The bigger the business, the harder it can be to innovate and implement change.
With almost five million employees between them, no group of companies is better placed than the FTSE 100 to demonstrate the power of employee-led innovation in staying ahead.
This report highlights three key trends consistent across leading companies.
In this ever-evolving world, it's a cut-throat reality that companies either innovate or die, and the history of big business is bursting with cautionary tales of those who failed to strike while the iron was hot – Blockbuster, anyone?
The data is clear: FTSE 100 companies are focusing more than ever before on ideation, transformation and innovation to ensure that they not just survive, but thrive.
Innovation distinguishes between aSteve Jobs
leader and a follower.
The fact of the matter is, employees are the single largest cost of any business. Fail to engage them and they will leave, costing £30,000 on average to be replaced (Gallup).
It should come as no surprise that the data shows FTSE 100 companies are talking more than ever about employee engagement, with a 41% rise between 2016 and 2018 in mentions across their annual reports.
When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.Simon Sinek Author of 'Start With Why'
It's more important than ever before for C-suite teams to connect with their workforce. Low CEO approval leads to low morale and, usually, even lower productivity levels.
Across the world, businesses are benefiting from the rise of the 'listening leader', and data shows that the happiest employees are those who really rate their leaders.
These C-suite champions are actively listening to the ideas, insights and inputs of their employees as a key part of their leadership strategy, reaping invaluable benefits for their efforts.
The FTSE 100 Innovation Index