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Innovation: Role Of HRM In Promoting Innovation

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Role of HRM in Promoting Innovation
Prof. PoonamRawat* Madhushree Dhopte**AbhijeetChinchkotkar ***
Abstract:
Business leader across the world have widely accepted that innovation is vital for both competitive advantage and long term success. The ability to innovate has become an important predictor of future growth. The dynamic business environment requires companies as well as their HR teams to think out-of-the box, and come up with innovative approaches to survive the downturn and hold employees together. Studies strongly show that the most successful corporate innovation strategies are the ones that predominantly focus on people and human capital. These include finding, engaging and incentivizing key talent for innovation, creating a culture …show more content…

HRM practices are the main methods for organizations to influence and shape attitude, behaviour and skills of individuals to perform at work and hence to achieve the goals of the organization. Several studies has concluded that organisations should develop a system of internally consistent HRM practices (Jiménez-Jiménez &Sanz-Valle, 2005; Laursen& Foss, 2003) since a system with mutually reinforcing practices are the most beneficial to innovation performance rather than isolated HRM practices
• Staffing: includes organizational practices to attract, recruit and retain employees with traits that support innovations, it is argued to be a key practice in order to affect innovation
• Job design: that increases autonomy and focus on empowerment were found to influence the motivation for being creative, to contribute to innovations (Jiang et al., 2012) and to generate more product innovations.
• Job rotation : Jiang et al., (2012) proposed that job rotation and flexible working hours were positively related to technological innovations and were especially associated with radical innovations, but not with incremental …show more content…

Research shows there are proven methods of improving the innovation process in the brain. Capital One Financial provides employee teams with the time, tools, training and settings to address specific business challenges in creative ways.
8. Put in place a formalized or structured idea/innovation review process.
When the creative ideas come flowing in, the next step is to create gates that allow purposeful review of those ideas, so that budgets for new projects can be allocated correctly.
9. Track innovation talent at both the college undergraduate and/or graduate level.
Innovation is one of the largest differentiators between high- and low-performing organizations, and the battle for that innovative talent is heating up. The most effective companies find the brightest minds earlier than their competitors -- sometimes even before graduation. Qualcomm leverages an intern program to attract technical talent from top universities, and encourages its best performers to return to their schools as "campus ambassadors."
10. Reward innovation via more engaging work and/or autonomy
Creative types aren't always motivated by money -- for them, the work is the reward. Creative minds should be allowed flexibility and the required space to

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