Wall Street Journal Blogs:
1. Organize small groups. Research suggests employees in small groups or teams rather than one person in a large organization feel they have more ability to innovate, share ideas and influence.
2. Share profits. Whether it’s setting up an employee stock-ownership plan (ESOP), a profit-sharing plan, or even an annual bonus, somehow let employees share in the company’s financial success. Then open the financial books so employees can see how their efforts impact the bottom line.
3. Embrace failure. Make it clear that failures are embraced and learned from as much as successes. Employees won’t take risks if they worry about being blamed or punished for mistakes.
4. Reward ideas. Encourage employees to implement ideas they come up with – and make idea generation a big part of the culture, such as giving financial gifts to employees whose ideas are implemented to frequent brainstorming. So-called open-door policies aren’t enough.
5. Promote risk takers. If others see risk takers thrive, they’re more likely to follow suit.
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