Innovation to drive market share, revenue and EBITDA growth_LI

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PowerPoint-Prsentation

Innovation culture to beat the competition, drive market share, revenueand EBITDA growth

Nigel SterndaleCIO Totaljobs Group

www.stepstone.com#

1

Innovation why is it important?

Its the onlyinsuranceagainstirrelevance

Innovation distinguishes between a leaderand a follower

Its the only guarantee oflong-term customer loyalty

Its the only strategy for out-performing economic growth

2

Innovation wont just happen, it needs leadership commitment, a systematic approach and the belief that over time it will lead to out-performing the competitionHYPOTHESIS

We realised that discovering an innovation process isnt about doing just one thing, but a set of layers which go through the whole companyTargeting different areas of innovation and fostering a culture of innovation is for everyone

3

Five innovation initiatives

R&D Team

Innovation Fridays

Innovation LAB

Innovation Award

IDEAS

Innovation around the group

There are already great innovation initiatives happening at a local business level

1. R&DTo discover and exploit product opportunities that will delight our customers from the huge volumes of data we collect about our jobs and candidates

2. Innovation LABCross functional teams, + 48 hours, to solve specific business challenges (solutions reviewed by senior mgmt./ leadership teams)

3. Innovation FridaysCommitment to give regular time to tech and product teams to focus on innovation

4. SalesForce IDEASSingle database for sales and customer support or post ideas, customer and user feedback. Reviewed weekly by Product group

5. Innovation Award To underline our commitment to innovation and its importance in the group

4

To discover & exploit product opportunities that will delight our customers from the data we collect about our jobs and candidates

R&D Team

Team of 3Data scientistResearch & software developerSnr developer (seconded)We encouraged a completely different view of our data, using the latest tech and data science to gain insight into our users and their preferences5

Behavioural data is whos applied for what

Much of our current roadmap driven by jobs recommender product created by R&D. Moving away from pure search into behavioural driven recommendation and notificationIts a paradigm shift to the bleeding edgeUses Mahout

6

Recommended jobs is live

7

Specific business challenges, cross functional teams, 48 hours, with outputs pitched to the Leadership team

Innovation LAB

8

Lab run for Visibility products

Cross-functional volunteers

Output into delivery roadmap

First items in development

Next Innovation Lab in July

9

Commitment to give regular time to tech and product teams to focus on innovation with showcases & feedback reviews

Innovation Fridays

3rd Friday every monthTeams encouraged to participate, but not mandatoryYou can work with whom you like, on what you like, how you likeIdeas board, flags, breakfast, end of day showcase (and beer)Quarterly reviews with Leadership team

10

Heres two example prototype ideas:On the left a mobile optimised version of our CV database product for recruiters review candidates on the goOn the right the launch screen of a Tinder-style job seeker service11

An easy way for any employee to submit an idea, customer or user feedback and have it reviewed

IDEAS

12

Launched March

Open to sales and customer support

To capture and respond to your and your clients feedback

Vote for your favourite suggestions

Reviewed weekly by product team

Champagne for the best idea each month

13

World class award to underline our commitment to innovation and its importance in helping achieve Totaljobs Group goals

Innovation Award

14

What will be awarded?

+ Focused innovation time to develop your idea

+ The coolest innovation conference

+ 50,000 cash bonus

15

How it works

Game changing ideas that accelerate growthBusiness case presented to the Leadership teamTech, Marketing & Finance deep dive on costs and ROI assumptionsDemonstrate 3x return on investment within 12 months of launch

16

6 Ideas to business case3 Ideas shortlisted2 winners

17

Six months in what have we learned?

Positive motivational impact, its driven engagement, high approval for the opportunityNot everything works, and not always at the first attempt you need to be willing to inspect and adaptEven when it does work you have to put effort in to keep things freshBut if you do put consistent effect in you do get innovative ideas outYou need a credible outlet to develop great ideas into production or interest falters Its a long term view to realise revenue and EBITDA growth (but its achievable and measurable)

18

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