Innovation is a buzz word in this transitional time when digital, social, and environmental changes are unfolding. According to the CB-Insights, 84.9% of company leaders surveyed says, "innovation is very important for their future."1
For companies, innovation is about spending “ideas” to generate money and it can be divided in two categories; breakthrough and incremental. The former type of innovation is taking disruptive paths running risks. Moreover, the latter is taking small steps to make gradual changes. Most companies focus on the latter. 2 Moreover, interestingly, 50% of the innovation is more built in their own company than from M&A. 3
Also, high performing companies (the top 15% of financial performance of their industry) tend to report high levels of innovation 10 times more than low performers. 4 Although, What you might want to remember is that not only high performers seek innovation, but low performers also strive for innovation for their future.
The data might be worth considering when you look for your potential hire.
2. Ibid., P.12
3. Ibid., P.25
4. Ibid., P.18
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