As you read this, many of the people on your team may be plotting their escape. A recent Gallup poll found that 54 percent of workers are “psychologically unattached to their work and company”—and that makes them very hard to rally to your cause. Across the American economy, those disengaged employees translate into billions of dollars of losses.
Why are they disengaged? Take your pick from a host of explanations. The pandemic inspired many people to reconsider their lives. Meanwhile, millennials are projected to make up 75 percent of the global workforce by 2025, and they have been known for a hyper-focus on meaningful work that aligns with their beliefs (which isn’t something every job offers). Now Gen Z is entering the workforce and exhibits strong entrepreneurial ambitions; when EY Ripples and JA Worldwide surveyed nearly 6,000 members of Gen Z who participated in JA programs, for example, it found that 53 percent say they aspire to run their own business within a decade.
In short: People want more control. They want to engage in more nonlinear thinking that allows for an expansive and creative way of finding solutions to problems. And if leaders want to engage these inspiring workers, and harness their energy and ideas, they will need to pursue a concept that is decades old—but that still hasn’t made its way into many company cultures.
It is intrapreneurship.
The term intrapreneur was coined in 1978 by Libba and Gifford Pinchot, the married founders of the consulting firm Pinchot & Company, and appeared in a white paper they wrote at the time. Today, a more concise definition has been offered by Sir Richard Branson: “An employee who is given freedom and financial support to create new products, services, and systems who does not have to follow the company’s usual routines or protocol.”
Continue reading your story on the app
Continue reading your story in the magazine
Facing a Hard Choice? Get Out of Your Head
When we look at a decision through someone else’s eyes, change becomes a lot easier to make.
Don't Compete. Differentiate!
Want to scale your business? Stop worrying about the competition, and focus on these three areas instead.
100 Women Of Impact – Eva Longoria
Eva Longoria became famous as an actress, but her real mission was to be the boss—and then give opportunities to women who might never otherwise get them.
Where Change Leads You
The process can be painful, but the goal is profound: Find something new that you’d never want to lose.
The Big Are Getting Bigger
Major acquisitions. Consolidations. Conglomerates. What’s going on in franchising? The answer says a lot about where the industry is heading—and what growth means going forward.
Innovation Comes from Intrapreneurs
Employees say they’re unhappy. Companies are struggling to navigate massive change. The solution to both? It’s creating a culture of intrapreneurship.
Lessons That Are Worth Billions
How did Michael Dell build one of the most valuable technology companies in the world? By being willing to try, fail, and learn.
Mapping the Route to Success
The tourism industry is ready for a comeback, and travel agents are proving their worth like never before.
What Did You Cut?
To stay agile, business owners must often rethink what they truly need. We asked six entrepreneurs: What expenses have you realized your company is better off without?
Making the First Sale
My sales career was almost cut short by my parents.
The World Kodak Made
The tech giant of the 20th century changed the way Americans saw themselves and their country— and built the city where it made its home. Now Kodak and Rochester are trying to reinvent themselves, and escape their history.
FOR THE LOVE OF A FILM ROLL
A QUEBEC PHOTOGRAPHER DECIDED TO IGNORE THE MODERN DIGITAL CAMERAS. INSTEAD, HE TURNED HIS EYES TO THE OLD FORGOTTEN CAMERAS. A SMALL ROOM INSIDE OF HIS HOUSE BECAME "THE DARKROOM."
Chasing the Milky Way... and a comet
A passion that can’t be pursued in the big cities
SPYKE & MIKE
It’s unbelievable what has happened over the past few months, my BTR friends.
Going a New Direction
For the last few years that I’ve written the Bench Tips column, I’ve focused on lapidary topics and projects.
Describe yourself in three words
Innovation Comes from Intrapreneurs
Employees say they’re unhappy. Companies are struggling to navigate massive change. The solution to both? It’s creating a culture of intrapreneurship
We’ve joined up with online photo game GuruShots to print the winning images from the Dusk & Dawn challenge
The Bonhomie Of Nenmara Vallangi Vela
The season beckons to rejoice in the festive spirit and soak in the beautiful milieu of colors, fireworks, light, and art forms for a mesmerising and unforgettable experience.
Growing through adversity
Resilience should not occur in the face of adversity. One has to plan for it in advance, anticipating unexpected disruption.