Innovation gap grows

Employers
could do more to inspire innovation according to a new report.

The
report is based on a survey by the CBI and 3M in partnership with the Design
Council. It concludes that ideas are going to waste because of poor follow-up
procedures. The result is an "innovation gap"

Less
than 40 per cent of employers have formal processes for monitoring innovation
and only 56 per cent of firms review old ideas to spot opportunities. Just 15
per cent of companies use information technology to keep track of ideas. Most
have not considered selling or trading ideas.

Only
55 per cent of employers offer financial or other rewards to encourage staff
innovation.

Digby
Jones, CBI director general, said, “The UK is something of a design goldmine
and companies need to be tapping into that more often. They need to do more to
boost innovation not just by encouraging creativity but also by fully
exploiting the ideas they have.”

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Phone

This field is for validation purposes and should be left unchanged.

Δ

www.cbi.org.uk

By
Ben Willmott