If You Want More Innovation, Celebrate Success

Rewarding and recognizing the contributions of innovation originators is crucial to a successful innovation process. Broadcasting the news of successful innovation can positively impact employees, clients, and competitors, making it essential to place the story in internal and external media outlets. The traditional approach of waiting a year to reward originators can lead to larger payouts but can also create divisiveness when multiple people contributed. A more modern approach involves rewarding contributors quickly with small incentives as soon as an idea enters the pipeline. Approaches for recognizing contributors include gift vouchers, innovative gifts, dinners, and even awards ceremonies. Celebrating successful innovation ideas is crucial to creating a positive and motivated workplace conducive to further innovation.