$1000 to Every Employee to Execute on their Idea: Wow!
And it looks like lots of fun! Employees are given a red box – in the box is a pre-paid credit card to the value of $1000, and an innovation guide that walks the team member through a six step recess from idea to execution. And, if they get to a certain level of trial with their idea – they get to open a blue box!
I find this concept fascinating for a number of reasons. First, the 2006 study by IBM of CEOs, quizzing them as to where the best ideas come from, showed that they come from employees, partners and customers. So Adobe is actively looking to engage employees to come up with ideas. We get that. However, they are going one step further by actually giving them the cash up front to implement their idea, rather than asking them to pitch for funds. Not only does this encourage the team member to ideate, it also actively pushes them to get going and implement a MVP that demonstrates a) their idea and b) how resourceful they are in utilising the funds.
At The Strategy Group we are very excited about this concept. If you would like to talk to us about implementing a similar program in your organisation, just call.
The following video explains the program in more detail.
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Managing Director, The Strategy Group
Dr Tobias is an accomplished innovation consultant and entrepreneurship strategist, drawing expertise from the academic, entrepreneurial and corporate worlds. Jeffrey’s commercial and business experience is particularly focussed on lean startup, design thinking and leadership. Prior to The Strategy Group, Jeffrey was Cisco’s Global Lead for Innovation in the Internet Business Solutions Group helping Fortune Global 500 companies improve customer experience and grow revenue by transforming how they do business.
Jeffrey is a professor of innovation and entrepreneurship teaching MBA students at the Australian Graduate School of Business at the University of New South Wales. An active angel investor, Jeffrey is on the board of various well known startups. Jeffrey’s corporate background includes leading global innovation strategy at Cisco, working with large corporates such as Adobe, Westpac, Telstra, Woolworths, and Perpetual.
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