The AIF International Symposium 2017 will explore the relationship between innovation and improving business productivity and performance. The Symposium will address this critical issue from the context of human capital development and talent management with particular focus on the strategic role of HR.
As technological disruption breaks down markets and creates new ones, a company’s ability to innovate – to introduce new ideas, methods and products – is vital. In fact, innovation has become a core driver of future business performance and growth. At the same time with labour costs most often being the greatest expense on company balance sheets, productivity is equally crucial in today’s business climate. Productivity means much more than simply getting your employees to work longer hours and take on more tasks – it is about working effectively and focussing on value adding activities.
How can companies foster innovation and ensure it drives future business performance and productivity in this time of technological disruption? As with most challenges in business, the solution comes down to people. Organisations will need to ensure they have the right talent with the right skills, while encouraging a culture of innovation where employees are encouraged to come up with new ideas and try new things. While this is ultimately the responsibility of senior management, practically this will need to be championed and delivered by HR taking the lead. HR professionals will need to ensure their organisations have effective people strategies and processes in place to foster a culture of innovation and deliver future productivity gains and improved business performance.