More and more businesses are realizing the importance of nurturing innovative entrepreneurs among their employees to help drive growth. But what are the top strategies to promote innovation within the business? Latest research by Regus, a flexible workspace provider, reports that a majority of business people in India think training is key.
Given the increasing importance placed on developing entrepreneurship within the business by companies such as Google and Dell, the survey asked respondents to identify which measures they regarded as critical for nurturing so-called intrepreneurs and found that more than half of Indian firms selected skills updating program (55 percent). This was followed by flexible work environments (48 percent), mixing staff from different functions (36 percent), and access to senior management (32 percent).
These are the key findings of the latest research by Regus that canvassed the views of more than 19,000 senior business people and owners in 98 countries, and some 495 Indian respondents participated in the survey.
“With small businesses accounting for more than 90 percent of businesses, it is evident why entrepreneurship should be fostered and nurtured. But businesses have cottoned on to the powerful innovative drive of entrepreneurs, too, and are looking to foster entrepreneurship among their own employees,” says Regus chief operating officer Sahil Verma.
Some additional survey highlights include:
- 24 percent report that formal innovation program are a key innovation driver
- 92 percent think entrepreneurship has increased in the past five years in their sector
- 6 percent state that female entrepreneurship is on the rise
- 11 percent say that serial entrepreneurship (people who set up a series of new businesses, one after the other) is increasing.
So how can organizations encourage entrepreneurial behavior?
According to Verma, “Flexible working not only taps into employee demand for a better work/life balance, by allowing them to work their own hours and from different locations, but it also helps employees mingle with workers from different functions, and even different firms, vastly widening their outlook and experience. Flexibility and diverse inputs can really help employees think outside the box and seek out innovation.”
Learn more at Regus.