S P OT LI G H T
CASE STUDY:
THREE INNOVATION
PROGRAMS THAT SHINE
Ideas are everywhere! Learn how three companies
operate employee-driven idea programs that have
generated some of their best advancements.
While more than 70% of senior
executives count innovation in their
top three drivers of growth,
ONLY 35% SAY THEY ARE
CONFIDENT ABOUT THEIR
INNOVATION EFFORTS.
Although internal idea programs should complement
a company’s unique culture and processes, you can learn
a lot from the successes of other businesses. Take a look
at just a few examples of idea systems done right.
Airline Flushes Wasteful Spending
When British Airways was facing tough economic times
and mounting pressure from environmentalists to cut
emissions on its aircraft, it reached out to employees to
help solve the specific problem of cutting fuel bills. Via
an online suggestion portal, one employee had an unusual
idea: descale the toilet pipes to reduce airplane weight. The
result was a $900,000 reduction in fuel cost and satisfied
environmental groups.
3M Finds an Idea that Sticks
� What additional resources will be needed to
execute the idea? Where will we get them?
� What is a reasonable timeline and budget
for testing and development?
� Can we afford implementation? If not, how
will we fund it?
Many already know the story of how a failed invention
was cleverly repurposed by 3M scientist Art Fry to develop
the Post-It Note. What some don’t know is that this eureka
moment happened during Fry’s “15 Percent Time,” a com-
pany innovation program that allows employees to use
up to 15% of their work day to develop and test their own
ideas. Google has since adopted a similar program allowing
employees 20% of their work day to dream big.
Software Employees Invest in Each Other
PRIORITIZE THE BEST CANDIDATES
Consistent efforts by the team to filter new ideas
through your own set of criteria will yield a cache
of the most worthwhile ideas. The suggestions
that are unmanageable, ineffective, or unafford-
able will become obvious, while the ones that
have the most promise will be revealed. Once
the team gets the hang of the process, you can
continuously enhance your program by adding
more sophisticated grading systems or auto-
mated idea software.
Rhode Island-based Rite-Solutions has developed hundreds
of lucrative ideas through a unique innovation program that
allows employees to invest in good suggestions. In addition
to the encouragement to post ideas on an internal website,
each employee is given $10,000 virtual currency for the
opportunity to “invest” in others’ ideas and volunteer on
the project team. The projects that garner enough support
are approved and the team shares in its actual profits.
Now that you’ve identified your best ideas,
contact your Relationship Manager at (855)
274-2800 to explore how Sterling National
Bank can help turn them into actionable results!
Read our online exclusive article
at connect.snb.com/good-ideas
to learn how to structure your innovation
program and avoid six critical mistakes.
RANKED ONE OF FORBES' BEST BANKS OF 2019 // CONNECT INNOVATION FALL 2019 // SNB.COM
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