Culture, equality and diversity essential for innovation

An equal and diverse workplace culture is an essential part of innovation and growth, according to Accenture research. According to the research report Getting to Equal 2019, the mindset for innovation is almost five times higher among employees working in a robust culture of equality, where everyone can progress and thrive than in companies where this is not the case.

Accenture predicts that global gross national product (GNP) could rise to $8 trillion as employees become empowered to innovate. “In this time of widespread disruption, companies need to respond with constant innovation to stay profitable,” said Julie Sweet, CEO for North America at Accenture. “Our research provides a roadmap for creating an equal culture, which is essential to enable innovation, competitiveness and growth.

According to the study, the vast majority of top people worldwide agree with this. 95% see innovation as a vital component of competitiveness and business viability. However, while 76% say they empower workers to innovate, only 39% of US workers agree.

For example, top people seem to attach too much value to financial rewards, and underestimate having a goal as a motivation for employees to innovate. In an equality culture, the strongest factors behind an innovation concept are the empowerment of employees, for example by offering relevant skills training, flexible working arrangements and respect for work-life balance, according to Accenture.

Creating innovation

The research shows that empowerment is the most important of the three categories of an equality culture to create innovation. The more people say they work in an empowered environment, the higher they score on innovation ideas. For example, American workers in robust equality cultures are seven times more likely to say that nothing prevents them from innovating (44 percent versus 6 percent).

In addition, diversity is an important component. The report states that the impact of diversity factors on itself – for example, a diverse team of leaders – is significant, but when coupled with an equality culture, the innovation mindset in American companies is eight times greater.