Companies often fail to innovate because they neglect to acknowledge and compensate their employees for their contributions to innovation. When you neglect to offer credit or consistently reward people who manage teams rather than those involved in the ideation of an original notion, other team members become disheartened and quickly lose the motivation to think creatively.
Individuals who contribute to your innovation goals must be recognised as part of a successful innovation strategy. Remember that acknowledging desired inventive behaviours encourages them and builds an innovation culture.
Also, keep in mind that everyone has different strengths, so some people will perform better at different stages of the innovation process than others. As a result, you must frequently reward and acknowledge at every level of the innovation process, from ideation to execution. Financial incentives such as gift cards or bonuses, paid time off, office parties, company-wide communications, awards, workspace decorations, or a celebration hub and digital wall of fame are all options. Whatever incentive works best for your corporate culture, make sure to praise and recognize team members for their creative ideas.