Beat the GFC - Mine the Gold

A culture of innovation is highly valued by many employees. A survey conducted for the Australian Institute of Management* found this to be true for Generation X (in their 30's) and Generation Y (in their 20's).
This survey sought to identify the main factors impacting on staff loyalty. The main determining factor was found to be "Management Culture", nominated by 67% of respondents. Within this category, "Forward-thinking and innovative management" was the second-most important factor that would encourage young people to stay with their present employer. Number One was "A management style that you respect".
The survey identified a group of employees who were extremely happy in their job and were likely to be working there in three years' time. The researchers analysed the responses of these "happy and loyal" people. Let's look at the items that are relevant to an innovative working culture:
• 78% of the "happy and loyal" said they worked for forward thinking and innovative management, compared with 40% of the total.
• 77% of the "happy and loyal" said their management was willing to delegate responsibilities, compared with 46% of the total.
• 84% of the "happy and loyal" agreed that their management allowed them to be creative, compared with 60% of the total.
55% of ALL respondents nominated "permission to be creative" as a factor that would encourage them to stay with their employer.
Now, this survey was published in October 2007, which is not all that long ago, but before the global financial crisis set off a chain of redundancies. Will those who keep their jobs (or manage to get new ones) change their values?
I don't think they will. People might compromise their values in the face of pressure, but that doesn't make them happy or enthusiastic in their work. Humans need to use their ingenuity and to see that it is valued. People need channels to express their creativity.
At work, people often feel that their creativity is stifled and undervalued. This could now be exacerbated, as many companies will "play it safe" and "stick to the knitting" rather than trying something new. In response to this, employees will increasingly "keep their heads down", rather than "stick their necks out" by suggesting new initiatives.
Unspoken expectations and assumptions in the workplace lead to poor communication. Especially when the pressure is on, employers don't invite ideas, or they dismiss ideas, often without meaning to. Employees assume that things at work cannot be changed, and that their suggestions would not be valued (or worse, would be held against them). The human need to create and contribute is often neglected at work, with the result that employers lose the opportunity to get the best out of their people.
With economies in crisis, the world is getting more competitive. We need to dig ever deeper for innovative ways to compete. Businesses will need lots of creative ideas in order to survive the crisis.
Human ingenuity is an unlimited resource. But it has to be mined to bring it to the surface. You have to work on tapping into this valuable resource by creating an environment where ideas can flow.
Use what you've got, to get what you want.