The Creative Economy: Innovation Fueled by Creativity and WorkLife Balance

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"We live in a time of great challenge but also of great promise and opportunity. Today, for perhaps the first time in human history, we have the opportunity to align economic and human development." Richard Florida, author The Flight of the Creative Class

Embracing creativity might be the saving grace of the American workforce and business in what is already a firestorm of competitiveness as globalization continues to take hold. A new survey finds that while a majority of American workers believe they are instinctively creative, fewer than two in three think they are tapping their creativity on the job.

The survey reminds us that American companies need to evolve in the way they treat their employees. But it’s also a call for them to assess the future working environment – from the layout of the cubicle -to how worklife balance comes into play. How do we formulate a workplace climate that supports creativity on the job instead of impeding it? It also stands to reason that flexible working conditions, might be the elixir to boosting creativity.

The survey, commissioned by the Fairfax County (Virginia) Economic Development Authority (FCEDA), and conducted by Ipsos Public Affairs, found the following:

88 % of U.S. workers consider themselves creative
As for creativity in the workplace, just 63 % said their positions were creative
61% thought the companies they work for – are creative

Workplace experts and futurists say this "creativity gap" might be an important indicator in determining how well American companies are prepared for a future likely ruled by innovation and creativity. The FCEDA, as mentioned above is hosting the 2007 National Conference on the Creative Economy in October to explore such ideas. And it’ll address everything from big business to entrepreneurs to those baby boomers who are switching to more meaningful careers.

Author Richard Florida, as quoted above, is one of the presenters. He’s one of the world’s leading social theorists and, "believes that human creativity is the engine of economic growth." Florida argues that for the first time in human history, our economic growth depends on the further development of a wide spectrum of human capabilities.

He makes this argument in a paper called The Creative Compact: An Economic and Social agenda for the Creative Age. This is a must read for anyone who is not only concerned about the future of the U.S. business agenda, growth and workplace design; but also for those of us who are looking toward business as an agent of social change.

The survey says creativity and innovation is the next frontier in the competitive nature of business in a 24/7 world. But that means that worklife balance, integration, and synergy must be a factor. How can it not ?

To get the creative juices flowing we must have a more engaged, loyal and creative workforce. How will big business make that happen?

http://www.beyster.com Dr. J. Robert Beyster

I read with interest the article written by Amy Hoak on the Importance of Creativity and feel that those of us who have stimulated our employees with freedom to run their own venture—along with equity incentives based on performance—have been able to elicit much more in the way of creativity from them. What I’m talking about is that more companies should—in addition to having good benefits programs—incentivize their performers with equity awards such as stock options or stock bonus programs. At a number of companies—including Science Applications International Corporation (SAIC)—this was a strategy that led to tremendous growth and employee satisfaction.

I recently, with Peter Economy, wrote a book describing how our system at SAIC worked. It’s called The SAIC Solution, and it is available at bookstores and online. Here’s an excerpt (page 4): “Our goal was to grow a company that would be stable – where the staff stayed with the company, even in hard times. In this company, creative research would be considered important, regardless of the size of the contract. Rewards would be fair. Everyone would share in the ownership of the company based on their contributions to our success.”

I would recommend that those companies interested in this type of equity solution take a look at the book. I will be happy to respond to any questions you have on my blog at http://www.beyster.com.

Dr. J. Robert Beyster