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Last week, Ultimate Software, a provider of HR solutions, was named by Fortune as the #25 of the 100 best companies to work for in 2012. We’d like to take a minute to congratulate one of our longtime customers for a job well done.
I recently came across a Wall Street Journal article about the growing number of companies that are turning to their employees for new and innovative ideas. The article cites research that states that the average employee's ideas are implemented just once every six years. In a world where companies prize product feedback, I find this statistic surprising. Couldn't some of the most transformational business ideas come from the people within the organization itself?
Tips for Managing Ideas like Other Company Assets
You wouldn't let an employee leave the company with their laptop or PDA, so why allow them to go without having collected critical IP – ideas they conceived while employed thinking about how to make your company's products better.
Here are five tips for better management of your idea assets:
If you're losing staff during this economic downturn, you're not just losing productivity; you're losing intellectual property that could be used to help your company excel during the recovery.
Employee Attrition = Lost IP