A joint report from the Bay Area Council Economic Institute and Booz & Company, “What Makes San Francisco Bay Area Companies Different?,” revealed that San Francisco Bay Area businesses are almost 3 times as likely to say their innovation strategies are tightly aligned with their overall corporate business strategies. When asked if their corporate cultures supported their strategies, “46 percent of Bay Area companies strongly agreed compared with just 19 percent of all companies - more than double the general population.”
To compete in the highly innovative Bay Area, it’s important for businesses to have great products and forward-thinking business strategies; however, the most important components of innovation are shown to be culture and operational innovations. To foster a culture of innovation and growth in your business, leaders must create scalable business models that will capitalize on the unique strengths of key players in innovation strategy, while allowing the company to quickly expand teams to support rapid time to market.
1 in 4 CEOs said they were either unable to pursue a market opportunity or had to cancel or delay a strategic initiative because of talent constraints.
Creating hiring plans that support your key players in innovation strategy, including senior developers, hiring managers, and project champions, is essential to competing in a highly innovative market where business models and strategies are consistently changing. Businesses who utilize these scalable models in the workforce, such as On Demand talent consultants, outsourcing, and VMS, are more than just keeping up with the competition, but consistently staying ahead of the competition due to streamlined operations and stronger corporate culture. When your key players understand that your business will support their innovation, ideas, and projects with highly-qualified resources, your company can improve idea flow and creativity within the organization.