Fostering employee-led innovation & agile methods in a private bank
Read about how LGT built an innovation community of 1,200+ employees, turning ideas into action and fostering agility in a traditional industry.
Impact with rready
1200+ community of innovators
sharing their experience, knowledge, and learnings
70+ new ideas validated
by engaging employees at every level
Ideas sourced globally
across all LGT locations
The challenge
Digitalization is changing the way that employees work, requiring companies in such a traditional sector like banking, to adapt and adopt more agile methods of work. This also means providing employees with an environment that nurtures creativity and problem-solving and allows them to contribute their innovative ideas in a safe space.
Implementing a structured process for employees to test their ideas, collaborate and receive the necessary resources to work on their innovations is crucial.
The solution
rready's intrapreneurship program is an employee-driven, bottom-up, scalable innovation program. It allows company-wide idea submission and innovation, irrespective of your role. Through gamified and easy-to-use tools, the program is a comprehensive solution to empower employees to find innovative solutions to problems as well as promote idea ownership.
As part of the first phase (the idea validation phase) employees receive a CHF 1‘000 starting credit, 20% of their working hours, and access to a network of innovation experts as well as the KICKBOOK - a comprehensive guide for intrapreneurs to validate their ideas step by step.
Following a pitch presentation in which employees present their ideas in front of a jury, the most promising ideas move along to the validation phase, and then to implementation.
This structured approach allows employees to de-risk their ideas in a systematic manner through the collection of data and feedback along the way. LGT launched the program globally with a focus on improving the internal processes and to address the changing needs of the workforce, to ensure an internal culture that is fit for the digital age.