5 Key Factors for Systematic Innovation

The ability of companies and individuals to innovate is currently under particular scrutiny. More and more companies are dedicating time and resources to various forms of innovation, but there is often a lack of a systematic approach and structure for how this work should be carried out. At Releye, innovation is an integral part of our work, and here we share five success factors for systematic innovation efforts.

Innovation is central to Releye’s ability to remain a successful advisor and partner to our clients, while also being an attractive employer. We regularly review research and others’ experiences regarding how organizations approach innovation, and—combined with insights from our own work in this area—we have identified the following five success factors that lay the groundwork for systematic innovation efforts:

1. Foster an inclusive corporate culture
2. Create a framework for innovation
3. Framework and guidance from the executive team
4. Designate a role or position responsible for innovation efforts
5. Involve customers in the innovation process

Five Key Factors for Successful Innovation

1. Foster an inclusive corporate culture

Generating a lot of ideas is good for innovation, and it’s good to have the courage to test and implement something you’re not entirely sure about. This mindset needs to permeate the corporate culture—it’s okay to make mistakes, and it’s okay if the result isn’t always perfect. Organizations with an open-minded and permissive culture generally have significantly higher innovation capacity than organizations with low tolerance for deviations and incorrect decisions. At Releye, we champion innovation and encourage our employees to dare to test their ideas, and it is through these that we develop and grow.

2. Establish a framework for innovation

More and more companies are dedicating time and resources to innovation, but they lack the structure to measure the impact of that time. At Releye, innovation efforts are guided by a process closely linked to the monthly innovation days, when all employees come together to brainstorm, test, and develop new ideas and concepts. The processes consist of steps related to how employees prepare and plan for innovation days, how the management team follows up on the results and selects ideas for further development, and how separate initiatives for implementation are prioritized, led, and evaluated. The process and innovation efforts are evaluated based on key performance indicators that measure both operational and strategic levels.

3. Framework and guidance from the executive team

At Releye, all our innovation efforts begin at the strategic level, guided by the management team’s direction and framework. There are two reasons for establishing a clear direction for our innovation efforts:

• On the one hand, there are individuals who need boundaries or frameworksin order to fully utilize their creative abilities; at the same time, the reassurance that comes from having guidelines and frameworks to rely on allows them to think more freely and take more risks.
• Of course, the framework is also aboutensuring that valuable time and energy are spent on the right things, while helping the management team prioritize which ideas should be implemented and allocate resources for further development.

4. Designate a role or position responsible for innovation efforts

Simply appointing someone to be in charge of innovation efforts does not, in and of itself, make a difference to an organization’s capacity for innovation. However, creating a role or function dedicated to innovation sends a clear signal—both to our own operations and to our customers—that we take innovation seriously. The role is evaluated based on key performance indicators related to the entire innovation process, such as the number of ideas generated, participation in innovation days or similar events, and the number of innovations that customers adopt. The role is also responsible for the systematic approach needed to ensure structured innovation work. Success does not happen on its own—success is created.

5. Involve customers in the innovation process

Last but certainly not least, it is of the utmost importance to involve customers in our innovation efforts. Successful innovation begins with our customers’ future needs and challenges, and by including customers throughout the entire innovation process, we can ensure that every step aligns with our customers’ direction. Many of our customers contribute ideas to the innovation process—ranging from specific requests for improvements to more open-ended questions that begin with “what if…”.

At Releye, we often have access to our clients’ data and expertise, which allows us to continually verify that our analyses and conclusions are sound. When we present our findings, the meeting often sparks new ideas and questions, which are addressed by both our clients and ourselves.

The result: more ideas, faster implementation, and evaluations

In recent years, several of our clients have implemented clearer innovation processes and dedicated innovation days of their own. Just as our clients involve us in their work, we are actively involved in their innovation efforts. Close collaboration in business development not only generates more ideas but also enables faster implementation and evaluation—and it makes the whole process so much more enjoyable!

Would you like to learn more about how we approach innovation at Releye?

Get in touch with us!