ROI is how you justify your programs existence, yet only 39% of organizations actually track their programs impact.
Toyota is the poster child for employee idea programs, you could say they were one of the main players who took the trend mainstream all the way back in the 1950’s as part of the “Kaizen” movement. Their employee suggestion program, known as the “Creative Idea Suggestion System,” has been effective in generating significant annual savings for the company, and the value of ideas shared has accumulated into the billions
Since an employee ideas program is a large scale initiative that potentially involves every member of your organization, there are many senior stakeholders that you need to get and maintain buy-in from. This can be great, but oftentimes needing to incorporate feedback from so many different people causes unintended consequences that set your program up for failure in the long-term. Here are the six most common mistakes we see organizations
At Ideawake, one of the most common questions we get from customers and leads is whether to include incentives for participation in their employee idea programs. Although our response is always a resounding “yes,” from a best practice perspective, only ~50% of the organizations we work with elect to include incentives. This is for a variety of reasons, but they normally fall into one of three categories: Although these are
In the ever-evolving landscape of business, the concept of continuous improvement has emerged as a cornerstone of success for companies across industries. At its core, continuous improvement is a philosophy that encourages organizations to constantly evaluate and refine their processes, products, and services to enhance efficiency, quality, and innovation. However, implementing and sustaining a culture of continuous improvement requires more than just good intentions – it demands effective tools and
In today’s rapidly evolving business landscape, innovation isn’t just a buzzword; it’s a necessity for survival. Companies that fail to innovate risk falling behind their competitors and missing out on opportunities for growth. But in a world where time is of the essence, how can organizations foster innovation efficiently and effectively? The answer lies in embracing technology-driven solutions like online suggestion boxes, with Ideawake’s Idea Management Software leading the charge.
In today’s fast-paced business world, staying stagnant is simply not an option. With evolving market trends, customer expectations, and technological advancements, companies must continuously strive for improvement to remain competitive and relevant. One of the most effective ways to achieve this is through the implementation of continuous improvement initiatives. Let’s delve into why fostering a culture of continuous improvement is crucial for companies, and how platforms like Ideawake’s idea management
The top 5 reasons employees stop sharing ideas based on our State of Employee Ideas in 2021 survey.
Implementing a corporate innovation program can be a complex and challenging process, as it requires significant resources, time, and effort to get it off the ground and ensure its success. In this blog post, we will explore some of the biggest challenges that organizations face when implementing corporate innovation programs, and how you can overcome them. Lack of buy-in from top management One of the biggest challenges of implementing a
The best ideas come from the places you least expect, and the story of Flamin’ Hot Cheetos is no exception. Richard Montañez came up with the idea for Flamin’ Hot Cheetos while working as a janitor for Frito-Lay back in the 1980’s. Today, Flamin’ Hot Cheetos is one of Frito-Lay’s top selling products, and Montañez is an Executive for PepsiCo leading multicultural sales and community promotions across their North American