CIOs who foster a culture of equality empower innovation | CIO
Today’s world is characterized by constant change stemming from widespread business disruption, which is caused in large part by emerging technologies. To be competitive in such a world, companies must adopt an agile, innovation mindset to identify and invest in new markets, experiences, products and services for growth — and do so nimbly and react quickly to continually changing market dynamics.
What does it take to create that innovation mindset? It turns out a culture of equality, or a workplace environment that equally helps everyone advance to higher positions, is the key.
CIOs have always played a significant role in determining how innovative their company is. Their visibility across the business — from R&D, to marketing, operations, sales and distribution — uniquely positions them to be true champions of innovation. The CIOs who are relentlessly innovative are building distinctive services at the enterprise level and increasing agility by simplifying IT architecture, operating models and work processes. Further, they’re leading by example by becoming digital transformation leaders.
Now CIOs need to take the next step by helping to create a culture of equality – both within the IT department, as well as across the organization – to further foster innovation and growth.
New research from Accenture shows that a culture of equality has the power to drive employees’ willingness and ability to innovate. (Note: I am employee at Accenture.) It has more impact than age or gender and leads to an increase in innovation in all industries and all countries. When you boil that down, it means that if people feel a sense of belonging and are valued by their employers for their unique contributions, perspectives and circumstances, they are empowered to innovate more. Therefore, it’s critical that CIOs create an inclusive environment.
Accenture research shows that nearly everyone across every organization wants — and needs — to innovate. Ninety-five percent of business leaders see innovation as vital to competitiveness and business viability, and 91% of employees want to be innovative. But while 76% of leaders say they regularly empower employees to be innovative, only 42% of employees agree. It seems leaders mistakenly believe they’re encouraging innovation more than they actually do. For instance, they overestimate financial rewards (which are still important) and underestimate purpose as a motivator to innovate.
A culture of equality: 3 pillars
How can CIOs contribute to building this culture of equality among their own teams and across their organizations? First, they have to understand what a culture of equality is composed of. It’s anchored by three pillars:
The CIO’s role in creating an empowering environment
Accenture research shows that of those three pillars, an “empowering environment” is by far the most important when it comes to enabling innovation. Within that pillar, there are specific actions CIOs can help take to make the biggest impact.
Creating a culture of equality has never been more important for driving innovation and competitive agility. Consider this – even having employees with an advanced degree or who have studied a STEM subject at college has a less-powerful impact on workers’ willingness and ability to innovate than culture factors do. When people feel valued and a sense of belonging, they are more likely to advance and feel empowered to think outside of the box.
And the role for CIOs and leadership teams is clear – by setting the right tone from the top, together they can unlock this unprecedented opportunity.