There are an estimated 11,000 businesses launched per hour globally with as many as 90% eventually failing. The way organisations view innovation can be the difference between their survival and their demise.
Despite the importance of innovation, only 34% of executives believed they had the right strategy in place. Companies know innovation matters but are unsure how to go from talking about it to doing. HR can help with this challenge as it can drive innovation in a strategic way by ensuring the right talent is hired and present in the organisation, and the right culture and processes are implemented so that innovative people can act and be rewarded accordingly.