There’s a debate brewing in Washington over whether or not the country needs another shot of economic stimulus beyond the $787 billion stimulus package that was enacted in February of this year.
Although I will resist the temptation to share my opinion on this particular topic, I will offer up an educated opinion on a different type of stimulus package. Many companies would benefit greatly if they enacted their own “creativity stimulus package” during these trying economic times.
Companies that have enjoyed some level of past success often become complacent, and tend to bask longer than they should in yesterday’s sun. Meanwhile, younger and hungrier competitors gain ground on the market leaders with some good old-fashioned tenacity, creativity, and fearless ingenuity.
This phenomenon is only exacerbated during a bad economy, when many mature companies may feel the need to “lay up” and play it safe rather than “go for the pin.” But this reaction may be exactly the beginning of the end for some businesses.
Corporate executives and managers should borrow a page from the economic stimulus playbook, and use this opportunity to stimulate its workforce with a shot of adrenaline in the creativity department.
Challenge employees to take legitimate risks. Incite innovation with some creative leadership development or an inspiring corporate training event. Introduce your employees to top innovators and inventors from a variety of fields. And by all means, spotlight and reward creativity and innovation at all levels of the organization.
In doing so, you might just stimulate your company back into the game and onto the leaderboard.