What do Zappos, Netflix and Amazon all have in common? If you guessed cool, new companies you wouldn’t be wrong, but their is something even more fundamentally amazing about them. They have all changed the way the game is played within their respective industries.
Look at Netflix for example. Netflix shares are up 130% (Over $100 now!) over the past year while Blockbuster is down to over 50% (now trading at $0.40). Netflix did not look to just get into the DVD rental business, CEO Reed Hastings set out to change the way the game is played! His company is now worth over $5 Billion while Blockbuster is worth under $100 Million. Netflix continues to focus on innovation by now working on streaming video through multiple platforms.
When you look at most HR organizations, processes and systems today they look a lot like they did 50 years ago. Recruiting looks the same, performance management looks the same and little has changed in the way that training, compensation or benefits. HR, unfortunately still looks a lot like Toby on The Office, outdated and out of touch.
If HR really want to become influencers we need to innovate. We need to come up with a better way to recruit, develop and retain people. We need to find better ways to develop talent. We need to work in real time as the last few years of economic uncertainty have shown that long-term planning has little value.
I love to hear and read about innovation in the workplace, but the last few conferences I have gone to have been disappointing. The presentations I am seeing today the same things I was seeing from HR pros 7-8 years ago. It’s time to innovate.
If you are innovating or have seen some innovative HR initiatives that work drop me a line, please!