Whenever new ideas and innovations are lacking, or the company is stuck, an Innovation Tournament is an excellent way to add further impetus.
Such a tournament creates new momentum and fosters innovation and a change in the mindset. Over time, employees will challenge the status quo and become more solution-oriented. Winners receive full ownership and budget, time, resources, and a team to implement their idea. As a result, an Innovation Tournament can be a lot of fun and will spark enthusiasm to experiment with new ideas.
However, an Innovation Tournament needs to be implemented regularly to maximize its benefits. Fear of failure or uncertainties can hinder employees from participating in such events. It can take a few rounds until most feel comfortable and safe enough to sign up.
At this point, it is essential to mention that failures can and will happen. That is why it is crucial not to impose any punishments on the team, but to set an example to learn from their mistakes. Such an example will also help employees feel confident enough to get involved in the competition. If employees feel safe to experiment, then Innovation Tournaments will add new momentum.
How to run an Innovation Tournament
1. Provide access: Set up a physical or online platform that can be easily accessible by everyone.
2. Inform: Send an invitation and provide insights about how that tournament works and why it might be worthwhile to participate.
3. Collect ideas: Collect suggestions and add them to the platform for several weeks. Management should not preselect or review them first. Allow transparency and accept any idea which is coming up. Otherwise, frustration and demotivation will rise due to disappointment.
4. Vote: Employees should be able to vote on the listed proposals.
5. Choose a winner: Conduct an event and announce one or several winners based on the highest-ranked ideas.
6. Implement the solution: The winner(s) should receive full ownership, budget, time, resources, and a team to implement the concept.
Conclusion
Innovation Tournaments will motivate your employees, ignite their inner innovation spirit, and finally, they will find new solutions to existing problems! Give it a try and see the magic happen!