INNOVATION BY ALL.
How do you encourage it? How do you harness it? And most important, how do you make sure you’re not stifling it? As we talked to top-performing companies of every size and across every industry on our 22nd annual list, the challenge of getting the best ideas from all your employees is the theme that came up more than any other. One obvious example is at our new No. 1: Hilton. Relying on a Millennial Team Member Resource Group is just one of the ways this 100-year-old hospitality company is making sure all employees (in this case, its youngest) get a chance to contribute their best ideas. Attempting to “actively solicit input, new ideas, learnings, and experiences” has become paramount, says Hilton’s chief human resources officer Matthew Schuyler.
Elsewhere on our list, Cisco (No. 6) is developing more and more programs to seed innovation, such as an annual companywide competition in which employees can “invest” tokens in the best ideas (the contest has led to seven proofs of concept and eight patents). Indeed, this list includes dozens of role models for encouraging innovation (which is also the theme of our February Great Place to Work for All Summit). Still, we wondered: Could this magic formula be quantified?
This past summer, the team of data scientists and researchers at Great Place to Work set out to discover what helps set these organizations apart from their peers. As a result, we developed a new metric, which we call the Innovation Velocity Ratio (IVR). It’s a measure that quantifies the friction a company’s employees experience when it comes to having opportunities to develop new ideas, products, or processes. The lower your friction, the higher your score.
This story is from the March 2019 edition of Fortune.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2019 edition of Fortune.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
AI Isn't Coming for Your Job At Least Not Yet
So far, the technology has replaced only a small number of workers. But the future risks many more.
THE TRUTH EVEN HE CAN'T DUCK
Aflac's DAN AMOS has spent his 34 years as CEO selling insurance against illness and death. Now he has to confront his aging customers' mortality and his own.
THE NEW HOLLYWOOD POWER PARADIGM
Inside the sisterhood of stars changing the narrative.
SAUDI ARABIA'S POWER PIPELINE
The oil earnings flowing from the most profitable company in history are helping the Saudi kingdom shake up the global economyand the old geopolitical order.
THE [FOREVER] FOUNDER
Michael Dell turned his dorm-room PC company into the go-to hardware provider for 99% of the Fortune 500. Now the longest-standing founder-CEO in tech has a chance to cash in on the AI bbom—and make himself and his company bigger than ever.
HOW BOEING BROKE DOWN
Boeing's strategy sent the stock soaring more than 1,000% over 20 years. But it contained dangerous flaws that are only now coming into view amid a drumbeat of terrible news.
The Art of Banking
To appeal to the ultrawealthy, banks like UBS keep fine art-and art expertsclose at hand.
Is the Bitcoin Bull Market Safe to Buy?
ETFs have made Bitcoin investing easier than ever. But they may be adding air to a bubble.
Goodbye, Tough Guy
More executives are going on all-male retreats to open up, feel less lonely, and build empathy.
Memo to Silicon Valley: Bring It On
New York City's Runway was the pioneering leader in Al-generated video for years. Now ChatGPT maker OpenAl is coming for it.