Whether it is an enterprise, organization, group, or an individual, there is the objective of continuous improvement. At an individual level, it is not too hard to understand the need to everyday become a better version of ourselves. However, why are teams so desperate to adapt, evolve, and innovate? Does it not lead to a hustle culture which causes more burn out and stress among the employees? In fact, there are hardly any case studies that showed a company wisely decided not to adapt, evolve, or innovate, and they were successful. What we see time and again is companies that failed because they were too slow to adapt or did not adapt at all, leading to bankruptcy.
Many times the reason to adapt, evolve, and innovate is due to monetary rewards or fear (think carrot or stick). Some of the biggest fears are losing a competitive advantage. So many companies are currently using large language models (think ChatGPT) in their businesses. If that drive comes from a place of fear such as losing competitive advantage, it would lead to stress and burnout for the employees. An often-quoted continuous improvement is to improve cost efficiency. Finding ways to operate at lower cost (that basically is the same as monetary reward) can also lead to stress. However, what if the driving force for innovation is just curiosity, such as “let us see what this can do for us”?
There are many other carrots and sticks used by organizations to adapt, evolve, and innovate. To stay relevant (a big fear) and meet the evolving demands of the market, companies try to innovate to adapt to these changes. In fact, at the individual level also we retrain ourselves to not become obsolete (a stick). Another fear is the notion that talented individuals are often attracted to innovative and dynamic workplaces. Fear of losing out these talented folks makes life miserable for the rest of the company as now everyone tries extraordinarily hard. On the carrot side is customer satisfaction that can contribute to the long-term success of a business. Adapting to global needs can be another carrot.
While innovation is crucial for many industries, certain businesses thrive by maintaining a focus on stability, reliability, and consistency. Industries that produce essential goods and services, such as food, basic healthcare products, healthcare services, and household goods, may prioritize stability. These products have consistent demand, and consumers often look for reliability and familiarity in these areas. Also, in industries where products or services have reached a mature stage and customer preferences are relatively stable, companies may prioritize maintaining consistent quality and reliability rather than pushing for constant innovation.
Let us return to the sentence in the first paragraph above: At an individual level, it is not too hard to understand the need to everyday become a better version of ourselves. If you think about it, there are aspects where we, as individuals choose to stay consistent which we call habits (like exercise, food, chores). While in other aspects such as personality, knowledge, and relationships we strive to improve ourselves continuously. Here are some things to consider while trying to adapt, evolve, and innovate.
Intrinsic versus extrinsic motivation
In some industries, a reluctance to improve or innovate can lead to a range of negative consequences, from loss of competitiveness and customer dissatisfaction to challenges in adapting to a rapidly changing business environment. Also, a successful improvement can be driven by financial growth. This kind of carrot or stick approach is extrinsic motivation which can lead to burnout or stress. The idea is to see find the intrinsic motivation in pursuing new things. Values and purpose are two big ones. Joy is another intrinsic motivator.
Going back is also considered as evolving
A couple of decades ago many grocery stores started to use self-checkout lanes. The idea was that if the shoppers were kept busy “checking out” as opposed to “waiting in line” at a human counter, they would not feel like they are waiting (in fact, that is why they also place tabloids on those shelves, to keep folks entertained while they wait). Recently many grocery stores have decided to “evolve” by cutting back on those lanes because customers crave the human interaction. Plus, with smart phones, who needs the tabloids?
Weighing trade offs while doing good
Innovations in technology, processes, and products that promote sustainability can enhance a company’s reputation and appeal to environmentally conscious consumers. However, even under such noble causes, the effects they would have could also be considered (such as the skilled labor in a non-sustainable industry) and amply compensated. Same goes with industries where people are getting replaced by robots. Instead of replacing, one could perhaps find ways to incorporate the workforce into other purposes.
In summary, it may be possible after all to foster innovation with minimal stress and burnout.