The future of product development, creativity, and innovation does not lie with a small group of upper management individuals in your company. The future of your business cannot afford to be so limited in scope that it excludes the thoughts and innovative ideas of all other employees.
Many companies are learning to accept more insights from lower-level employees. The Top 3 Reasons these businesses are amassing all employee brainpower are:
1. Allowing for more than just the loudest voice to be heard.
By creating a system for “internal markets” or even games of betting anonymously on product development ideas, all individuals can give input without feeling silly or without being degraded for their opinions.
2. Acquiring knowledge from various areas of expertise.
Upper management can tend to be a small group of similarly minded people. By gathering input from all areas of the company, product development will benefit.
3. Giving employees a sense of belonging within the organization.
While you gain predictions on product pricing or sales figures, your employees are discovering that their input matters. Feeling involved will make your employees want to participate more in the future and will even instill in them company loyalty.
Source: Erick Schonfeld, “The Wisdom of the Corporate Crowd”, Business 2.0, September 2006, Pages 47–49