Business Buzz- Success through Failure
In today’s highly competitive business world so much pressure goes into churning out a successful idea for your company. Jobs are becoming harder to find and a stable position at a successful company is an extremely hot commodity, making risk-taking and creativity in employees also harder to reveal. Luckily, many company executives across the United States are seeing this correlation and are looking to reward failures to spur innovation.
But wait – doesn’t rewarding people for failing seem a little backwards? Not according to recent research, which shows innovations and high rates of failure are closely linked. “The most successful people tend to be those with the most failures,” said Dr. Keith Simonton, psychology professor at UC Davis in a Wall Street Journal article on the topic. The article also highlighted some very successful companies and what they do to reward failures in their employees. One New York advertising firm rewards an employee with a two foot “Heroic Failure” trophy every quarter. The award was introduced to the company after the senior vice president thought that the fast growth of the agency was making employees too conservative with their ideas.
Failure is definitely a big way to spark creativity and innovation, but other factors also play a role in shaping creativity in people. Did you know that being the youngest in a family makes you more creative? If you are someone who is resistant to change, that can also hinder your creativity. Things that lead to awesome ideas: taking time off and being in a work environment that allows you to take risks. Awesome, right?
Don’t be afraid to make mistakes and most importantly, don’t be afraid to talk about them. Being able to talk openly with your coworkers and supervisors about your failures is the only way to grow, both innovatively and creatively.
Have you ever made a mistake or took a huge risk on the job that actually turned out to be a huge success? Do you think people should be “rewarded” for their failures?