Have you heard about strategy crowdsourcing?
This is a revolutionary approach to strategy planning and development as it is based on the mass involvement of even thousands of employees. Anyone can contribute to strategy development without regards of the employee’s position, function or the number of years spent at the organization.
HCL Technologies is one of the few pioneering companies that have implemented strategy crowdsourcing techniques having more than 8000 employees contributing to the development of the company’s strategy.
According to Vineet Nayar, CEO of HCL Technologies, advantages of strategy crowdsourcing includes the opportunity of building on more extensive knowledge of frontline employees, implementing more diversified perspectives and therefore better aligning the strategy in order to capitalize on potential opportunities that may be most likely overlooked with the traditional, centralized strategy planning method.
One of HCL Technologies managers explained that the new strategy based on the involvement of employees made it possible to develop a new, more innovative service that has resulted in a 5-fold increase in revenues with one of their most important clients.
For more real-life case studies of different strategy crowdsourcing techniques that pioneering companies are applying check this link!
Furthermore Vineet Nayar’s ‘Employees First, Customers Second – Turning conventional management upside down’ book is also worth-reading!