Why you will want to consider having “Intrapreneurship” in your company

Why you will want to consider having “Intrapreneurship” in your company

Have you been thinking of ways to help the company thrive in the digital era? Many jobs will be lost and many companies will fall out. This is not going to happen in the next 5 years. In fact, it is already happening in the past years. Look at how Kodak is gone (we covered that here), and how Western Digital and many other companies cutting down on job and freezing the headcount. Well, to be fair, they are cutting down jobs but at the same time they are hiring. They need talents that can help the company survive the digital transformation.

What does this mean?

If you were an employee, it means you have to start analysing the skills you have and your contribution to the company. Is your contribution significant? Most importantly, can your contribution be replaced by machine or technology easily? If the answer is yes, it’s your responsibility to equip yourselves with some skills that will be able to help in your job. Look out for the skills that are required in the coming years.

We have seen a lot of people just sit back and complain about company cutting jobs. Why not wake up and do something about it? If you are loss, talk to people from your industry, get advice from HR and also take up some courses to up-skill yourselves.

If you are from human resource looking into digital transformation, you might have started analysing the talent gap that your organisation has. What talent does your company has now and how much more do you need to fill in the coming 5 to 10 years? Be mindful that these talents might be of scarce and of high demand in the market. Hence, HR need to act fast and sharp to be able to recruit and attract these talents to be on-board before your competitors does.

We do understand that recruiting new talent hasn’t always be an easy job and what’s more challenging is getting them on-board with the job. There’s usually plenty of time and money resources spent trying to get the new hire to be able to perform in the new job. Alternatively, why don’t you look back at the resources that you already have and see what we can do about them?

Intrapreneur could be one of the solutions to HR practitioners when it comes to surviving digital transformation. Imagine what would happen if the employees are empowered to make their own decisions and also given the opportunity to make and create their own products or services? Lay down the green field in your office and let your employee plant seeds and grow them. From time to time, shower them with positive encouragement and sufficient resources and the seeds will grow to be useful someday. The power of Creativity and innovation will flourish in the office and that’s what leads to the creation of new products or services.

Why do people leave a company?

One of the highly voted answer is “people don’t leave the company, they leave the bad bosses”. Bosses or companies who doesn’t grow their talents will eventually lose the talents. Think about this, when you were given a project that comes with a great responsibility, what is in your mind? Do you think “I’m going to do my best. Let’s do it!” or “I’m going to screw this for fun. Let’s do it.” People tends to put in more effort and came out with better ideas when they are feeling empowered and want to be responsible for the end result.

If you are an employee, please seize every opportunity that your company is giving you. Participate with an open mind and best effort in every learning and development initiatives. When you close your mind, you are also closing the windows to opportunity.

If you are from the management or human resource, maybe consider how “Intrapreneurship” can be implemented for some good results? Improved productivity, innovation, creativity, and reduced turnover rate might be something you are looking at.

Dear companies, you cannot stop someone from being an entrepreneur if they really wanted to. Instead, look at what you really need in the company to thrive digital transformation – out-of-the box ideas, new products, new services? How do you get what you want?

The last post we explore on the concept of “Intrapreneurship” and the difference between “Intrapreneur vs Entrepreneur”. If you wish to read, click here.

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