Typically, cost-cutting is an expression that frightens employees. It often suggests salary reductions, job cuts and increased individual workload. When introduced in your innovation agenda, you should thus ensure that both real needs and strategy are understood across the organisation, consistently framing any cost-cutting goals.
For step 2 in cost-cutting within your innovation agenda, you will need this
A cost-cutting initiative within your innovation agenda needs to be run as a strategic initiative with the same board sponsorship, direction and accountability as any other critical initiative. It is important to ensure central governance, senior management agreement and employees’ engagement.
What are the good and the bad costs in your innovation agenda?
When introducing a cost-cutting strategy in your innovation agenda, you should first have a clear view of your company’s strategy and map out good and bad costs for programme intervention, at macro and micro levels. Both macro- and micro-level-oriented strategies have value and they often make more sense combined.
Millennials and innovation in the workplace
In 2016, Deloitte collected the points of view of nearly 7,700 Millennials representing 29 countries around the globe. All participants had been born after 1982, had obtained a college or university degree, were employed full-time, and predominantly worked in large (100+ employees) private-sector organisations.
Loyalty is no longer enough to both employers and the workforce
How does the fourth industrial revolution, blurring the real and technological worlds, affect companies and the way they do business? How do companies manage their corporate culture to increase employee engagement? What tools and methods are used to keep employees motivated and engaged?
Is gamification the way forward?
Exago’s team participated in Gamify 2017, an event gathering specialists to discuss the latest practices and the power and value of gamification for people, brands and organisations.
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…
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Time to celebrate innovation achievements at Enel
With the first round of its new innovation initiative closed, Enel has recognised 10 employees for their top contributions to ‘My Best Failure’ programme, in a ceremony held in Rome.…
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What we’ve learned about the idea management challenge
The clock is ticking. Most managers (86%, to be precise) believe transformation in their companies is imperative to guarantee unrelenting success. However, one in five companies has failed in its innovation attempts, and three in five have not yet made any effort in this area.
The first of 3 key success factors of innovation management
At Exago, we’ve worked with extraordinary clients, such as Fleury, and others from pharmaceutical, banking, utilities and telecommunications industries – across four continents – to help them mobilise targeted communities to solve key business problems by learning from them and with them.