how and domain understanding of future healthcare trends, data literacy, emerging technologies and more. Then go further by training them to think like innovators. Teach orthogonal thinking, how to overcome cognitive biases, the art of storytelling and more. Clear educational approaches and frameworks can channel untapped innovation energy into measurable business impact.

Events: Create the innovation playground

Knowledge prepares people to act. To transform knowledge into action, however, organizations must provide a playground for innovation. Hands-on hackathons, innovation field trips and dedicated time and space for innovation breathe life into ideas. They energize participants and infuse inspiration into daily routines. These pattern-interrupt moments can also inspire fresh thinking about how to reach strategic imperatives and reshape growth.

Celebration: Share the limelight with scalers and inventors

Every innovation journey has its heroes. Celebrate them loudly. Recognize and applaud the inventors whose ideas shine brightly. But don’t forget the unsung heroes—the scalers.

These individuals refine and scale ideas for widespread use, creating enterprise value. They are the backbone of innovation, turning ideas into reality. History shows, for example, that smallpox vaccines were developed multiple times before being effectively scaled for lasting impact. Celebrating the scalers just as loudly as the inventors will emphasize that an idea is a great milestone, but not the end of the journey.

Legacy healthcare companies must embrace open innovation and empower every employee to become an innovator to thrive in the fast-paced world of healthcare. By unleashing their potential, these companies can create a culture of innovation that propels them forward. It’s time to unleash everyone’s skills to revolutionize healthcare.

Interested in driving grassroots digital innovation in your organization? Contact David Schneider and our digital team to schedule an innovation consult.