Asian organisations are optimistic about achieving innovation but important workplace frameworks are not in place to bring this to fruition, according to PageUp's "Driving a Culture Innovation" study.
It was revealed that although Asian businesses are slightly more likely to recognise and reward innovation than their international peers (56 percent versus 53 percent), only 41 percent have established performance management practices to do so - which is a key factor to building a culture of innovation.
"It's promising to see businesses in Asia optimistic about achieving innovation, but there is still work to be done to ensure the processes are in place to execute this in a meaningful and sustainable way," said Rebecca Skilbeck, Global Market Researcher at PageUp, in a press release.
In line, greater emphasis must be given in acquiring talent who will champion innovation, advised Jerry Collier, Director of Innovation for Alexander Mann Solutions. "This means they must re-orient their recruitment strategies to identify these qualities in new employees, while continuing to develop those already in the organisation who demonstrate these skills."
The study found that while human resource (HR) and talent management practices are critical to support sustainable innovation, HR has yet to deliver.
In fact, HR professionals are more confident than their non-HR peers (80 percent versus 67 percent) on their role in driving enterprise-wide innovation, and were nearly twice as likely to believe they are currently driving innovation in their organisation (43 percent versus 24 percent).
Compared globally, Asian organisations scored higher for training employees to be innovative and creative (57 percent versus 39 percent), which can help drive enterprise-wide innovation. They also much more likely to have an established or mature practices to equip the employees with innovation skills (43 percent versus 28 percent).
"The benefits HR can drive - through talent acquisition, performance management, talent mobility, diversity and engagement programmes as well as learning and development opportunities that support a culture of innovation - are irrefutable. The HR industry has a very ripe opportunity to shift internal perceptions, increase its value proposition and start delivering on the promise of sustainable innovation that contributes to the organisation's bottom line," explained Skilbeck.
The study was conducted by PageUp, a multinational talent management Software-as-a-Service (SaaS) provider, with Alexander Mann Solutions. It drew insights from 322 business and HR professionals globally, including 99 respondents in Asia, to understand the culture of innovation in their organisations and the maturity of their current talent management practices.
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