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LGT Banking Success Story:

Fostering Employee-led Innovation & Agile Methods in a Private Bank
Element 6

70+
NEW IDEAS VALIDATED

by engaging employees at every level
Element 14-1

14+
IDEAS FUNDED

for innovators to incubate their idea
Element 13-1

4+
IDEAS IMPLEMENTED

following the successful completion of the program
Element 11-1

1200+
COMMUNITY OF INNOVATORS

sharing their experience, knowledge, and learnings

About LGT Banking

 

LGT private banking was founded in 1921 in Liechtenstein, as a family-run business. It has since become a leading international provider of comprehensive investment solutions for high net-worth individuals, managing assets of more than CHF 305.8 billion in value and employing over 5000 people across 25 locations worldwide.

LGT Bank, Building from the outside

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. 

People around a screen

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.

With the program, LGT has created a new avenue to empower employees to contribute and actively participate in shaping their environment. LGT wanted to improve employee collaboration and introduce an innovation process that is visible across the whole company. 

 
 

The Results

 

Just 12 months after launch, LGT had 750 users worldwide and over 40 new ideas submitted from across all locations. Employees developed their ideas with strong commitment and passion. The community has since grown to over 1,200 members, with 52 ideas validated, 14 ideas in the pilot phase, and 4 ideas starting the implementation phase.

„The feedback we have received from participating employees has been positive across the board. The intrapreneurial spirit is palpable.“ says Christina Feichtinger, Innovation Manager at LGT. The program positively influences company culture by fostering an innovator’s mindset and ownership. It also supports the development of agile work methods by enabling employees to actively shape their environment.

While LGT uses the program to drive new business ideas and stay future-ready, they’ve also seen “positive knock-on effects,” including a transformative mindset and greater awareness of digital transformation.

 

Download the Case Study
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