Entrepreneurs are the backbone of the American economy. They drive economic growth and lower the unemployment rate. But not every individual with an entrepreneurial mindset starts their own company. Plenty of them fuel forward progress as employees at all levels of organizations, from lower-level workers to managers to C-suite executives. Employees who embody the entrepreneurial spirit are intrapreneurs. Intrapreneurs are proactive, intrinsically motivated individuals who take the initiative to explore innovative solutions and proposals that improve the company.
Discuss the problems that need to be solved.
Necessity is the mother of invention. If your employees aren’t familiar with the obstacles the company is facing, then it’s not practical to expect them to come up with creative solutions. One of the most effective ways to encourage intrapreneurship at your company is to keep employees informed. This includes lower-level employees. It’s quite likely that ambitious, lower-level employees are eager to prove themselves to their managers. In fact, those with an intrapreneurial mindset will focus their energy on solving problems and moving the company forward. As a result, they may get themselves noticed by the management. One way to keep employees informed is to circulate a brief, weekly newsletter about the various goings-on at the company. The newsletter may include information about:
- Upcoming business events.
- Important deadlines.
- Upcoming or ongoing projects.
- Key notes from meetings.
Banish micromanagement at your company.
It’s often difficult for executives and supervisors to resist the temptation to micromanage. However, avoiding micromanagement is essential for letting intrapreneurship thrive. It’s an asset to the company when a manager steps back and gives employees the freedom to tackle jobs in new and innovative ways. To avoid micromanaging, use the following tips:
- Encourage supervisors to focus on the big picture, rather than the little details.
- Encourage employees to find more efficient ways of accomplishing tasks.
- Require supervisors to delegate tasks.
- Set up a system of progress tracking that doesn’t require employees to touch base at unreasonably frequent intervals.
- Encourage employees to make their own decisions (within reason).
- Put employees in charge of their own projects.
It can also be helpful for a manager to schedule small team meetings in which the manager is not physically present. This enables employees to take charge of their projects. It also conveys that the manager trusts the employees’ ability to get the job done.
Establish an open door policy.
In order to enable intrapreneurs to thrive at your company, it’s essential to have an open door policy regarding communication among employees and management. After all, every worker needs to feel that his or her ideas and feedback are valuable and welcome. Use the following tips to encourage open communication in the workplace:
- Actively solicit input from all employees.
- Hold small team meetings and encourage everyone to participate.
- Distribute meeting agendas ahead of time to enable employees to develop meaningful input.
- Listen carefully to all suggestions and ideas. Afterwards, be sure to ask questions.
- Reward employees by putting them in charge of projects or improvements they suggest.
A company culture that nurtures intrapreneurship is just one of the ingredients for long-term success. Another crucial component is a sound digital marketing strategy. Contact Pennington Creative today to become tomorrow’s next success story!