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By Dr. Evans Baiya, HR.com, July 2019

In today’s fast-paced world, innovation must be the future of any company looking to compete and win market share. You simply cannot grow and thrive by doing what you’ve always done. Therefore, it is a natural conclusion that innovation will be a key component to the future of performance management.

Over the past several years, my co-author Ron Price and I have seen an increasing number of companies embrace innovation as part of their strategic plan, even going so far as to create new company roles such as chief innovation officer, innovation analyst, innovation engineer, and more. In fact, a 2018 CB Insights State of Innovation study reported that 85% of executives see innovation as an important initiative.

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