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HR managers 'should reward risk'

1 August 2013

HR managers should foster innovation in their company by encouraging employees to take risks, according to KPMG.

The organisation has published a report that highlights the need for UK businesses to adopt new ways of operating if they are to succeed in the global race.

It claimed HR can play a key role in this process, as it is well placed to encourage companies to make the cultural changes needed to be more innovative. 

One way of doing this is setting up reward schemes that recognise individuals who contribute new ideas, even if they then go on to fail.

Robert Bolton, the co-leader of KPMG's global HR Centre of Excellence, stated: "[Reward] can be used to reinforce the importance of innovation activity and outcomes." 

He added the role that HR plays in organisational design offers potential for encouraging creativity and new approaches, as it can be used to make the exchange of ideas across different boundaries and functions much smoother.

Mr Bolton claimed that by fostering innovation, HR can be held in the same light as other business-crucial functions like finance and IT.

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Categories: Commercial, Human Resources

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