Intrapreneurial Hack: Techniques to Navigate Corporate Red Tape
While 84% of executives confirm that innovation is important to their growth strategy, organizations around the globe continue to limit themselves due to outdated practices. Yet, success in the modern world requires an approach fit for the current time.This is why learning to navigate corporate red tape should be a priority for all.
Here’s all you need to know about finally taking your corporate innovation strategy to the next level.
Happy employees are more productive
According to statistics, happy employees are 13% more productive. Frankly, keeping them engaged with their work is the most effective way to see those benefits.
To encourage engagement in relation to innovation processes, organizations should focus on supporting a company-wide approach that makes it accessible for all. Moreover, there should be a psychologically safe environment in which employees do not fear failure or worry about potential embarrassment due to mentioning a bad idea. When combined with an active effort to celebrate all triumphs rather than the big idea alone, success will follow.
What does the term “corporate red tape” mean?
Corporate red tape is defined as: “an excessive burden of formal procedures that slow down a company’s processes. It is a bureaucratic behavior where many steps are required to fulfill certain tasks.”
As far as innovation is concerned, it is characterized by a clear hierarchy that leaves a small group of decision-makers in charge of all important decisions. In turn, employees will need to work within the restrictive guidelines set by senior execs and jump through several hoops to get their ideas and voices heard. This causes a noticeable reduction in creativity and innovation while also slowing the process of taking concepts to market.
How to navigate corporate red tape in six steps
Acknowledging the fact that corporate red tape is holding you back is one thing but overcoming this obstacle is another. Here are six tips to help you overcome it.
1. Make innovation open to all
Studies show that a company-wide approach to innovation will statistically yield more ideas. Better still, it enables you to receive ideas from all perspectives. This additionally makes innovation an integral feature of the company culture. Employees will also feel inspired by their colleagues and be in healthy competition with them,
2. Accept failure
A bureaucratic approach to innovation is restrictive for many reasons, but not least because the decision-makers often see failure as a financial burden. In reality, most innovations fail while even the successes usually require an iterative approach. Foster an atmosphere where failure is seen as a step en route to success, and the red tape will be far less impactful.
3. Invest in mentoring
While traditional team training schemes fail to dismantle bureaucracy, mentorship is ideal. 59% of company executives aren’t sure they have the right people with the right skills needed to deliver high-quality innovation. Mentoring allows employees to be molded while also helping them use their mistakes as a learning opportunity. It emphasizes good versus bad decisions.
4. Put frameworks in place
Mentoring helps employees to be able to help themselves. However, they also need the right frameworks in place. KICKBOX guides intrapreneurs and their ideas toward natural conclusions. When combined with data visualizations, they can also work with autonomy. They will have the freedom to work on concepts as soon as they surface without constantly seeking permission.
5. Adapt for the customer
Innovation often revolves around customer-centric ideas. When organizations realize that employee demands change and that intrapreneurs often have the best insights into data trends and evolving viewpoints, corporate red tape is far less likely to stand in the way of successful ideas. Not least when out-of-the-box thinking meets data-driven decisions.
6. Let common sense prevail
Corporate red tape often causes problems because strict rules stand in the way of common sense. The road to innovation is rarely one straight path but restrictive protocols may limit employees to a single route. Embracing flexibility and allowing intrapreneurs to show accountability, collaborate with others, or involve the customer can work wonders.
Take control with KICKBOX today!
Overcoming corporate red tape largely relies on a shift in mindset. Still, supporting your team with the right tools is a vital tool. KICKBOX encourages autonomy and creativity while still guiding individuals and facilitating clear collaborations.