Why is innovation management a powerful tool to engage Generations Y and Z

Large companies looking for creative and transforming ideas need to leverage innovation management to conquer employees, particularly Gen Zers and Millennials. Those leading must develop the mindset and organisational structures to empower these younger generations and help them reach full potential, while being part of their company’s evolution.

Being able to align an individual’s everyday work and goals clearly with the organisation’s strategy gets people to think in new ways and imagine new possibilities. It makes it easy for employees to see how their contributions matter.

An innovation management software can help you share your company’s vision and strategy, get people involved, and continuously find new answers, as change becomes constant. Additionally, by including evaluation mechanisms, these sophisticated platforms give the community the chance and means to assess, as a whole, the ideas presented – thus harnessing and activating your company’s collective intelligence.

Idea management software (such as Exago Smart) also promotes a collaborative culture, for individuals and the community, answering directly to the main needs and motivations of both Millennials and Generation Z, as the following table shows:

innovation management to engage generations y and z

As innovation becomes the natural way of doing business for both these generations, organisations should focus on gathering and maximising their potential. The greater challenge, however, lies in managing this process in an efficient, collaborative and transparent way, using technology as a bridge to make their voices and contributions a real part of the corporate evolutionary path.

READ MORE:
Six best innovation practices to engage Millennials and Gen Zers

FROM THE START:
Loyalty is no longer enough to both employers and the workforce

Aylin Olsun, managing partner of ASO Company
Diana Neves de Carvalho, Exago’s CEO

How to create a culture of collaborative innovation in younger generations

We have seen how Millennials and Generation Z are often disconnected from the strategic vision of a big organisation because they cannot see any links between their everyday work and the company’s business objectives.

Being able to align an individual’s everyday work and goals clearly with the organisation’s strategy gets people to think in new ways and imagine new possibilities. It makes it easy for employees to see how their contributions matter. Alignment with the organisation’s strategy becomes a personal matter, creating the foundation for increasing both engagement and personal satisfaction.

People on the front lines have, in fact, a unique perspective given their skills, experience and view into the organisation. Inviting employees to participate in the decision-making process by sharing their ideas about their work offers leaders multiple and very diverse points of view.

If you inspire people to think strategically about work, they will find ways to solve problems and opportunities for innovation that have the potential to elevate overall performance – and potentially improve their employees’ retention ratio.

With idea management software, such as Exago Smart, you can launch strategic business challenges and invite each employee to share ideas and insights on them. In other words, it allows employees, as individuals, to participate and have a say in building the company’s future together – aligning goals, seeking greater engagement and stimulating creative thinking and collaboration.

Additionally, by including evaluation mechanisms, these sophisticated platforms give the community the chance and means to assess, as a whole, the ideas presented – thus harnessing and activating your company’s collective intelligence.

In this sense, innovation management software can help you continuously find new answers, as change becomes constant. It also promotes a collaborative culture, for individuals and the community, answering directly to the main needs and motivations of both Millennials and Generation Z.

READ MORE:
Why is innovation management a powerful tool to engage Generations Y and Z

FROM THE START:
Loyalty is no longer enough to both employers and the workforce

Aylin Olsun, managing partner of ASO Company
Diana Neves de Carvalho, Exago’s CEO

Welcome to our renewed mission, brand and product offering

We all sometimes feel the need or a resolve to explore and create new paths. At Exago, we’ll be celebrating our 1oth anniversary this year and understand it is the time for such evolution, so that we are fit to evolve with your business in the years ahead. As a result, we bring you:

• A new mission statement: we embrace the mission of making innovation come together, both by engaging everyone to collaborate and share the innovation challenge, and by delivering a powerful platform designed to find, improve and bring to life ideas with high potential for value creation.

• A new image: with our innovation management software fully conquering our core business, Exago is now the software, the people and the company. This fresh positioning has inspired a new brand and website, to introduce the best of us.

• A new product offer: after listening to our clients and market needs, we now deliver three software editions:

  • EXAGO SMART gives you advanced innovation performance. Based on our US-patented prediction markets algorithm, this platform efficiently gathers your company’s collective intelligence for smarter decision-making;
  • EXAGO OPEN will take your innovation programme beyond corporate walls, effectively engaging external stakeholders;
  • Arriving soon is EXAGO START, a swift innovation software for those taking the first steps into building an idea management programme.

Regardless of how much changes, our goal to help all our clients succeed in their innovation programme remains the same, and just got stronger.

Exago partners with Microsoft for optimal innovation software performance

Exago announces a technological and business partnership with Microsoft, to strengthen its product scalability and performance and to accelerate growth in sales. Now hosted by the Microsoft Azure cloud computing platform, Exago’s collaborative innovation SaaS solution is fully set to grow alongside corporate innovation programmes, supporting unlimited users’ increase in multiple geographical locations. The software is already available in eight different language options.

Exago’s CEO, Diana Neves de Carvalho, explains that this technological partnership “answers clients’ increasing security concerns worldwide. Exago’s infrastructure, hosted by Microsoft Azure, can now guarantee total network and perimeter security, as well as compliance with all major industry standards”. Based on the most frequently used web technologies, Microsoft software ensures fast and controlled upgrades, as well as business continuity.

Exago and Microsoft will be working together to open new business channels and explore strategic markets. Recognising the needs of start-ups and small- and medium-sized companies that develop technology solutions, Microsoft also wants to accelerate existing and new solutions and applications to the market. “Exago’s Idea Market software allows companies to efficiently manage their innovation challenges and continuously find new solutions and growth paths. We therefore believe we are investing in the future,” says Diogo Pinto de Sousa, Partners Director at Microsoft.

Founded in 1975, Microsoft (Nasdaq MSFT) is the worldwide leader in software, services, devices and solutions that help people and businesses realise their full potential.

Six common mistakes and one advice for innovation challenges

Operational efficiency is clearly ahead in idea implementation, while sales and marketing, sustainability and better customer experience count for more than half of all the ideas implemented. By dissecting the innovation challenges that performed the worst – and excluding extrinsic factors such as a weak system of incentives and feeble, meagre or uninteresting communication – we note that these challenges tend to be:

a. Unfamiliar or distant from people’s everyday work and needs;
b. Detached from current business strategic alignment: This may happen, for instance, if you launch a challenge focused on anticorruption, social inclusion or ecosystem protection, but your company has never, in your daily practices and initiatives, really shown interest in such themes;
c. Too technical for the target audience: Both technical and business jargon has the power to dismiss and demobilise larger parts of your audience;
d. Too abstract: Remember that, the wider the scope, the more people tend to submit ideas that are irrelevant for your business;
e. Too narrow: Yet, if you completely limit the scope, you may miss some relevant insights;
f. Ambiguous or difficult to understand: Linguistic complexity, such as unclear or complex sentences, may make you lose your audience’s focus and attention.

One of our clients suggests as well that “communication is important, but, if you find it is too important, then all the rest is poorly structured. You cannot feed a fire just with straw. . . Guidance on how to write a good idea must go well beyond mouseover suggestions.”

Also, remember that, even if you map the right tools and needs, other factors can still undermine the success and participation in your innovation programme. For instance, you should not expect highly engaging initiatives without first planning and rolling out an appropriate communication plan, as well as adequate awards, recognition and implementation mechanisms. In the next posts, we seek to give you a hand in establishing and structuring your innovation challenges.

Diana Neves de Carvalho, Exago’s CEO/ dnc@exago.com
Francisco Bernardes, Exago’s head of Innovation Services/ fmb@exago.com

READ MORE:
A step-by-step guide to defining your innovation challenges

FROM THE START:
Your ultimate innovation challenge – what works and what doesn’t