I am delighted to be co-leading an insightful workshop on “Boosting Innovation by 3X-The Power of Culture Management” with Jason Stolworthy and Jim Keating of Idaho National Labs and my InnovationOne, LLC colleague, Brooke Dobni, PhD., at the LESI 2024 International Conference in Madrid on April 29. Nationally funded Labs can significantly boost their innovation and outcomes by developing their cultures of innovation.
InnovationOne’s recently completed joint-study with the US Department of Energy shows that higher innovation culture scores improve R&D lab performance. In fact, improving a culture score by just one point (on a 100-point scale) can increase performance in innovation, commercial deployments, partnerships with industry, and academic publications by up to 30 percent.
Our research with publicly traded companies has revealed that companies scoring in the top quartile of our InnovationOne Culture Index© reported higher financial performance than bottom quartile performers by as much as 22 percent. We also learned that the 2012 top innovators earned a 6.3 percent total shareholder return premium (stock price appreciation and dividends) over three years. Companies on the top innovators’ list since 2004 delivered a 4 percent premium over 10 years.
Culture and innovation can be measured. Leaders can manage what they measure. Organizations that focus on improving their cultures to be mission-focused, collaborative, and transparent can achieve excellent outcomes and increase their productivity, innovation, and financial performance.
You can measure and ignite your innovation intelligently.
Does anyone want to join us for a beautiful Spring in Madrid? Please click for registration instructions.
About Victor
Victor Assad is the CEO of Victor Assad Strategic Human Resources Consulting and Managing Partner of InnovationOne, LLC. He works with organizations to transform HR and recruiting, implement remote work, and develop extraordinary leaders, teams, and innovation cultures. He is the author of the highly acclaimed book, Hack Recruiting: The Best of Empirical Research, Method and Process, and Digitization. He is quoted in business journals such as The Wall Street Journal, Workforce Management, and CEO Magazine. Victor has partnered with The Conference Board on innovation research. Subscribe to his weekly blogs at http://www.VictorHRConsultant.com