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How can you inspire innovation and risk-taking in your employees?

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Innovation and risk-taking are essential for any organization that wants to stay ahead of the competition, adapt to changing customer needs, and foster a culture of creativity and learning. But how can you encourage your employees to embrace these qualities and overcome the fear of failure or criticism? Here are some practical tips to inspire innovation and risk-taking in your employees.

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Marta Simeonova

Executive Coach I Global HR Director
Dave Shepherd, CHRE, ICD.D

Coach. Leader. Mentor. Advisor. | Pressure is a Privilege. Champions Adapt |
Terry Weir

Senior Sales Consultant | Recruitment Advisor | Talent Auditor | Workshop Facilitator | Certified Analyst in Workplace…

1 Create a safe environment

One of the most important factors for fostering innovation and risk-taking is creating a safe environment where employees feel comfortable to share their ideas, experiment with new approaches, and learn from their mistakes. A safe environment is one where employees are not punished or blamed for failures, but rather supported and coached to improve. It is also one where employees are not afraid to challenge the status quo, voice their opinions, and give and receive constructive feedback. To create a safe environment, you need to model the behaviors you want to see, communicate your expectations and values clearly, and reward and recognize the efforts and achievements of your employees.

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Marta Simeonova

Executive Coach I Global HR Director
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Creating a culture of experimentation is key for employees feeling safe to share and try out new ideas. The success of a new process or undertaking should not be a matter of life or death. Let employees play with ideas and new ways of doing things. Show them the importance of flexibility - if something does not work as expected, evaluate, adjust and keep going. And put learning at top of your team's shared values. You can learn just as much, if not more, from failures than from success. And by learning from it each failure will contribute to your team members' growth.

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2 Provide resources and tools

Another way to inspire innovation and risk-taking is to provide your employees with the necessary resources and tools to pursue their ideas and projects. This may include time, budget, training, equipment, software, or access to mentors and experts. Providing resources and tools shows that you trust your employees, value their contributions, and support their growth and development. It also enables your employees to explore different possibilities, test their assumptions, and refine their solutions. To provide resources and tools, you need to understand your employees' needs and goals, allocate resources strategically and flexibly, and facilitate collaboration and knowledge sharing.

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3 Solicit and implement feedback

A third way to inspire innovation and risk-taking is to solicit and implement feedback from your employees, customers, and other stakeholders. Feedback is vital for improving the quality and relevance of your products and services, as well as for identifying new opportunities and challenges. Feedback also helps your employees to learn from their experiences, validate their ideas, and adjust their actions accordingly. To solicit and implement feedback, you need to establish regular and effective channels of communication, ask open-ended and specific questions, listen actively and empathetically, and act on the feedback you receive.

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4 Celebrate successes and failures

A fourth way to inspire innovation and risk-taking is to celebrate both the successes and failures of your employees. Celebrating successes is important for acknowledging the achievements and impact of your employees, as well as for motivating and inspiring them to continue innovating and taking risks. Celebrating failures is equally important for recognizing the efforts and learnings of your employees, as well as for normalizing and destigmatizing failure as part of the innovation process. To celebrate successes and failures, you need to share the stories and lessons of your employees, highlight the positive aspects and outcomes, and express gratitude and appreciation.

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5 Challenge and empower your employees

A fifth way to inspire innovation and risk-taking is to challenge and empower your employees to take ownership of their work and decisions. Challenging your employees means giving them stretch assignments, stimulating their curiosity, and encouraging them to think outside the box. Empowering your employees means giving them autonomy, authority, and accountability for their work and decisions. Challenging and empowering your employees helps them to develop new skills, discover new insights, and unleash their potential. To challenge and empower your employees, you need to set clear and realistic goals, delegate and trust your employees, and coach and mentor them.

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Dave Shepherd, CHRE, ICD.D

Coach. Leader. Mentor. Advisor. | Pressure is a Privilege. Champions Adapt |
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If the culture of the business relates to risk taking and taking chances as an entrepreneur, and if the recruiting efforts have found candidates that are aligned with this culture, it makes it easy to challenge and empower your employees. HRs role will be of support in this situation providing guidance. Front line managers are the day in day out responsible people who need to drive this effort.

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6 Lead by example

A sixth and final way to inspire innovation and risk-taking is to lead by example and demonstrate the behaviors and attitudes you want to see in your employees. Leading by example means showing your passion and vision for innovation, taking calculated risks and experimenting with new ideas, seeking and acting on feedback, learning from your successes and failures, and challenging and empowering yourself and others. Leading by example also means being authentic, transparent, and humble, and admitting your mistakes and limitations. Leading by example inspires your employees to follow your lead, emulate your actions, and respect your authority.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Terry Weir

Senior Sales Consultant | Recruitment Advisor | Talent Auditor | Workshop Facilitator | Certified Analyst in Workplace Behaviour, Aptitude, EI, Personality, Leadership Potential & Team Performance | Speaker
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Innovation is (in part) a byproduct of intelligence and curiosity. You can provide people with knowledge, but you cannot make someone more intelligent. There’s a difference, and it matters. Tolerance for risk taking can be subtly nudged in a desired direction - but if you think you can change a person from strongly risk averse to willing risk taker by convincing them it’s a good idea…good luck with that. If innovation and risk taking are critical for a role, or a business unit within your company, you would be much better off identifying candidates who already possess these traits than trying to artificially create them in people who haven’t had them their entire lives.

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How can you inspire innovation and risk-taking in your employees?

1

2

3

4

5

6

7

1 Create a safe environment

2 Provide resources and tools

3 Solicit and implement feedback

4 Celebrate successes and failures

5 Challenge and empower your employees

6 Lead by example

7 Here’s what else to consider

HR Operations

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How can you inspire innovation and risk-taking in your employees?

1

2

3

4

5

6

7

1 Create a safe environment

2 Provide resources and tools

3 Solicit and implement feedback

4 Celebrate successes and failures

5 Challenge and empower your employees

6 Lead by example

7 Here’s what else to consider

HR Operations

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